First Hawaiian Bank Reduces Position in FirstEnergy Corporation $FE

Key Points

• First Hawaiian Bank reduced its stake in FirstEnergy Corporation by 37.6% in the first quarter, selling 7,818 shares, leading to holdings worth $524,000 at the end of the reporting period.
• Analysts have mixed outlooks on FirstEnergy's stock, with seven maintaining a Buy rating and an average target price of $46.31, while notable revisions included KeyCorp's price objective reduction from $47.00 to $46.00.
• The company recently announced a quarterly dividend of $0.445, providing a 4.1% dividend yield, with a payout ratio of 78.76%.

First Hawaiian Bank lessened its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 37.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,966 shares of the utilities provider's stock after selling 7,818 shares during the period. First Hawaiian Bank's holdings in FirstEnergy were worth $524,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of FE. Soroban Capital Partners LP lifted its stake in FirstEnergy by 60.2% during the 4th quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock worth $331,795,000 after acquiring an additional 3,133,083 shares in the last quarter. Boston Partners lifted its stake in FirstEnergy by 14.9% during the 1st quarter. Boston Partners now owns 18,962,859 shares of the utilities provider's stock worth $767,952,000 after acquiring an additional 2,459,779 shares in the last quarter. Federated Hermes Inc. lifted its stake in FirstEnergy by 133,614.8% during the 1st quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider's stock worth $93,394,000 after acquiring an additional 2,308,864 shares in the last quarter. Wealthquest Corp acquired a new position in FirstEnergy during the 1st quarter worth about $53,169,000. Finally, Zimmer Partners LP lifted its stake in FirstEnergy by 33.4% during the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock worth $195,672,000 after acquiring an additional 1,232,040 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

Analyst Ratings Changes

FE has been the topic of several research reports. Mizuho increased their target price on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a research note on Thursday, August 21st. KeyCorp reissued an "overweight" rating and set a $46.00 target price (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Finally, Barclays upgraded FirstEnergy from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $46.31.

FirstEnergy Stock Down 0.3%

Shares of FE traded down $0.14 during mid-day trading on Friday, reaching $43.29. The company's stock had a trading volume of 6,051,649 shares, compared to its average volume of 3,070,450. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.58. The stock has a market cap of $24.99 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 2.67 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. The company's 50 day moving average is $42.86 and its 200 day moving average is $41.43.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the business posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Equities analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Stockholders of record on Thursday, August 7th were issued a $0.445 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.1%. FirstEnergy's dividend payout ratio is presently 78.76%.

FirstEnergy Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.