First Hawaiian Bank Cuts Stake 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 cut its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 37.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of FE. N.E.W. Advisory Services LLC bought a new position in FirstEnergy in the first quarter valued at about $27,000. TruNorth Capital Management LLC lifted its holdings in FirstEnergy by 226.9% in the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 490 shares during the period. Bernard Wealth Management Corp. bought a new position in FirstEnergy in the fourth quarter valued at about $33,000. MJT & Associates Financial Advisory Group Inc. bought a new position in FirstEnergy in the first quarter valued at about $40,000. Finally, Tsfg LLC raised its stake in shares of FirstEnergy by 143.6% in the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock worth $43,000 after buying an additional 632 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. KeyCorp reaffirmed an "overweight" rating and issued a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Barclays raised FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a research note on Thursday, August 21st. Finally, Mizuho lifted their target price on FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, FirstEnergy currently has an average rating of "Hold" and an average target price of $46.31.

FirstEnergy Stock Performance

NYSE FE opened at $43.80 on Monday. The company has a market cap of $25.29 billion, a P/E ratio of 19.38, a P/E/G ratio of 2.69 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The business's 50 day moving average price is $42.54 and its 200-day moving average price is $41.32. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.78.

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

FirstEnergy Dividend Announcement

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

About FirstEnergy

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.

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