First Trust Advisors LP Cuts Holdings in FirstEnergy Corporation $FE

Key Points

• First Trust Advisors LP cut its FirstEnergy stake by 14.7% in the first quarter, selling 448,277 shares and leaving it with 2,595,886 shares worth about $131.5 million.
• FirstEnergy reported solid quarterly results, matching earnings expectations at $0.72 per share while revenue came in above estimates at $4.20 billion, up 11.6% year over year.
• The utility maintains a 3.8% dividend yield with a quarterly payout of $0.465 per share, though its dividend payout ratio is high at 101.09% and analysts currently rate the stock a “Moderate Buy.”

First Trust Advisors LP reduced its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 14.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,595,886 shares of the utilities provider's stock after selling 448,277 shares during the quarter. First Trust Advisors LP owned about 0.45% of FirstEnergy worth $131,508,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. State of Wyoming acquired a new position in FirstEnergy during the second quarter worth $25,000. Olistico Wealth LLC acquired a new stake in FirstEnergy in the fourth quarter valued at $31,000. DV Equities LLC acquired a new stake in FirstEnergy in the fourth quarter valued at $33,000. Quest 10 Wealth Builders Inc. boosted its position in shares of FirstEnergy by 507.9% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider's stock worth $34,000 after purchasing an additional 640 shares in the last quarter. Finally, Summit Securities Group LLC boosted its position in shares of FirstEnergy by 148.0% during the 4th quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider's stock worth $35,000 after purchasing an additional 2,376 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 0.3%

FE opened at $49.48 on Friday. The business's fifty day moving average is $47.09 and its two-hundred day moving average is $48.09. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.42 and a current ratio of 0.52. The company has a market cap of $28.62 billion, a price-to-earnings ratio of 26.89, a PEG ratio of 2.36 and a beta of 0.47. FirstEnergy Corporation has a one year low of $41.17 and a one year high of $52.34.

FirstEnergy (NYSE:FE - Get Free Report) last posted its earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share for the quarter, meeting the consensus estimate of $0.72. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.The company had revenue of $4.20 billion for the quarter, compared to analyst estimates of $3.80 billion. During the same quarter in the prior year, the company earned $0.67 earnings per share. FirstEnergy's revenue was up 11.6% compared to the same quarter last year. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. Analysts anticipate that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy's dividend payout ratio is presently 101.09%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FE. Wells Fargo & Company reaffirmed an "overweight" rating and set a $55.00 price target on shares of FirstEnergy in a research note on Tuesday, April 21st. TD Cowen upgraded shares of FirstEnergy from a "hold" rating to a "buy" rating and reduced their price objective for the company from $56.00 to $53.00 in a research note on Friday, May 15th. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a report on Wednesday. Barclays upped their target price on shares of FirstEnergy from $53.00 to $55.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, UBS Group increased their target price on shares of FirstEnergy from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Seven research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $52.92.

FirstEnergy Profile

FirstEnergy Corp. NYSE: FE is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company's primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy's service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy's core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.

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