FirstEnergy Corporation $FE Shares Bought by Janus Henderson Group PLC

Key Points

• Janus Henderson Group increased its FirstEnergy stake by 61.9% in the first quarter, bringing its holdings to 55,978 shares valued at approximately $2.84 million. Institutional investors collectively own 89.41% of FirstEnergy.
• Analyst sentiment remains favorable, with seven Buy ratings and six Holds producing a “Moderate Buy” consensus and an average price target of $52.83. Recent actions included TD Cowen upgrading the stock to Buy and UBS raising its target to $51.
• FirstEnergy reported quarterly EPS of $0.50, matching estimates, while revenue of $3.68 billion exceeded expectations. The company declared a quarterly dividend of $0.465 per share, equivalent to a 3.9% annualized yield.

Janus Henderson Group PLC raised its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 61.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,978 shares of the utilities provider's stock after buying an additional 21,403 shares during the period. Janus Henderson Group PLC's holdings in FirstEnergy were worth $2,837,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of FirstEnergy by 11,305.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider's stock valued at $81,699,000 after purchasing an additional 1,957,673 shares during the period. Intech Investment Management LLC increased its stake in FirstEnergy by 42.8% during the 4th quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider's stock worth $3,817,000 after buying an additional 25,571 shares during the period. Vanguard Group Inc. lifted its holdings in FirstEnergy by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider's stock worth $3,049,255,000 after buying an additional 761,157 shares in the last quarter. BW Gestao de Investimentos Ltda. acquired a new stake in FirstEnergy during the 4th quarter worth approximately $15,172,000. Finally, Brighton Jones LLC purchased a new position in FirstEnergy in the 4th quarter valued at approximately $256,000. Hedge funds and other institutional investors own 89.41% of the company's stock.

Analyst Ratings Changes

Several research firms have commented on FE. TD Cowen upgraded shares of FirstEnergy from a "hold" rating to a "buy" rating and dropped their price target for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Wolfe Research cut FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Wells Fargo & Company reiterated an "overweight" rating and issued a $55.00 target price on shares of FirstEnergy in a report on Tuesday, April 21st. Weiss Ratings cut FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, June 17th. Finally, UBS Group upped their price target on FirstEnergy from $50.00 to $51.00 and gave the stock a "neutral" rating in a report on Thursday, June 11th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $52.83.

FirstEnergy Stock Up 0.3%

FE stock opened at $47.50 on Friday. The stock has a market cap of $27.48 billion, a P/E ratio of 25.27, a PEG ratio of 2.27 and a beta of 0.46. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. FirstEnergy Corporation has a twelve month low of $42.72 and a twelve month high of $52.34. The company's 50 day moving average is $47.72 and its two-hundred day moving average is $48.32.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The business had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.51 billion. During the same quarter in the prior year, the business posted $0.52 EPS. Research analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Friday, August 7th. FirstEnergy's dividend payout ratio (DPR) is currently 98.94%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source