FirstEnergy Corporation $FE Shares Sold by Andra AP fonden

Key Points

• Andra AP fonden cut its FirstEnergy stake by 28.9% in the second quarter, selling 67,100 shares and retaining 164,913 shares valued at approximately $7.84 million.
• Despite the reduction, institutional ownership remains high at 89.41%, with several major investors—including Allspring, Bank of America, and Franklin Resources—increasing their positions.
• FirstEnergy reported quarterly EPS of $0.50, matching estimates, while revenue of $3.68 billion exceeded expectations. Analysts maintain a “Moderate Buy” consensus with an average price target of $52.58, and the company offers a 4.2% dividend yield.

Andra AP fonden reduced its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 28.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,913 shares of the utilities provider's stock after selling 67,100 shares during the period. Andra AP fonden's holdings in FirstEnergy were worth $7,840,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FE. Geode Capital Management LLC lifted its position in FirstEnergy by 1.0% during the fourth quarter. Geode Capital Management LLC now owns 13,463,298 shares of the utilities provider's stock worth $600,351,000 after buying an additional 126,834 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in shares of FirstEnergy by 7.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 9,971,706 shares of the utilities provider's stock worth $508,158,000 after acquiring an additional 694,449 shares during the period. Bank of America Corp DE boosted its stake in shares of FirstEnergy by 11.9% in the 1st quarter. Bank of America Corp DE now owns 5,396,317 shares of the utilities provider's stock valued at $273,377,000 after buying an additional 573,731 shares during the period. Legal & General Group Plc lifted its position in shares of FirstEnergy by 1.5% during the 4th quarter. Legal & General Group Plc now owns 4,586,712 shares of the utilities provider's stock worth $205,347,000 after purchasing an additional 66,529 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in FirstEnergy by 2.3% during the 4th quarter. Franklin Resources Inc. now owns 3,496,817 shares of the utilities provider's stock worth $156,552,000 after buying an additional 79,554 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Price Performance

Shares of NYSE FE opened at $44.75 on Wednesday. FirstEnergy Corporation has a 1-year low of $43.19 and a 1-year high of $52.34. The business has a 50-day moving average of $47.19 and a 200-day moving average of $47.83. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. The company has a market capitalization of $25.89 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 2.60 and a beta of 0.45.

FirstEnergy (NYSE:FE - Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, hitting analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.51 billion. During the same period in the previous year, the company posted $0.52 earnings per share. On average, equities analysts anticipate that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Investors of record on Friday, August 7th were paid a dividend of $0.465 per share. The ex-dividend date was Friday, August 7th. This represents a $1.86 annualized dividend and a yield of 4.2%. FirstEnergy's dividend payout ratio (DPR) is 98.94%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on FE shares. Morgan Stanley cut their target price on shares of FirstEnergy from $52.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, September 18th. Barclays cut their price objective on FirstEnergy from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Wall Street Zen raised FirstEnergy from a "sell" rating to a "hold" rating in a research note on Saturday. Weiss Ratings reissued a "buy (b-)" rating on shares of FirstEnergy in a research note on Monday, September 14th. Finally, UBS Group upped their price objective on FirstEnergy from $50.00 to $51.00 and gave the company a "neutral" rating in a research 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 company. Based on data from MarketBeat.com, FirstEnergy presently has a consensus rating of "Moderate Buy" and a consensus target price of $52.58.

FirstEnergy Profile

FirstEnergy Corp. NYSE: FE is an electric utility holding company focused on the transmission and distribution of electricity. Through its regulated operating companies, the company delivers power to residential, commercial and industrial customers and maintains the local infrastructure needed to support reliable electric service.

FirstEnergy's utility operations include Ohio Edison, The Illuminating Company, Toledo Edison, Met-Ed, Penelec, Penn Power, West Penn Power, Jersey Central Power & Light and Mon Power, among others.

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