Ameriprise Financial Inc. Has $125.20 Million Position in FirstEnergy Corporation $FE

Key Points

• Ameriprise Financial Inc. reduced its holdings in FirstEnergy Corporation by 56.2% during Q1, owning 3,097,421 shares after selling 3,976,762 shares.
• Several institutional investors, including Dakota Wealth Management and Kovitz Investment Group, have recently increased their stakes in FirstEnergy, indicating confidence in the company.
• FirstEnergy announced a quarterly dividend of $0.445 per share, with a yield of 4.1%, and its earnings report showed better-than-expected results with an EPS of $0.52.

Ameriprise Financial Inc. decreased its position in FirstEnergy Corporation (NYSE:FE - Free Report) by 56.2% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,097,421 shares of the utilities provider's stock after selling 3,976,762 shares during the quarter. Ameriprise Financial Inc. owned about 0.54% of FirstEnergy worth $125,198,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in FE. Brighton Jones LLC bought a new stake in FirstEnergy during the fourth quarter worth approximately $256,000. Dimensional Fund Advisors LP boosted its position in FirstEnergy by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,018,704 shares of the utilities provider's stock worth $80,302,000 after purchasing an additional 64,491 shares during the period. Stifel Financial Corp boosted its position in FirstEnergy by 3.3% during the fourth quarter. Stifel Financial Corp now owns 187,844 shares of the utilities provider's stock worth $7,473,000 after purchasing an additional 6,019 shares during the period. Kovitz Investment Group Partners LLC bought a new stake in FirstEnergy during the fourth quarter worth approximately $420,000. Finally, Boothbay Fund Management LLC bought a new stake in FirstEnergy during the fourth quarter worth approximately $204,000. Institutional investors own 89.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Morgan Stanley reiterated an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Mizuho upped their price target on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. 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. 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, KeyCorp reiterated an "overweight" rating and set a $46.00 price target (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $46.31.

FirstEnergy Trading Down 0.5%

FirstEnergy stock traded down $0.22 during mid-day trading on Thursday, hitting $43.55. The stock had a trading volume of 3,073,834 shares, compared to its average volume of 4,865,597. The stock has a 50-day simple moving average of $41.71 and a two-hundred day simple moving average of $41.11. The stock has a market capitalization of $25.14 billion, a PE ratio of 19.27, a P/E/G ratio of 2.68 and a beta of 0.48. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $44.97. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter last year, the business earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, sell-side analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 7th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date is Thursday, August 7th. FirstEnergy's dividend payout ratio (DPR) is currently 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.