FirstEnergy Corporation $FE Stake Lessened by Korea Investment CORP

Key Points

• Korea Investment CORP has decreased its stake in FirstEnergy Corporation by 12.1%, selling 57,354 shares to hold a total of 414,735 shares valued at approximately $16.76 million.
• FirstEnergy's recent earnings report indicated an earnings per share of $0.52, surpassing the consensus estimate of $0.50, while total revenue for the quarter was $3.40 billion, below analyst expectations.
• The company announced a quarterly dividend of $0.445 per share, reflecting an annualized yield of 4.1%, with a payout ratio of 78.76%.

Korea Investment CORP lessened its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 12.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 414,735 shares of the utilities provider's stock after selling 57,354 shares during the period. Korea Investment CORP owned about 0.07% of FirstEnergy worth $16,764,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of FE. Dakota Wealth Management grew its stake in FirstEnergy by 3.4% during the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider's stock valued at $309,000 after acquiring an additional 249 shares in the last quarter. Kovitz Investment Group Partners LLC lifted its position in shares of FirstEnergy by 2.4% in the first quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider's stock worth $437,000 after purchasing an additional 255 shares in the last quarter. Equitable Trust Co. boosted its holdings in shares of FirstEnergy by 1.2% during the first quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider's stock worth $917,000 after purchasing an additional 266 shares during the period. Focus Partners Wealth grew its position in FirstEnergy by 1.4% during the fourth quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock valued at $835,000 after purchasing an additional 272 shares in the last quarter. Finally, Firethorn Wealth Partners LLC increased its stake in FirstEnergy by 5.5% in the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider's stock valued at $222,000 after buying an additional 287 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Trading Up 0.3%

Shares of NYSE:FE opened at $43.5640 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $25.15 billion, a PE ratio of 19.28, a P/E/G ratio of 2.67 and a beta of 0.48. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $44.97. The firm has a fifty day moving average price of $41.34 and a 200 day moving average price of $40.99.

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

FirstEnergy Announces Dividend

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

Analyst Upgrades and Downgrades

FE has been the subject of a number of research reports. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and lifted their target price for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. KeyCorp reiterated an "overweight" rating and set a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Evercore ISI lifted their price objective on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Finally, Morgan Stanley cut their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Wednesday, June 18th. Six analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, FirstEnergy currently has a consensus rating of "Hold" and a consensus price target of $46.08.

FirstEnergy Company 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.

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