FirstEnergy Corporation $FE Shares Sold by Versor Investments LP

Key Points

• Versor Investments LP reduced its stake in FirstEnergy Corporation by 79.8%, selling 28,100 shares and leaving it with 7,100 shares valued at $287,000.
• Several institutional investors increased their holdings in FirstEnergy, with Soroban Capital Partners LP and Federated Hermes Inc. making significant purchases, increasing stakes by 60.2% and 133,614.8% respectively.
• FirstEnergy recently announced a quarterly dividend of $0.445 per share, resulting in an annualized dividend yield of 4.1%, with a payout ratio of 78.76%.

Versor Investments LP lowered its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 79.8% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,100 shares of the utilities provider's stock after selling 28,100 shares during the quarter. Versor Investments LP's holdings in FirstEnergy were worth $287,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Dakota Wealth Management raised its position in FirstEnergy by 3.4% during the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider's stock worth $309,000 after buying an additional 249 shares during the last quarter. Kovitz Investment Group Partners LLC raised its position in FirstEnergy by 2.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider's stock worth $437,000 after buying an additional 255 shares during the last quarter. Equitable Trust Co. raised its position in FirstEnergy by 1.2% during the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider's stock worth $917,000 after buying an additional 266 shares during the last quarter. Focus Partners Wealth raised its position in FirstEnergy by 1.4% during the 4th quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock worth $835,000 after buying an additional 272 shares during the last quarter. Finally, Firethorn Wealth Partners LLC raised its position in FirstEnergy by 5.5% during the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider's stock worth $222,000 after buying an additional 287 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Price Performance

Shares of FE traded up $0.20 during trading hours on Wednesday, reaching $43.79. The company had a trading volume of 3,218,122 shares, compared to its average volume of 3,929,149. The firm has a 50 day simple moving average of $41.71 and a 200-day simple moving average of $41.11. 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 company has a market capitalization of $25.28 billion, a price-to-earnings ratio of 19.37, a PEG 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.

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 net margin of 9.31% and a return on equity of 11.31%. The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the firm posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. KeyCorp restated an "overweight" rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. UBS Group set a $44.00 price objective on shares of FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Mizuho upped their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Morgan Stanley reiterated an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Finally, Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and increased their price target for the company from $43.00 to $49.00 in a report on Monday. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat, FirstEnergy presently has an average rating of "Hold" and a consensus price target of $46.31.

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.