FirstEnergy Corporation $FE Stock Position Raised by Glenmede Trust Co. NA

Key Points

• Glenmede Trust Co. NA nearly doubled its FirstEnergy stake by 93.2% in the first quarter, bringing its holdings to 59,490 shares worth approximately $3.0 million. Institutional investors and hedge funds collectively own 89.41% of FE.
• FirstEnergy reported quarterly EPS of $0.50, matching analyst expectations, while revenue of $3.68 billion exceeded the $3.51 billion consensus estimate. Analysts expect full-year EPS of $2.73.
• The company declared a quarterly dividend of $0.465 per share, equivalent to a 3.9% annualized yield. FE shares recently traded at $48.30, while analysts maintain a “Moderate Buy” consensus with an average price target of $52.83.

Glenmede Trust Co. NA increased its stake in FirstEnergy Corporation (NYSE:FE - Free Report) by 93.2% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,490 shares of the utilities provider's stock after acquiring an additional 28,702 shares during the quarter. Glenmede Trust Co. NA's holdings in FirstEnergy were worth $3,014,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FE. Vanguard Group Inc. increased its stake in FirstEnergy by 1.1% in the 4th quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider's stock worth $3,049,255,000 after purchasing an additional 761,157 shares in the last quarter. Boston Partners lifted its stake in FirstEnergy by 13.5% during the third quarter. Boston Partners now owns 18,344,403 shares of the utilities provider's stock valued at $841,161,000 after buying an additional 2,185,400 shares in the last quarter. Geode Capital Management LLC lifted its stake 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 valued at $600,351,000 after buying an additional 126,834 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of FirstEnergy by 0.3% in the fourth quarter. Invesco Ltd. now owns 11,722,471 shares of the utilities provider's stock worth $524,815,000 after buying an additional 34,014 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of FirstEnergy by 7.5% in 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 buying an additional 694,449 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Price Performance

Shares of FE opened at $48.30 on Wednesday. The business's 50-day moving average is $47.66 and its 200-day moving average is $48.32. 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 $27.95 billion, a price-to-earnings ratio of 25.69, a P/E/G ratio of 2.32 and a beta of 0.46. FirstEnergy Corporation has a fifty-two week low of $42.72 and a fifty-two week high of $52.34.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $3.68 billion during the quarter, compared to analysts' expectations of $3.51 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. During the same period last year, the company posted $0.52 earnings per share. Equities research analysts expect that FirstEnergy Corporation will post 2.73 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

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

Analyst Upgrades and Downgrades

FE has been the topic of a number of recent analyst reports. Weiss Ratings lowered shares of FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 17th. Wells Fargo & Company restated an "overweight" rating and issued a $55.00 price target on shares of FirstEnergy in a research report on Tuesday, April 21st. Barclays decreased their price objective on shares of FirstEnergy from $55.00 to $54.00 and set an "overweight" rating for the company in a research note on Friday. Wolfe Research cut shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a research report on Monday, May 4th. Finally, Jefferies Financial Group boosted their target price on shares of FirstEnergy from $50.00 to $52.00 and gave the company a "hold" rating in a research note on Tuesday, April 21st. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.83.

FirstEnergy Company 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.

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