Gabelli Funds LLC Has $16.13 Million Stake in FirstEnergy Corporation $FE

Key Points

• Gabelli Funds LLC has reduced its stake in FirstEnergy Corporation by 3.6%, now owning 398,991 shares valued at approximately $16.13 million.
• Institutional investors collectively own 89.41% of FirstEnergy's stock, indicating significant interest from large investors, while recent analyst ratings show a mix of "Buy" and "Hold" evaluations.
• FirstEnergy announced a quarterly dividend of $0.445 per share, leading to an annualized payout of $1.78 and a dividend yield of 4.1%.

Gabelli Funds LLC decreased its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 3.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 398,991 shares of the utilities provider's stock after selling 15,000 shares during the period. Gabelli Funds LLC owned about 0.07% of FirstEnergy worth $16,127,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in FE. Brighton Jones LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at about $256,000. Dimensional Fund Advisors LP increased its holdings in FirstEnergy by 3.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,018,704 shares of the utilities provider's stock worth $80,302,000 after buying an additional 64,491 shares during the last quarter. Stifel Financial Corp increased its holdings in FirstEnergy by 3.3% in the fourth quarter. Stifel Financial Corp now owns 187,844 shares of the utilities provider's stock worth $7,473,000 after buying an additional 6,019 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in FirstEnergy in the fourth quarter worth approximately $420,000. Finally, Boothbay Fund Management LLC acquired a new position in FirstEnergy in the fourth quarter worth approximately $204,000. Institutional investors and hedge funds own 89.41% of the company's stock.

Wall Street Analyst Weigh In

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

FirstEnergy Stock Down 0.0%

Shares of FirstEnergy stock opened at $43.64 on Wednesday. The stock has a market capitalization of $25.20 billion, a P/E ratio of 19.31, a PEG ratio of 2.68 and a beta of 0.48. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average price of $41.62 and a two-hundred day moving average price of $41.09. 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 announced 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 during 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 in the prior year, the business earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Equities analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

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

About FirstEnergy

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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