IFM Investors Pty Ltd Has $6.22 Million Stake in FirstEnergy Corporation $FE

Key Points

• IFM Investors Pty Ltd has reduced its stake in FirstEnergy Corporation by 18.9%, selling 35,756 shares and now holding 153,892 shares worth approximately $6.22 million.
• Barclays upgraded FirstEnergy's rating from "equal weight" to "overweight" and increased their price target from $43.00 to $49.00, reflecting positive sentiment around the stock.
• FirstEnergy announced a recent quarterly dividend of $0.445 per share, providing an annualized yield of 4.1% with a payout ratio of 78.76%.

IFM Investors Pty Ltd lessened its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 18.9% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 153,892 shares of the utilities provider's stock after selling 35,756 shares during the quarter. IFM Investors Pty Ltd's holdings in FirstEnergy were worth $6,220,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in FirstEnergy by 14.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider's stock worth $2,883,000 after acquiring an additional 8,879 shares during the period. Johnson Investment Counsel Inc. increased its position in FirstEnergy by 3.8% during the first quarter. Johnson Investment Counsel Inc. now owns 9,983 shares of the utilities provider's stock worth $403,000 after acquiring an additional 366 shares during the period. Oppenheimer & Co. Inc. increased its position in FirstEnergy by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider's stock worth $718,000 after acquiring an additional 1,464 shares during the period. Brighton Jones LLC bought a new position in FirstEnergy during the fourth quarter worth about $256,000. Finally, Vontobel Holding Ltd. increased its position in FirstEnergy by 29.7% during the first quarter. Vontobel Holding Ltd. now owns 7,684 shares of the utilities provider's stock worth $311,000 after acquiring an additional 1,760 shares during the period. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Price Performance

Shares of FirstEnergy stock traded down $0.20 during midday trading on Tuesday, hitting $43.39. 523,104 shares of the company traded hands, compared to its average volume of 4,732,570. The stock has a market cap of $25.05 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 2.69 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The firm's fifty day moving average price is $42.61 and its 200-day moving average price is $41.36. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $44.58.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same period in the previous year, the firm posted $0.56 EPS. 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 earnings per share for the current year.

FirstEnergy Dividend Announcement

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

Wall Street Analysts Forecast Growth

FE has been the topic of a number of recent research reports. KeyCorp reaffirmed an "overweight" rating and set a $46.00 price target (down from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Mizuho raised their price target 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. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Barclays raised shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $43.00 to $49.00 in a report on Monday, August 25th. Finally, Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, FirstEnergy currently has an average rating of "Hold" and an average target price of $46.31.

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.