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 decreased its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 18.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 153,892 shares of the utilities provider's stock after selling 35,756 shares during the period. IFM Investors Pty Ltd's holdings in FirstEnergy were worth $6,220,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of FirstEnergy by 0.5% during the first quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider's stock valued at $2,673,792,000 after acquiring an additional 306,313 shares during the period. Boston Partners boosted its holdings in shares of FirstEnergy by 14.9% during the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider's stock valued at $767,952,000 after acquiring an additional 2,459,779 shares during the period. Soroban Capital Partners LP boosted its holdings in shares of FirstEnergy by 60.2% during the fourth quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock valued at $331,795,000 after acquiring an additional 3,133,083 shares during the period. Zimmer Partners LP boosted its holdings in shares of FirstEnergy by 33.4% during the fourth quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock valued at $195,672,000 after acquiring an additional 1,232,040 shares during the period. Finally, Royal Bank of Canada boosted its holdings in shares of FirstEnergy by 2.9% during the first quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider's stock valued at $165,674,000 after acquiring an additional 116,825 shares during the period. Institutional investors own 89.41% of the company's stock.

FirstEnergy Price Performance

NYSE FE traded up $0.21 on Friday, reaching $43.80. The company's stock had a trading volume of 2,766,595 shares, compared to its average volume of 3,282,178. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $44.78. 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 stock has a market cap of $25.29 billion, a PE ratio of 19.38, a PEG ratio of 2.68 and a beta of 0.50. The firm's 50 day moving average is $42.54 and its two-hundred day moving average is $41.30.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate 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 prior year, the company earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, sell-side analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 7th were 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 was Thursday, August 7th. FirstEnergy's payout ratio is presently 78.76%.

Analysts Set New Price Targets

FE has been the subject of several analyst reports. Barclays raised shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $43.00 to $49.00 in a report on Monday, August 25th. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the company a "neutral" rating in a 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 report on Friday, August 1st. Morgan Stanley reaffirmed an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Finally, KeyCorp reaffirmed 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. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat, FirstEnergy has a consensus rating of "Hold" and a consensus 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.