Korea Investment CORP Sells 82,936 Shares of FirstEnergy Corporation $FE

Key Points

• Korea Investment CORP cut its stake in FirstEnergy by 29.6%, selling 82,936 shares and leaving 197,318 shares valued at about $9.04 million as of the latest SEC filing.
• FirstEnergy raised its quarterly dividend to $0.465 (annualized $1.86) for a yield of about 3.7%, while the payout ratio stands at 101.14%.
• The company reported quarterly EPS of $0.53 (beating the $0.52 consensus), revenue of $3.80 billion, and set FY2026 EPS guidance of 2.62–2.82.

Korea Investment CORP cut its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 29.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 197,318 shares of the utilities provider's stock after selling 82,936 shares during the period. Korea Investment CORP's holdings in FirstEnergy were worth $9,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in FE. State of Wyoming bought a new stake in shares of FirstEnergy in the second quarter valued at about $25,000. American National Bank & Trust increased its position in FirstEnergy by 380.2% during the 3rd quarter. American National Bank & Trust now owns 581 shares of the utilities provider's stock valued at $27,000 after purchasing an additional 460 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of FirstEnergy in the 3rd quarter valued at about $27,000. TruNorth Capital Management LLC lifted its position in shares of FirstEnergy by 187.5% in the 3rd quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider's stock worth $28,000 after purchasing an additional 405 shares during the period. Finally, Caldwell Trust Co bought a new position in shares of FirstEnergy during the second quarter valued at approximately $35,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

FE opened at $50.64 on Thursday. The company has a market cap of $29.26 billion, a P/E ratio of 28.77, a price-to-earnings-growth ratio of 2.66 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.83. The firm's 50-day moving average price is $47.97 and its 200-day moving average price is $46.23. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $51.39.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Tuesday, February 17th. The utilities provider reported $0.53 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. The company had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.20 billion. FirstEnergy had a net margin of 6.76% and a return on equity of 10.50%. During the same period last year, the business earned $0.67 EPS. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, equities analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 7th will be given a dividend of $0.465 per share. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.86 dividend on an annualized basis and a yield of 3.7%. This is an increase from FirstEnergy's previous quarterly dividend of $0.45. FirstEnergy's payout ratio is presently 101.14%.

Insider Buying and Selling at FirstEnergy

In other news, CAO Jason Lisowski sold 3,000 shares of the firm's stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $50.84, for a total value of $152,520.00. Following the completion of the transaction, the chief accounting officer directly owned 7,176 shares in the company, valued at $364,827.84. This trade represents a 29.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.17% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FE. Barclays lowered their target price on FirstEnergy from $51.00 to $50.00 and set an "overweight" rating for the company in a report on Thursday, January 22nd. Weiss Ratings downgraded FirstEnergy from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Thursday, February 19th. UBS Group cut their target price on FirstEnergy from $49.00 to $46.00 and set a "neutral" rating on the stock in a research note on Wednesday, December 17th. Scotiabank reissued an "outperform" rating on shares of FirstEnergy in a research report on Thursday, February 19th. Finally, Wells Fargo & Company reduced their price objective on shares of FirstEnergy from $54.00 to $53.00 and set an "overweight" rating for the company in a research note on Tuesday, January 20th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, FirstEnergy presently has an average rating of "Moderate Buy" and an average price target of $49.31.

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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