MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Position in FirstEnergy Corporation $FE

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in FirstEnergy Corporation by 30.0%, owning a total of 136,668 shares worth $5.51 million as of the latest SEC filing.
• FirstEnergy reported $0.52 earnings per share for the quarter, beating estimates, and set FY 2025 guidance at 2.400-2.600 EPS.
• The company declared a quarterly dividend of $0.445, translating to an annual dividend yield of 4.1%, with a payout ratio of 78.76%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 30.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 136,668 shares of the utilities provider's stock after buying an additional 31,547 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in FirstEnergy were worth $5,516,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Dakota Wealth Management grew its stake in shares of FirstEnergy by 3.4% in the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider's stock worth $309,000 after acquiring an additional 249 shares in the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of FirstEnergy by 2.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider's stock worth $437,000 after acquiring an additional 255 shares in the last quarter. Equitable Trust Co. grew its stake in shares of FirstEnergy by 1.2% in the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider's stock worth $917,000 after acquiring an additional 266 shares in the last quarter. Focus Partners Wealth grew its stake in shares of FirstEnergy by 1.4% in the 4th quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock worth $835,000 after acquiring an additional 272 shares in the last quarter. Finally, Firethorn Wealth Partners LLC grew its stake in shares of FirstEnergy by 5.5% in the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider's stock worth $222,000 after acquiring an additional 287 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

Wall Street Analysts Forecast Growth

FE has been the subject of several recent analyst reports. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. Mizuho increased their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Morgan Stanley restated an "overweight" rating on shares of FirstEnergy in a research report on Thursday, August 21st. Finally, KeyCorp restated an "overweight" rating and set a $46.00 price target (down previously from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, FirstEnergy has an average rating of "Hold" and a consensus target price of $46.31.

FirstEnergy Stock Performance

FE traded up $0.21 during trading on Friday, hitting $43.80. 2,766,595 shares of the company traded hands, compared to its average volume of 3,282,178. The firm has a market cap of $25.29 billion, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 2.68 and a beta of 0.50. The stock's fifty day moving average is $42.54 and its 200 day moving average is $41.31. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.78.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $3.40 billion for 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 firm earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm 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. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.78 annualized dividend and a yield of 4.1%. FirstEnergy's dividend payout ratio is 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.