Oppenheimer Asset Management Inc. Sells 65,744 Shares of FirstEnergy Corporation $FE

Key Points

• Oppenheimer Asset Management sharply cut its FirstEnergy position in Q4, selling 65,744 shares and reducing its stake by 93.6% to 4,469 shares worth about $200,000.
• FirstEnergy’s latest quarter showed earnings in line with estimates at $0.72 per share, while revenue came in above expectations at $4.01 billion, up 11.6% year over year.
• The utility also raised its quarterly dividend to $0.465 per share, implying a 4.2% annual yield, even as analysts currently rate the stock a consensus Hold with an average price target of $51.92.

Oppenheimer Asset Management Inc. trimmed its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 93.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,469 shares of the utilities provider's stock after selling 65,744 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in FirstEnergy were worth $200,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Jackson Hole Capital Partners LLC raised its position in shares of FirstEnergy by 1.8% during the fourth quarter. Jackson Hole Capital Partners LLC now owns 90,036 shares of the utilities provider's stock worth $4,031,000 after acquiring an additional 1,615 shares during the last quarter. Spreng Capital Management Inc. bought a new stake in FirstEnergy in the fourth quarter worth approximately $251,000. Simplicity Wealth LLC increased its holdings in FirstEnergy by 16.0% in the fourth quarter. Simplicity Wealth LLC now owns 6,616 shares of the utilities provider's stock worth $296,000 after purchasing an additional 913 shares in the last quarter. Keybank National Association OH increased its holdings in FirstEnergy by 21.3% in the fourth quarter. Keybank National Association OH now owns 16,940 shares of the utilities provider's stock worth $758,000 after purchasing an additional 2,975 shares in the last quarter. Finally, Wealthfront Advisers LLC increased its holdings in FirstEnergy by 7.7% in the fourth quarter. Wealthfront Advisers LLC now owns 217,663 shares of the utilities provider's stock worth $9,745,000 after purchasing an additional 15,501 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Jefferies Financial Group lifted their target price on FirstEnergy from $50.00 to $52.00 and gave the stock a "hold" rating in a report on Tuesday, April 21st. Wells Fargo & Company reiterated an "overweight" rating and issued a $55.00 target price on shares of FirstEnergy in a report on Tuesday, April 21st. Mizuho set a $51.00 target price on FirstEnergy in a report on Thursday, February 19th. Morgan Stanley reiterated an "overweight" rating on shares of FirstEnergy in a report on Wednesday, February 11th. Finally, New Street Research set a $52.00 target price on FirstEnergy in a report on Tuesday, April 21st. Six research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $51.92.

FirstEnergy Trading Down 1.9%

Shares of FirstEnergy stock opened at $44.32 on Friday. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.42 and a current ratio of 0.52. FirstEnergy Corporation has a 52 week low of $39.28 and a 52 week high of $52.34. The stock has a 50 day moving average price of $50.03 and a two-hundred day moving average price of $47.65. The stock has a market capitalization of $25.64 billion, a PE ratio of 24.09, a price-to-earnings-growth ratio of 2.17 and a beta of 0.48.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.72 EPS for the quarter, meeting analysts' consensus estimates of $0.72. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.The firm had revenue of $4.01 billion during the quarter, compared to analysts' expectations of $3.80 billion. During the same quarter last year, the firm posted $0.67 earnings per share. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, equities analysts anticipate that FirstEnergy Corporation will post 2.73 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 7th will be paid a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 4.2%. This is a boost from FirstEnergy's previous quarterly dividend of $0.45. The ex-dividend date of this dividend is Thursday, May 7th. FirstEnergy's payout ratio is 101.09%.

Insider Buying and Selling at FirstEnergy

In other FirstEnergy news, CFO Jon Taylor K. sold 26,800 shares of the firm's stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $50.94, for a total value of $1,365,192.00. Following the completion of the sale, the chief financial officer owned 119,552 shares of the company's stock, valued at approximately $6,089,978.88. This trade represents a 18.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director James F. Oneil sold 7,945 shares of the firm's stock in a transaction that occurred on Wednesday, March 11th. The shares were sold at an average price of $50.60, for a total value of $402,017.00. Following the completion of the sale, the director directly owned 1,869 shares of the company's stock, valued at $94,571.40. This trade represents a 80.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 39,118 shares of company stock valued at $1,989,532. Company insiders own 0.14% of the company's stock.

FirstEnergy 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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