Public Employees Retirement System of Ohio Sells 6,935 Shares of FirstEnergy Corporation $FE

Key Points

• The Public Employees Retirement System of Ohio reduced its stake in FirstEnergy Corporation by 3.9%, now holding 170,366 shares valued at approximately $6.86 million.
• FirstEnergy recently reported earnings of $0.52 per share, outperforming estimates and announced a quarterly dividend of $0.445, with a yield of 3.9%.
• Several institutional investors, including Vanguard Group and Boston Partners, increased their positions, reflecting strong interest as hedge funds own 89.41% of FirstEnergy's stock.

Public Employees Retirement System of Ohio cut its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 3.9% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 170,366 shares of the utilities provider's stock after selling 6,935 shares during the period. Public Employees Retirement System of Ohio's holdings in FirstEnergy were worth $6,859,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of FirstEnergy by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider's stock worth $2,673,792,000 after acquiring an additional 306,313 shares in the last quarter. Boston Partners increased its position in FirstEnergy by 14.9% in the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider's stock worth $767,952,000 after purchasing an additional 2,459,779 shares during the last quarter. Royal Bank of Canada raised its stake in 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 purchasing an additional 116,825 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in FirstEnergy by 0.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 3,430,753 shares of the utilities provider's stock valued at $138,671,000 after purchasing an additional 28,683 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in FirstEnergy by 0.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,664,698 shares of the utilities provider's stock valued at $107,707,000 after purchasing an additional 21,177 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Trading Up 2.8%

NYSE FE opened at $45.47 on Monday. The stock has a market cap of $26.25 billion, a PE ratio of 20.12, a PEG ratio of 2.79 and a beta of 0.50. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $45.47. The company's 50-day moving average price is $43.22 and its 200-day moving average price is $41.66. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data 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 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 quarter last year, the business posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Equities research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 annualized dividend and a yield of 3.9%. FirstEnergy's dividend payout ratio is 78.76%.

Wall Street Analysts Forecast Growth

FE has been the topic of a number of research reports. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Mizuho lifted their price target on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. KeyCorp restated an "overweight" rating and set a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Morgan Stanley lowered their price objective on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, UBS Group set a $44.00 target price on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $46.00.

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.

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