Quantbot Technologies LP Purchases New Shares in FirstEnergy Corporation $FE

Key Points

• Quantbot Technologies LP has acquired a new stake in FirstEnergy Corporation, purchasing 38,260 shares valued at approximately $1.546 million.
• FirstEnergy reported a Q2 EPS of $0.52, exceeding analysts' estimates, and provided FY 2025 guidance for EPS between $2.400 and $2.600.
• The company will pay a quarterly dividend of $0.445 on September 1st, resulting in an annualized yield of 4.1%.

Quantbot Technologies LP acquired a new stake in FirstEnergy Corporation (NYSE:FE - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 38,260 shares of the utilities provider's stock, valued at approximately $1,546,000.

A number of other institutional investors have also recently made changes to their positions in FE. N.E.W. Advisory Services LLC acquired a new position in shares of FirstEnergy in the first quarter valued at approximately $27,000. TruNorth Capital Management LLC grew its holdings in shares of FirstEnergy by 226.9% in the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 490 shares in the last quarter. Bernard Wealth Management Corp. acquired a new position in shares of FirstEnergy in the fourth quarter valued at approximately $33,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of FirstEnergy in the first quarter valued at approximately $40,000. Finally, Tsfg LLC grew its holdings in shares of FirstEnergy by 143.6% in the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 632 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

Wall Street Analyst Weigh In

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

FirstEnergy Stock Down 0.4%

Shares of NYSE:FE traded down $0.18 during trading on Thursday, hitting $43.60. 692,815 shares of the company were exchanged, compared to its average volume of 4,850,335. The stock has a market capitalization of $25.17 billion, a P/E ratio of 19.30, a PEG ratio of 2.68 and a beta of 0.48. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.97. The firm's 50 day moving average price is $41.71 and its 200-day moving average price is $41.11.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The business 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 quarter in the previous year, the firm earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Stockholders of record on Thursday, August 7th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 4.1%. The ex-dividend date is Thursday, August 7th. FirstEnergy's payout ratio is currently 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.