FirstEnergy Corporation $FE Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in FirstEnergy Corporation by 59.4%, holding 1,205,121 shares valued at $48.71 million as of the latest SEC filing.
• Institutional investors own approximately 89.41% of FirstEnergy's stock, with notable increases in holdings from firms such as Vanguard and Boston Partners.
• The company recently reported earnings of $0.52 EPS for the latest quarter, beating analyst expectations, and declared a quarterly dividend of $0.445 per share with an annualized yield of 4.1%.

Raymond James Financial Inc. grew its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 59.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,205,121 shares of the utilities provider's stock after acquiring an additional 449,234 shares during the quarter. Raymond James Financial Inc. owned about 0.21% of FirstEnergy worth $48,711,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new stake in FirstEnergy during the 1st quarter valued at about $27,000. TruNorth Capital Management LLC boosted its position in 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 buying an additional 490 shares during the last quarter. Bernard Wealth Management Corp. acquired a new position in FirstEnergy in the 4th quarter worth approximately $33,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in FirstEnergy during the 1st quarter worth approximately $40,000. Finally, Tsfg LLC lifted its stake in FirstEnergy by 143.6% during the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 632 shares during the period. Hedge funds and other institutional investors own 89.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on FE. Evercore ISI increased their price objective on shares of FirstEnergy from $41.00 to $47.00 and gave the stock an "outperform" rating in a research note on Monday, April 28th. Morgan Stanley lowered their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. KeyCorp reiterated an "overweight" rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. UBS Group set a $44.00 price objective on FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, Mizuho raised their target price on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Six research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company's stock. Based on data from MarketBeat, FirstEnergy has a consensus rating of "Hold" and a consensus target price of $46.08.

FirstEnergy Price Performance

NYSE FE traded up $0.2650 during trading hours on Friday, reaching $43.7450. The company's stock had a trading volume of 2,959,152 shares, compared to its average volume of 3,926,687. The firm has a market capitalization of $25.26 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 2.69 and a beta of 0.48. The company's 50-day moving average is $41.47 and its two-hundred day moving average is $41.04. 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 1-year low of $37.58 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. The company had revenue of $3.40 billion during the quarter, compared to analysts' expectations 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 business posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 7th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 4.1%. The ex-dividend date is Thursday, August 7th. FirstEnergy's payout ratio is presently 78.76%.

FirstEnergy Profile

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.