Resona Asset Management Co. Ltd. Has $7.07 Million Stock Holdings in FirstEnergy Corporation $FE

Key Points

• Resona Asset Management Co. Ltd. increased its position in FirstEnergy Corporation by 4.5% in Q1, owning 175,241 shares worth $7,074,000.
• FirstEnergy announced a quarterly dividend of $0.445, to be paid on September 1st, representing a 4.1% annualized dividend yield.
• Bank of America upgraded FirstEnergy's rating from "underperform" to "neutral," with a price target increase from $42 to $45.

Resona Asset Management Co. Ltd. raised its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 4.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 175,241 shares of the utilities provider's stock after acquiring an additional 7,569 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in FirstEnergy were worth $7,074,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the business. Cambridge Investment Research Advisors Inc. grew its holdings in FirstEnergy by 14.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider's stock valued at $2,883,000 after buying an additional 8,879 shares during the last quarter. Johnson Investment Counsel Inc. increased its position in FirstEnergy by 3.8% during the 1st quarter. Johnson Investment Counsel Inc. now owns 9,983 shares of the utilities provider's stock worth $403,000 after purchasing an additional 366 shares in the last quarter. Mariner LLC raised its stake in FirstEnergy by 16.1% in the 4th quarter. Mariner LLC now owns 95,039 shares of the utilities provider's stock valued at $3,781,000 after purchasing an additional 13,196 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in shares of FirstEnergy by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider's stock valued at $718,000 after buying an additional 1,464 shares during the period. Finally, Brighton Jones LLC acquired a new position in FirstEnergy in the fourth quarter valued at $256,000. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

Shares of FirstEnergy stock traded up $0.2350 during trading on Tuesday, reaching $43.0650. The company's stock had a trading volume of 603,013 shares, compared to its average volume of 4,902,504. The business's fifty day moving average price is $41.21 and its 200-day moving average price is $40.95. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The firm has a market cap of $24.87 billion, a price-to-earnings ratio of 19.05, a price-to-earnings-growth ratio of 2.67 and a beta of 0.48. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results 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. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the company posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 7th will be issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 7th. FirstEnergy's payout ratio is currently 78.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FE shares. Bank of America upgraded FirstEnergy from an "underperform" rating to a "neutral" rating and upped their price target for the stock from $42.00 to $45.00 in a report on Wednesday, April 23rd. Mizuho boosted their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. KeyCorp reissued an "overweight" rating and issued a $46.00 price target (down previously from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Finally, Evercore ISI upped their target price on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Six investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $46.08.

Insider Buying and Selling

In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total value of $503,640.00. Following the transaction, the chief accounting officer owned 183 shares of the company's stock, valued at approximately $7,680.51. This represents a 98.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company's stock.

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.