Sumitomo Mitsui Trust Group Inc. Cuts Holdings in FirstEnergy Corporation $FE

Key Points

• Sumitomo Mitsui Trust Group Inc. trimmed its FirstEnergy stake by 5.6% in the first quarter, selling 69,715 shares and ending with 1,174,981 shares valued at about $59.5 million.
• Institutional ownership in FirstEnergy remains high, with 89.41% of shares held by hedge funds and other institutional investors; several smaller firms also recently initiated or increased positions.
• Analysts remain cautiously positive on FE, with an average “Moderate Buy” rating and a consensus price target of $52.23, while the stock recently traded at $47.92 after the company reported quarterly EPS in line with estimates.

Sumitomo Mitsui Trust Group Inc. reduced its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 5.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,174,981 shares of the utilities provider's stock after selling 69,715 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.20% of FirstEnergy worth $59,525,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the business. State of Wyoming purchased a new position in FirstEnergy in the second quarter worth $25,000. Olistico Wealth LLC purchased a new stake in shares of FirstEnergy during the 4th quarter worth $31,000. DV Equities LLC purchased a new stake in shares of FirstEnergy during the 4th quarter worth $33,000. Pinnacle Bancorp Inc. grew its stake in shares of FirstEnergy by 44.4% during the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider's stock worth $38,000 after purchasing an additional 232 shares during the period. Finally, Quest 10 Wealth Builders Inc. grew its stake in shares of FirstEnergy by 507.9% during the 4th quarter. Quest 10 Wealth Builders Inc. now owns 766 shares of the utilities provider's stock worth $34,000 after purchasing an additional 640 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FE. Barclays raised their price objective on shares of FirstEnergy from $50.00 to $53.00 and gave the company an "overweight" rating in a research note on Wednesday, April 8th. Weiss Ratings lowered shares of FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a research report on Wednesday, June 17th. New Street Research set a $52.00 target price on shares of FirstEnergy in a report on Tuesday, April 21st. Wells Fargo & Company reiterated an "overweight" rating and set a $55.00 price target on shares of FirstEnergy in a research report on Tuesday, April 21st. Finally, Jefferies Financial Group boosted their price target on FirstEnergy from $50.00 to $52.00 and gave the stock a "hold" rating in a research note on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $52.23.

FirstEnergy Price Performance

FE traded up $0.29 during midday trading on Friday, reaching $47.92. 1,772,128 shares of the company's stock were exchanged, compared to its average volume of 3,795,127. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.52 and a quick ratio of 0.42. The stock has a market capitalization of $27.72 billion, a PE ratio of 26.04, a P/E/G ratio of 2.29 and a beta of 0.47. The business's 50-day moving average price is $46.43 and its 200 day moving average price is $47.81. FirstEnergy Corporation has a 1-year low of $40.01 and a 1-year high of $52.34.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $4.20 billion for the quarter, compared to the consensus estimate of $3.80 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.66%. The company's revenue for the quarter was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, equities analysts anticipate that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

About FirstEnergy

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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