UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Holdings in FirstEnergy Corporation $FE

Key Points

• UBS Asset Management has increased its stake in FirstEnergy Corporation by 0.8%, acquiring an additional 21,177 shares, bringing their total holdings to approximately 2.66 million shares valued at $107.7 million.
• FirstEnergy recently reported earnings of $0.52 per share for the last quarter, exceeding profit expectations of $0.50, while total revenue was $3.40 billion, slightly below the projected $3.45 billion.
• The company declared a quarterly dividend of $0.445 per share, resulting in a dividend yield of 4.1% with a payout ratio of 78.76%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in FirstEnergy Corporation (NYSE:FE - Free Report) by 0.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,664,698 shares of the utilities provider's stock after purchasing an additional 21,177 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.46% of FirstEnergy worth $107,707,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in FE. Soroban Capital Partners LP grew its position in FirstEnergy by 60.2% in the 4th quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock worth $331,795,000 after purchasing an additional 3,133,083 shares during the period. Boston Partners grew its position in shares of FirstEnergy by 14.9% during the 1st quarter. Boston Partners now owns 18,962,859 shares of the utilities provider's stock valued at $767,952,000 after acquiring an additional 2,459,779 shares during the period. Federated Hermes Inc. grew its position in shares of FirstEnergy by 133,614.8% during the 1st quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider's stock valued at $93,394,000 after acquiring an additional 2,308,864 shares during the period. Wealthquest Corp bought a new stake in shares of FirstEnergy during the 1st quarter valued at $53,169,000. Finally, Zimmer Partners LP grew its position in shares of FirstEnergy by 33.4% during the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock valued at $195,672,000 after acquiring an additional 1,232,040 shares during the period. Institutional investors own 89.41% of the company's stock.

FirstEnergy Trading Up 0.5%

FE stock traded up $0.20 during mid-day trading on Thursday, reaching $43.64. The company had a trading volume of 526,707 shares, compared to its average volume of 4,710,991. The firm has a 50 day moving average of $42.74 and a 200 day moving average of $41.38. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $44.58. The company has a market capitalization of $25.20 billion, a PE ratio of 19.31, a price-to-earnings-growth ratio of 2.65 and a beta of 0.50. 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 (NYSE:FE - Get Free Report) last announced its quarterly earnings results 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. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. The firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.45 billion. During the same quarter in the prior year, the company earned $0.56 EPS. 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 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 7th were given a dividend of $0.445 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.1%. FirstEnergy's dividend payout ratio is presently 78.76%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FE shares. KeyCorp reissued an "overweight" rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a research report on Thursday, August 21st. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and lifted their target price for the company from $43.00 to $49.00 in a research note on Monday, August 25th. Mizuho lifted their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, UBS Group set a $44.00 target price on shares of FirstEnergy and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $46.31.

FirstEnergy Company 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.