UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Position 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 holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 0.8% in the 1st quarter, according to the company in its most recent 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 quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned about 0.46% of FirstEnergy worth $107,707,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of FE. Brighton Jones LLC acquired a new stake in FirstEnergy in the 4th quarter valued at $256,000. Cetera Investment Advisers lifted its stake in FirstEnergy by 28.8% during the 4th quarter. Cetera Investment Advisers now owns 99,729 shares of the utilities provider's stock valued at $3,967,000 after acquiring an additional 22,284 shares in the last quarter. Focus Partners Wealth lifted its stake in FirstEnergy by 1.4% during the 4th quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock valued at $835,000 after acquiring an additional 272 shares in the last quarter. Gotham Asset Management LLC lifted its stake in FirstEnergy by 8.3% during the 4th quarter. Gotham Asset Management LLC now owns 11,004 shares of the utilities provider's stock valued at $438,000 after acquiring an additional 844 shares in the last quarter. Finally, Janus Henderson Group PLC lifted its stake in FirstEnergy by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 62,873 shares of the utilities provider's stock valued at $2,501,000 after acquiring an additional 1,176 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

Wall Street Analysts Forecast Growth

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

FirstEnergy Stock Performance

FirstEnergy stock traded down $0.17 during midday trading on Monday, reaching $43.63. The stock had a trading volume of 2,275,467 shares, compared to its average volume of 3,256,355. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $44.78. The firm's 50-day moving average price is $42.61 and its 200 day moving average price is $41.36. The firm has a market capitalization of $25.19 billion, a PE ratio of 19.31, a P/E/G ratio of 2.69 and a beta of 0.50. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) 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 business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.45 billion. During the same period in the previous year, the business posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 7th were paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was 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.