Vestcor Inc Increases Holdings in FirstEnergy Corporation $FE

Key Points

• Vestcor Inc boosted its FirstEnergy stake by 194.9% in the fourth quarter, ending with 53,854 shares valued at about $2.41 million.
• Several other institutional investors also increased positions, and 89.41% of FirstEnergy’s stock is now held by hedge funds and other institutions.
• FirstEnergy insiders sold shares recently, while analysts remain mixed: the stock has a Moderate Buy consensus with an average price target of $51.69.

Vestcor Inc raised its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 194.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 53,854 shares of the utilities provider's stock after buying an additional 35,595 shares during the period. Vestcor Inc's holdings in FirstEnergy were worth $2,411,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Eurizon Capital SGR S.p.A. purchased a new stake in shares of FirstEnergy in the 4th quarter worth $123,018,000. Boston Partners increased its stake in shares of FirstEnergy by 13.5% in the 3rd quarter. Boston Partners now owns 18,344,403 shares of the utilities provider's stock worth $841,161,000 after purchasing an additional 2,185,400 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in shares of FirstEnergy by 11,305.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider's stock worth $81,699,000 after purchasing an additional 1,957,673 shares in the last quarter. Marshall Wace LLP increased its stake in shares of FirstEnergy by 128.5% in the 3rd quarter. Marshall Wace LLP now owns 3,275,409 shares of the utilities provider's stock worth $150,079,000 after purchasing an additional 1,841,946 shares in the last quarter. Finally, Victory Capital Management Inc. increased its stake in shares of FirstEnergy by 104.3% in the 3rd quarter. Victory Capital Management Inc. now owns 3,528,747 shares of the utilities provider's stock worth $161,687,000 after purchasing an additional 1,801,729 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FirstEnergy

In related news, CFO Jon Taylor K. sold 26,800 shares of the company's stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $50.94, for a total value of $1,365,192.00. Following the completion of the transaction, the chief financial officer owned 119,552 shares of the company's stock, valued at approximately $6,089,978.88. This represents a 18.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James F. Oneil sold 7,945 shares of the company's stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $50.60, for a total transaction of $402,017.00. Following the completion of the transaction, the director directly owned 1,869 shares of the company's stock, valued at $94,571.40. This represents a 80.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on FE shares. TD Cowen upgraded FirstEnergy from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Scotiabank restated an "outperform" rating on shares of FirstEnergy in a research note on Thursday, February 19th. Wells Fargo & Company restated an "overweight" rating and issued a $55.00 price objective on shares of FirstEnergy in a research note on Tuesday, April 21st. Barclays upped their price objective on FirstEnergy from $50.00 to $53.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 8th. Finally, Wolfe Research lowered FirstEnergy from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $51.69.

FirstEnergy Trading Up 0.0%

Shares of FirstEnergy stock opened at $46.44 on Monday. The company has a market capitalization of $26.86 billion, a P/E ratio of 25.24, a P/E/G ratio of 2.22 and a beta of 0.47. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.42 and a current ratio of 0.52. The company has a fifty day moving average of $47.92 and a 200 day moving average of $47.53. FirstEnergy Corporation has a fifty-two week low of $39.28 and a fifty-two week high of $52.34.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share for the quarter, hitting the consensus estimate of $0.72. The company had revenue of $4.20 billion during 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%. FirstEnergy's quarterly revenue was up 11.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.67 EPS. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. On average, sell-side analysts anticipate that FirstEnergy Corporation will post 2.73 earnings per share for the current fiscal year.

FirstEnergy Company Profile

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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