WS Management Lllp Sells 63,427 Shares of FirstEnergy Corporation $FE

Key Points

• WS Management Lllp sold 63,427 shares of FirstEnergy Corporation, reducing its holdings by 22.7%, leaving them with 215,535 shares valued at approximately $8.71 million.
• Several hedge funds, including Soroban Capital Partners LP and Federated Hermes Inc., increased their investments in FirstEnergy significantly, with Federated Hermes raising its holdings by over 133,000% during the first quarter.
• FirstEnergy recently reported earnings of $0.52 per share, slightly above analysts' expectations, and announced a quarterly dividend of $0.445 per share, indicating a dividend yield of 4.1%.

WS Management Lllp reduced its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 22.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 215,535 shares of the utilities provider's stock after selling 63,427 shares during the quarter. FirstEnergy comprises 1.0% of WS Management Lllp's holdings, making the stock its 15th largest holding. WS Management Lllp's holdings in FirstEnergy were worth $8,712,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in FE. Soroban Capital Partners LP increased its holdings in FirstEnergy by 60.2% in the fourth 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 in the last quarter. Boston Partners increased its holdings in FirstEnergy by 14.9% in the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider's stock worth $767,952,000 after purchasing an additional 2,459,779 shares in the last quarter. Federated Hermes Inc. increased its holdings in FirstEnergy by 133,614.8% in the first quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider's stock worth $93,394,000 after purchasing an additional 2,308,864 shares in the last quarter. Wealthquest Corp bought a new stake in FirstEnergy in the first quarter worth approximately $53,169,000. Finally, Zimmer Partners LP increased its holdings in FirstEnergy by 33.4% in the fourth quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock worth $195,672,000 after purchasing an additional 1,232,040 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FE shares. Morgan Stanley lowered their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. 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. Barclays raised FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $43.00 to $49.00 in a research note on Monday. 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. Finally, Evercore ISI raised their price objective on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to data from MarketBeat.com, FirstEnergy has a consensus rating of "Hold" and a consensus target price of $46.31.

FirstEnergy Stock Down 0.3%

Shares of NYSE:FE opened at $43.65 on Tuesday. The stock has a market cap of $25.20 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.69 and a beta of 0.48. 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 Corporation has a 12-month low of $37.58 and a 12-month high of $44.97. The business's 50 day moving average is $41.55 and its 200 day moving average is $41.07.

FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter in the previous year, the firm earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, sell-side analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

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

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