FirstEnergy Corporation $FE Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC cut its stake in shares of FirstEnergy Corporation (NYSE:FE) by 99.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 181,057 shares of the utilities provider’s stock after selling 30,000,000 shares during the quarter. Calamos Advisors LLC’s holdings in FirstEnergy were worth $7,289,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in FE. Vanguard Group Inc. lifted its stake in FirstEnergy by 0.5% in the first quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock worth $2,673,792,000 after acquiring an additional 306,313 shares during the last quarter. Boston Partners lifted 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 worth $767,952,000 after purchasing an additional 2,459,779 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of FirstEnergy by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 13,091,114 shares of the utilities provider’s stock worth $524,764,000 after purchasing an additional 146,742 shares during the last quarter. Royal Bank of Canada grew its stake in shares of FirstEnergy by 2.9% during the first quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock worth $165,674,000 after purchasing an additional 116,825 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in FirstEnergy by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,430,753 shares of the utilities provider’s stock valued at $138,671,000 after buying an additional 28,683 shares during the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FE has been the subject of several analyst reports. Scotiabank upped their price objective on FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 24th. UBS Group upped their price target on FirstEnergy from $47.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Citigroup initiated coverage on shares of FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price target on the stock. Morgan Stanley boosted their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, Mizuho increased their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Price Performance

FE stock opened at $45.70 on Friday. The company has a market capitalization of $26.40 billion, a P/E ratio of 19.95, a PEG ratio of 2.80 and a beta of 0.53. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $48.20. The business has a 50 day simple moving average of $45.51 and a 200-day simple moving average of $43.10. The company has a current ratio of 0.75, a quick ratio of 0.51 and a debt-to-equity ratio of 1.80.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The business had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the previous year, the company posted $0.85 EPS. The company’s quarterly revenue was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, equities analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. FirstEnergy’s dividend payout ratio is 77.73%.

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.