Magellan Asset Management Ltd Raises Stock Position in FirstEnergy Corporation $FE

Magellan Asset Management Ltd raised its stake in shares of FirstEnergy Corporation (NYSE:FE) by 4.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 473,459 shares of the utilities provider’s stock after purchasing an additional 21,740 shares during the quarter. Magellan Asset Management Ltd owned approximately 0.08% of FirstEnergy worth $21,197,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of FirstEnergy by 11,305.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock valued at $81,699,000 after buying an additional 1,957,673 shares in the last quarter. Heartland Advisors Inc. boosted its holdings in shares of FirstEnergy by 29.0% during the 3rd quarter. Heartland Advisors Inc. now owns 324,856 shares of the utilities provider’s stock valued at $14,885,000 after buying an additional 72,964 shares in the last quarter. Harvest Portfolios Group Inc. boosted its holdings in shares of FirstEnergy by 15.3% during the 3rd quarter. Harvest Portfolios Group Inc. now owns 208,941 shares of the utilities provider’s stock valued at $9,574,000 after buying an additional 27,655 shares in the last quarter. Wealthfront Advisers LLC boosted its holdings in shares of FirstEnergy by 18.1% during the 3rd quarter. Wealthfront Advisers LLC now owns 202,162 shares of the utilities provider’s stock valued at $9,263,000 after buying an additional 30,955 shares in the last quarter. Finally, Brighton Jones LLC bought a new stake in shares of FirstEnergy during the 4th quarter valued at $256,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $45.66 on Friday. The stock has a market cap of $26.41 billion, a price-to-earnings ratio of 24.82, a PEG ratio of 2.18 and a beta of 0.47. The firm’s 50-day moving average is $47.98 and its 200 day moving average is $47.53. FirstEnergy Corporation has a 1 year low of $39.28 and a 1 year high of $52.34. The company has a debt-to-equity ratio of 1.87, a current ratio of 0.52 and a quick ratio of 0.42.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.72. The company had revenue of $4.20 billion for the quarter, compared to analysts’ expectations of $3.80 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.66%. FirstEnergy’s revenue was up 11.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.67 EPS. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. Sell-side analysts anticipate that FirstEnergy Corporation will post 2.73 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FE. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a report on Thursday, February 19th. Mizuho set a $51.00 price target on shares of FirstEnergy in a research note on Thursday, February 19th. Wolfe Research cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Weiss Ratings upgraded shares of FirstEnergy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday. Finally, Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, February 11th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $51.69.

Insider Activity

In other FirstEnergy news, Director James F. Oneil sold 7,945 shares of the company’s stock in a transaction dated Wednesday, March 11th. The shares were sold at an average price of $50.60, for a total transaction of $402,017.00. Following the transaction, the director owned 1,869 shares in the company, valued at approximately $94,571.40. This represents a 80.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jon Taylor K. sold 26,800 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $50.94, for a total transaction of $1,365,192.00. Following the transaction, the chief financial officer owned 119,552 shares in the company, valued at $6,089,978.88. This represents a 18.31% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.14% of the stock is currently owned by corporate insiders.

About FirstEnergy

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.