First Citizens Bank & Trust Co. Invests $19.46 Million in FirstEnergy Corporation $FE

First Citizens Bank & Trust Co. acquired a new position in shares of FirstEnergy Corporation (NYSE:FE) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 384,056 shares of the utilities provider’s stock, valued at approximately $19,456,000.

Other institutional investors have also added to or reduced their stakes in the company. Parallel Advisors LLC boosted its stake in FirstEnergy by 4.1% in the 4th quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider’s stock worth $241,000 after purchasing an additional 213 shares during the period. Simplicity Wealth LLC raised its stake in shares of FirstEnergy by 3.4% in the 1st quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 223 shares during the period. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of FirstEnergy by 5.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider’s stock valued at $209,000 after purchasing an additional 223 shares in the last quarter. Pinnacle Bancorp Inc. lifted its holdings in shares of FirstEnergy by 44.4% in the first quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 232 shares in the last quarter. Finally, Signaturefd LLC boosted its position in shares of FirstEnergy by 4.8% during the fourth quarter. Signaturefd LLC now owns 5,181 shares of the utilities provider’s stock worth $232,000 after buying an additional 235 shares during the period. 89.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Barclays increased their price objective on FirstEnergy from $53.00 to $55.00 and gave the stock an “overweight” rating in a report on Monday. Weiss Ratings cut FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Wolfe Research downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. TD Cowen raised shares of FirstEnergy from a “hold” rating to a “buy” rating and decreased their price target for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $52.00 price objective on shares of FirstEnergy in a report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $52.92.

FirstEnergy Price Performance

NYSE:FE opened at $48.34 on Wednesday. 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 stock’s 50-day simple moving average is $46.89 and its 200 day simple moving average is $48.03. The company has a market cap of $27.96 billion, a P/E ratio of 26.27, a P/E/G ratio of 2.32 and a beta of 0.47. FirstEnergy Corporation has a 52-week low of $41.03 and a 52-week high of $52.34.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. The firm had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $3.80 billion. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.The business’s quarterly revenue was up 11.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, sell-side analysts forecast that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy 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.