Dynamic Technology Lab Private Ltd Raises Holdings in FirstEnergy Corporation $FE

Dynamic Technology Lab Private Ltd raised its stake in FirstEnergy Corporation (NYSE:FE) by 1,131.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 76,010 shares of the utilities provider’s stock after purchasing an additional 69,840 shares during the period. FirstEnergy comprises 0.4% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 17th biggest position. Dynamic Technology Lab Private Ltd’s holdings in FirstEnergy were worth $3,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of FirstEnergy by 1.3% during the second quarter. Vanguard Group Inc. now owns 66,988,086 shares of the utilities provider’s stock worth $2,696,940,000 after buying an additional 837,872 shares during the period. Boston Partners grew its holdings in 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 acquiring an additional 2,459,779 shares in the last quarter. Geode Capital Management LLC increased its position in shares of FirstEnergy by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,091,114 shares of the utilities provider’s stock valued at $524,764,000 after purchasing an additional 146,742 shares during the last quarter. Royal Bank of Canada increased its position in shares of FirstEnergy by 2.9% in the 1st quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock valued at $165,674,000 after purchasing an additional 116,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of FirstEnergy by 0.8% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,430,753 shares of the utilities provider’s stock valued at $138,671,000 after purchasing an additional 28,683 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. UBS Group boosted their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Morgan Stanley lifted their price target on FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Scotiabank increased their price objective on FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, October 24th. Mizuho raised their target price on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company raised FirstEnergy to a “strong-buy” rating in a report on Tuesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $49.08.

FirstEnergy Stock Performance

Shares of FE stock opened at $46.29 on Thursday. The stock’s 50-day moving average is $45.75 and its two-hundred day moving average is $43.20. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.51 and a current ratio of 0.75. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $48.20. The firm has a market cap of $26.74 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.80 and a beta of 0.53.

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

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio is presently 77.73%.

FirstEnergy 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.