Elo Mutual Pension Insurance Co Raises Holdings in FirstEnergy Corporation $FE

Elo Mutual Pension Insurance Co raised its stake in FirstEnergy Corporation (NYSE:FE) by 16.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 54,638 shares of the utilities provider’s stock after buying an additional 7,837 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in FirstEnergy were worth $2,200,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Boston Partners raised its stake in shares of FirstEnergy by 14.9% in the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock valued at $767,952,000 after acquiring an additional 2,459,779 shares in the last quarter. Federated Hermes Inc. raised its position in FirstEnergy by 133,614.8% during the 1st quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider’s stock worth $93,394,000 after buying an additional 2,308,864 shares during the last quarter. Wealthquest Corp acquired a new stake in FirstEnergy in the first quarter valued at $53,169,000. Vanguard Group Inc. boosted its position in 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 purchasing an additional 837,872 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in shares of FirstEnergy by 82.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,326,830 shares of the utilities provider’s stock valued at $53,418,000 after purchasing an additional 598,732 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on FE shares. Mizuho boosted their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 24th. UBS Group lifted their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Morgan Stanley lifted their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. Finally, Citigroup assumed coverage on FirstEnergy in a report on Tuesday, October 7th. They issued a “buy” rating and a $53.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of “Moderate Buy” and a consensus price target of $49.08.

FirstEnergy Price Performance

FirstEnergy stock opened at $47.39 on Thursday. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $48.20. The business’s fifty day moving average is $46.10 and its two-hundred day moving average is $43.34. The firm has a market cap of $27.37 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.80 and a beta of 0.53. 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 (NYSE:FE) last announced its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Equities research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

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