Securian Asset Management Inc. Sells 336 Shares of FirstEnergy Corporation $FE

Securian Asset Management Inc. trimmed its stake in shares of FirstEnergy Corporation (NYSE:FE) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,747 shares of the utilities provider’s stock after selling 336 shares during the quarter. Securian Asset Management Inc.’s holdings in FirstEnergy were worth $1,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. raised its position in shares of FirstEnergy by 14.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider’s stock worth $2,883,000 after acquiring an additional 8,879 shares during the last quarter. Oppenheimer & Co. Inc. raised its position in shares of FirstEnergy by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider’s stock worth $718,000 after acquiring an additional 1,464 shares during the last quarter. Brighton Jones LLC bought a new position in shares of FirstEnergy during the fourth quarter worth about $256,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of FirstEnergy by 0.8% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,664,698 shares of the utilities provider’s stock worth $107,707,000 after acquiring an additional 21,177 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its position in shares of FirstEnergy by 29.7% during the first quarter. Vontobel Holding Ltd. now owns 7,684 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 1,760 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Down 1.3%

Shares of FirstEnergy stock opened at $46.66 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $48.20. The stock has a 50 day moving average price of $44.74 and a two-hundred day moving average price of $42.55. The stock has a market capitalization of $26.94 billion, a PE ratio of 20.38, a price-to-earnings-growth ratio of 3.20 and a beta of 0.52.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data 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 return on equity of 11.20% and a net margin of 9.19%.The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the firm posted $0.85 earnings per share. The company’s revenue for the quarter was up 10.8% compared to the same quarter last year. 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 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

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

Analyst Ratings Changes

FE has been the subject of several recent analyst reports. KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Citigroup initiated coverage on FirstEnergy in a research note on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price for the company. Morgan Stanley raised their target price on FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. Seven research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $47.17.

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.