Oppenheimer Asset Management Inc. Raises Position in FirstEnergy Corporation $FE

Oppenheimer Asset Management Inc. lifted its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 1.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 76,098 shares of the utilities provider’s stock after purchasing an additional 878 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in FirstEnergy were worth $3,064,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in FirstEnergy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock valued at $2,673,792,000 after buying an additional 306,313 shares during the period. Boston Partners boosted its position 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 worth $767,952,000 after acquiring an additional 2,459,779 shares during the last quarter. Royal Bank of Canada boosted its position in shares of FirstEnergy by 2.9% in the first quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock worth $165,674,000 after acquiring an additional 116,825 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in FirstEnergy by 0.8% in the first 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in 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 purchasing an additional 21,177 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Price Performance

FE stock opened at $46.18 on Wednesday. The firm has a market cap of $26.66 billion, a P/E ratio of 20.16, a price-to-earnings-growth ratio of 2.84 and a beta of 0.52. 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 1 year low of $37.58 and a 1 year high of $48.20. The stock has a 50-day simple moving average of $44.93 and a 200-day simple moving average of $42.75.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, topping 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 in the prior year, the business earned $0.85 EPS. FirstEnergy’s quarterly revenue was up 10.8% compared to the same quarter last year. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. On average, equities analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently declared 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. This represents a $1.78 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $49.00 in a report on Monday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Wells Fargo & Company initiated coverage on FirstEnergy in a research note on Monday. They set an “overweight” rating and a $54.00 price target for the company. Mizuho lifted their price objective on FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 14th. Eight investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.08.

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.