Profund Advisors LLC Boosts Holdings in FirstEnergy Corporation $FE

Profund Advisors LLC boosted its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 27.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 25,824 shares of the utilities provider’s stock after acquiring an additional 5,622 shares during the period. Profund Advisors LLC’s holdings in FirstEnergy were worth $1,040,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. DekaBank Deutsche Girozentrale increased its position in FirstEnergy by 1.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 84,565 shares of the utilities provider’s stock worth $3,355,000 after buying an additional 1,349 shares in the last quarter. Atria Investments Inc boosted its stake in shares of FirstEnergy by 84.7% during the second quarter. Atria Investments Inc now owns 52,238 shares of the utilities provider’s stock valued at $2,103,000 after acquiring an additional 23,959 shares during the last quarter. Brighton Jones LLC acquired a new position in FirstEnergy in the 4th quarter valued at about $256,000. Nordea Investment Management AB raised its stake in FirstEnergy by 3.7% in the 2nd quarter. Nordea Investment Management AB now owns 26,621 shares of the utilities provider’s stock valued at $1,060,000 after purchasing an additional 956 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in FirstEnergy by 49.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 48,537 shares of the utilities provider’s stock valued at $1,954,000 after purchasing an additional 16,046 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Trading Up 0.3%

FE stock opened at $46.28 on Wednesday. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. The company has a market cap of $26.73 billion, a price-to-earnings ratio of 20.21, a PEG ratio of 2.80 and a beta of 0.53. The business has a fifty day simple moving average of $45.41 and a 200-day simple moving average of $43.06. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $48.20.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter last year, the firm earned $0.85 earnings per share. The firm’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. On average, equities research analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 payout ratio is presently 77.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FE shares. Jefferies Financial Group lifted their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. Wells Fargo & Company upgraded shares of FirstEnergy to a “strong-buy” rating in a research report on Tuesday, October 28th. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. Morgan Stanley increased their price target on FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Scotiabank raised their price objective on FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, FirstEnergy has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

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.