FirstEnergy Corporation $FE Stake Cut by Invesco Ltd.

Invesco Ltd. lessened its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 84.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,203,093 shares of the utilities provider’s stock after selling 64,053,481 shares during the quarter. Invesco Ltd. owned approximately 2.11% of FirstEnergy worth $491,297,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the stock. CWM LLC boosted its stake in shares of FirstEnergy by 2.0% during the 2nd quarter. CWM LLC now owns 12,044 shares of the utilities provider’s stock valued at $485,000 after buying an additional 240 shares during the period. Kohmann Bosshard Financial Services LLC grew its stake in FirstEnergy by 0.5% in the second quarter. Kohmann Bosshard Financial Services LLC now owns 48,454 shares of the utilities provider’s stock valued at $1,951,000 after purchasing an additional 241 shares in the last quarter. Manchester Capital Management LLC increased its position in FirstEnergy by 15.2% in the 2nd quarter. Manchester Capital Management LLC now owns 1,834 shares of the utilities provider’s stock worth $74,000 after purchasing an additional 242 shares during the last quarter. Quadcap Wealth Management LLC raised its stake in shares of FirstEnergy by 0.8% during the 2nd quarter. Quadcap Wealth Management LLC now owns 31,010 shares of the utilities provider’s stock worth $1,248,000 after purchasing an additional 246 shares in the last quarter. Finally, Kovitz Investment Group Partners LLC lifted its holdings in shares of FirstEnergy by 2.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider’s stock valued at $437,000 after buying an additional 255 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

Shares of FirstEnergy stock opened at $45.13 on Friday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.64. The company has a market cap of $26.07 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 2.76 and a beta of 0.66. The firm has a fifty day moving average price of $46.41 and a two-hundred day moving average price of $43.51. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20.

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 net margin of 9.19% and a return on equity of 11.15%. The business had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. The firm’s revenue for the quarter was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, December 1st. Stockholders of record on Friday, November 7th were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend was Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on FE shares. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. Morgan Stanley increased their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. KeyCorp downgraded shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 14th. Wells Fargo & Company upgraded shares of FirstEnergy to a “strong-buy” rating in a report on Tuesday, October 28th. Finally, Jefferies Financial Group increased their price target on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company. According to MarketBeat, FirstEnergy currently has an average rating of “Moderate Buy” and a consensus target price 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.