Ontario Teachers Pension Plan Board Acquires Shares of 108,286 FirstEnergy Corporation $FE

Ontario Teachers Pension Plan Board bought a new stake in shares of FirstEnergy Corporation (NYSE:FE) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 108,286 shares of the utilities provider’s stock, valued at approximately $4,360,000.

Several other institutional investors also recently modified their holdings of the business. Investment Research & Advisory Group Inc. bought a new stake in FirstEnergy during the second quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of FirstEnergy during the second quarter valued at approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in shares of FirstEnergy during the first quarter valued at approximately $27,000. Capital Advisors Ltd. LLC boosted its position in shares of FirstEnergy by 186.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 440 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of FirstEnergy in the 1st quarter worth approximately $40,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

FE opened at $45.92 on Friday. The company’s 50-day simple moving average is $45.56 and its two-hundred day simple moving average is $43.12. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.51 and a current ratio of 0.75. The stock has a market capitalization of $26.53 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.80 and a beta of 0.53. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $48.20.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, beating 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 net margin of 9.19% and a return on equity of 11.15%. The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

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

Analyst Ratings Changes

FE has been the topic of several analyst reports. Scotiabank boosted their target price on FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, October 24th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Morgan Stanley upped 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. Mizuho raised their price objective on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Finally, Jefferies Financial Group lifted their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, FirstEnergy has a consensus rating of “Moderate Buy” and an average price target 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.