FirstEnergy Corporation $FE Shares Acquired by Corient Private Wealth LP

Corient Private Wealth LP increased its holdings in FirstEnergy Corporation (NYSE:FE) by 79.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 152,100 shares of the utilities provider’s stock after buying an additional 67,266 shares during the period. Corient Private Wealth LP’s holdings in FirstEnergy were worth $7,231,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in FE. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of FirstEnergy by 11,305.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock valued at $81,699,000 after purchasing an additional 1,957,673 shares in the last quarter. Intech Investment Management LLC grew its position in shares of FirstEnergy by 42.8% in the fourth quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock valued at $3,817,000 after purchasing an additional 25,571 shares during the last quarter. Assenagon Asset Management S.A. increased its stake in shares of FirstEnergy by 6,066.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 495,299 shares of the utilities provider’s stock worth $23,547,000 after purchasing an additional 487,267 shares in the last quarter. BW Gestao de Investimentos Ltda. purchased a new position in shares of FirstEnergy during the 4th quarter worth approximately $15,172,000. Finally, Bryn Mawr Trust Advisors LLC acquired a new position in shares of FirstEnergy during the 2nd quarter worth approximately $9,878,000. 89.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on FE. UBS Group upped their target price on FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Wolfe Research downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Barclays cut their price target on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Weiss Ratings downgraded FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Finally, Morgan Stanley decreased their price objective on FirstEnergy from $53.00 to $52.00 and set an “overweight” rating on the stock in a research note on Friday, August 21st. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, FirstEnergy currently has an average rating of “Moderate Buy” and an average price target of $52.83.

FirstEnergy Stock Performance

NYSE:FE opened at $45.84 on Monday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. The firm has a market cap of $26.52 billion, a PE ratio of 24.38, a P/E/G ratio of 2.19 and a beta of 0.46. The firm has a 50 day simple moving average of $47.88 and a 200-day simple moving average of $48.30. FirstEnergy Corporation has a 1-year low of $42.87 and a 1-year high of $52.34.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The firm had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.51 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. During the same period in the previous year, the company earned $0.52 EPS. On average, equities analysts expect that FirstEnergy Corporation will post 2.74 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be issued a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date is Friday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is 98.94%.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.