Allspring Global Investments Holdings LLC Has $370.90 Million Stock Holdings in FirstEnergy Corporation $FE

Allspring Global Investments Holdings LLC lessened its position in shares of FirstEnergy Corporation (NYSE:FE) by 0.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,185,350 shares of the utilities provider’s stock after selling 3,148 shares during the quarter. FirstEnergy comprises about 0.6% of Allspring Global Investments Holdings LLC’s investment portfolio, making the stock its 22nd largest position. Allspring Global Investments Holdings LLC owned approximately 1.59% of FirstEnergy worth $370,904,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in FE. Boston Partners lifted its stake in shares of FirstEnergy by 14.9% during the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock valued at $767,952,000 after acquiring an additional 2,459,779 shares during the period. Federated Hermes Inc. lifted its stake in shares of FirstEnergy by 133,614.8% during the first quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider’s stock valued at $93,394,000 after acquiring an additional 2,308,864 shares during the period. Wealthquest Corp acquired a new position in shares of FirstEnergy during the first quarter valued at $53,169,000. OLD Republic International Corp acquired a new position in shares of FirstEnergy during the first quarter valued at $21,079,000. Finally, Raymond James Financial Inc. lifted its stake in shares of FirstEnergy by 59.4% during the first quarter. Raymond James Financial Inc. now owns 1,205,121 shares of the utilities provider’s stock valued at $48,711,000 after acquiring an additional 449,234 shares during the period. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.5%

Shares of FirstEnergy stock opened at $46.92 on Monday. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $47.37. The business has a 50-day moving average of $44.09 and a two-hundred day moving average of $42.14. The company has a market capitalization of $27.09 billion, a P/E ratio of 20.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.52. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same period in the prior year, the company earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently disclosed 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. 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 dividend payout ratio (DPR) is presently 78.76%.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of recent analyst reports. Mizuho upped their price objective on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Morgan Stanley dropped their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. UBS Group set a $44.00 price objective on FirstEnergy and gave the company a “neutral” rating in a report on Tuesday, June 24th. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. Finally, Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $43.00 to $49.00 in a report on Monday, August 25th. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, FirstEnergy currently has a consensus rating of “Moderate Buy” and an average price target of $46.77.

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.