Rhumbline Advisers Increases Position in FirstEnergy Corporation $FE

Rhumbline Advisers grew its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 1.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,031,271 shares of the utilities provider’s stock after purchasing an additional 18,906 shares during the period. Rhumbline Advisers owned approximately 0.18% of FirstEnergy worth $41,519,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Boston Partners raised its stake in 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 buying an additional 2,459,779 shares during the last quarter. Federated Hermes Inc. increased its holdings 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 in the last quarter. Wealthquest Corp purchased a new position in shares of FirstEnergy in the 1st quarter worth about $53,169,000. Vanguard Group Inc. raised its position in shares of FirstEnergy by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 66,988,086 shares of the utilities provider’s stock worth $2,696,940,000 after purchasing an additional 837,872 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in FirstEnergy by 82.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,326,830 shares of the utilities provider’s stock worth $53,418,000 after purchasing an additional 598,732 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

NYSE FE opened at $46.90 on Wednesday. The stock has a market capitalization of $27.09 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 2.80 and a beta of 0.53. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $48.20. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51. The business’s fifty day moving average price is $46.02 and its 200-day moving average price is $43.31.

FirstEnergy (NYSE:FE) last posted 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 return on equity of 11.15% and a net margin of 9.19%.The company had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the business earned $0.85 earnings per share. FirstEnergy’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 analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, November 7th. FirstEnergy’s dividend payout ratio is 77.73%.

Wall Street Analysts Forecast Growth

FE has been the subject of several recent analyst reports. 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. Citigroup assumed coverage on shares of FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price target for the company. Wells Fargo & Company raised FirstEnergy to a “strong-buy” rating in a research report on Tuesday, October 28th. Barclays raised 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 report on Monday, August 25th. Finally, KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.