FirstEnergy Corporation $FE Shares Purchased by Magellan Asset Management Ltd

Magellan Asset Management Ltd grew its position in FirstEnergy Corporation (NYSE:FE) by 9.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 451,719 shares of the utilities provider’s stock after buying an additional 38,011 shares during the period. Magellan Asset Management Ltd owned 0.08% of FirstEnergy worth $20,698,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in FE. Vanguard Group Inc. boosted its stake in FirstEnergy by 0.5% during the third quarter. Vanguard Group Inc. now owns 67,348,184 shares of the utilities provider’s stock worth $3,085,894,000 after buying an additional 360,098 shares during the period. Geode Capital Management LLC raised its stake in shares of FirstEnergy by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,091,114 shares of the utilities provider’s stock valued at $524,764,000 after acquiring an additional 146,742 shares during the period. Federated Hermes Inc. lifted its holdings in shares of FirstEnergy by 25.2% in the 3rd quarter. Federated Hermes Inc. now owns 8,627,746 shares of the utilities provider’s stock worth $395,323,000 after acquiring an additional 1,738,779 shares during the last quarter. Legal & General Group Plc boosted its position in shares of FirstEnergy by 8.6% during the 2nd quarter. Legal & General Group Plc now owns 4,715,098 shares of the utilities provider’s stock worth $189,830,000 after purchasing an additional 374,053 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in FirstEnergy by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,465,592 shares of the utilities provider’s stock valued at $139,525,000 after purchasing an additional 34,839 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.4%

NYSE:FE opened at $50.62 on Wednesday. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $50.83. The stock has a market cap of $29.25 billion, a P/E ratio of 28.76, a P/E/G ratio of 2.87 and a beta of 0.64. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.46 and a current ratio of 0.57. The stock has a 50-day simple moving average of $46.64 and a 200-day simple moving average of $45.69.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, February 17th. The utilities provider reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. The firm had revenue of $3.80 billion during the quarter, compared to analysts’ expectations of $3.20 billion. FirstEnergy had a return on equity of 10.50% and a net margin of 6.76%.During the same quarter in the previous year, the business earned $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 7th will be issued a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 3.7%. The ex-dividend date is Thursday, May 7th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.45. FirstEnergy’s dividend payout ratio (DPR) is currently 101.14%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wells Fargo & Company dropped their target price on FirstEnergy from $54.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday, January 20th. Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, February 11th. Barclays cut their target price on shares of FirstEnergy from $51.00 to $50.00 and set an “overweight” rating on the stock in a research note on Thursday, January 22nd. Scotiabank reiterated an “outperform” rating on shares of FirstEnergy in a report on Thursday, February 19th. Finally, UBS Group dropped their price target on shares of FirstEnergy from $49.00 to $46.00 and set a “neutral” rating for the company in a research note on Wednesday, December 17th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.31.

FirstEnergy Profile

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.