Strive Asset Management LLC Buys Shares of 79,075 FirstEnergy Corporation $FE

Strive Asset Management LLC purchased a new position in shares of FirstEnergy Corporation (NYSE:FE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 79,075 shares of the utilities provider’s stock, valued at approximately $3,623,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. grew its position 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 boosted its stake in shares of FirstEnergy by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 13,091,114 shares of the utilities provider’s stock worth $524,764,000 after acquiring an additional 146,742 shares in the last quarter. Federated Hermes Inc. grew 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 period. Legal & General Group Plc increased its stake in FirstEnergy by 8.6% in the 2nd quarter. Legal & General Group Plc now owns 4,715,098 shares of the utilities provider’s stock valued at $189,830,000 after purchasing an additional 374,053 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake 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 in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE opened at $50.99 on Tuesday. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $51.39. The company’s 50 day simple moving average is $47.15 and its 200 day simple moving average is $45.90. The company has a market capitalization of $29.47 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 2.91 and a beta of 0.61. The company has a debt-to-equity ratio of 1.83, a quick ratio of 0.46 and a current ratio of 0.57.

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

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be given a dividend of $0.465 per share. This represents a $1.86 annualized dividend and a yield of 3.6%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.45. The ex-dividend date is Thursday, May 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 101.14%.

Wall Street Analysts Forecast Growth

FE has been the topic of a number of research analyst reports. Scotiabank reiterated an “outperform” rating on shares of FirstEnergy in a research report on Thursday, February 19th. Barclays lowered their price objective 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. Mizuho set a $51.00 target price on shares of FirstEnergy in a research report on Thursday, February 19th. Wells Fargo & Company lowered their price target on shares of FirstEnergy from $54.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 20th. Finally, UBS Group cut their price objective on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Eight research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $49.31.

FirstEnergy Company 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.