Glenmede Trust Co. NA Has $3.01 Million Position in FirstEnergy Corporation $FE

Glenmede Trust Co. NA raised its holdings in FirstEnergy Corporation (NYSE:FE) by 93.2% in the first quarter, Holdings Channel.com reports. The fund owned 59,490 shares of the utilities provider’s stock after acquiring an additional 28,702 shares during the quarter. Glenmede Trust Co. NA’s holdings in FirstEnergy were worth $3,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Axiom Investment Management LLC acquired a new position in shares of FirstEnergy during the 1st quarter valued at about $26,000. Western Wealth Management LLC bought a new position in shares of FirstEnergy in the first quarter valued at approximately $37,000. Bank of America Corp DE lifted its stake in shares of FirstEnergy by 11.9% in the first quarter. Bank of America Corp DE now owns 5,396,317 shares of the utilities provider’s stock worth $273,377,000 after buying an additional 573,731 shares during the last quarter. Janus Henderson Group PLC grew its stake in FirstEnergy by 61.9% in the 1st quarter. Janus Henderson Group PLC now owns 55,978 shares of the utilities provider’s stock valued at $2,837,000 after buying an additional 21,403 shares during the last quarter. Finally, Strategic Investment Advisors MI bought a new stake in FirstEnergy during the first quarter valued at about $1,309,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

FE has been the topic of a number of recent analyst reports. UBS Group lifted their price objective on FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a report on Wednesday, July 22nd. Jefferies Financial Group raised their target price on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price target on shares of FirstEnergy in a report on Tuesday, April 21st. Finally, TD Cowen raised shares of FirstEnergy from a “hold” rating to a “buy” rating and lowered their target price for the company from $56.00 to $53.00 in a research note on Friday, May 15th. Seven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

FirstEnergy Trading Down 0.3%

Shares of FE stock opened at $48.30 on Wednesday. FirstEnergy Corporation has a 12-month low of $42.72 and a 12-month high of $52.34. The company has a market capitalization of $27.95 billion, a P/E ratio of 25.69, a P/E/G ratio of 2.32 and a beta of 0.46. The firm has a 50-day moving average price of $47.66 and a 200 day moving average price of $48.32. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.88.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the prior year, the firm earned $0.52 earnings per share. Research analysts forecast that FirstEnergy Corporation will post 2.73 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.465 dividend. The ex-dividend date is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 3.9%. FirstEnergy’s dividend payout ratio (DPR) is 98.94%.

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.