Global Retirement Partners LLC Buys Shares of 28,639 FirstEnergy Corporation $FE

Global Retirement Partners LLC bought a new position in shares of FirstEnergy Corporation (NYSE:FE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 28,639 shares of the utilities provider’s stock, valued at approximately $1,361,000.

Several other institutional investors have also modified their holdings of FE. Eurizon Capital SGR S.p.A. bought a new position in FirstEnergy during the fourth quarter valued at about $123,018,000. BROOKFIELD Corp ON bought a new stake in FirstEnergy in the fourth quarter worth about $110,332,000. Boston Partners lifted its holdings in FirstEnergy by 13.5% in the 3rd quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock valued at $841,161,000 after acquiring an additional 2,185,400 shares during the last quarter. Victory Capital Management Inc. lifted its stake in FirstEnergy by 56.0% during the fourth quarter. Victory Capital Management Inc. now owns 5,506,251 shares of the utilities provider’s stock valued at $246,515,000 after purchasing an additional 1,977,504 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. lifted its position in shares of FirstEnergy by 11,305.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,974,989 shares of the utilities provider’s stock valued at $81,699,000 after acquiring an additional 1,957,673 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

FE stock opened at $47.43 on Tuesday. The firm has a 50 day simple moving average of $47.88 and a 200 day simple moving average of $48.32. FirstEnergy Corporation has a 52 week low of $42.72 and a 52 week high of $52.34. The stock has a market cap of $27.44 billion, a P/E ratio of 25.23, a P/E/G ratio of 2.27 and a beta of 0.46. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.51 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. During the same quarter in the prior year, the business earned $0.52 EPS. Research analysts anticipate that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on FE. Weiss Ratings cut FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Barclays reduced their price objective on shares of FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a research note on Friday, July 31st. Wells Fargo & Company reiterated an “overweight” rating and issued a $55.00 target price on shares of FirstEnergy in a report on Tuesday, April 21st. TD Cowen upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and cut their price target for the company from $56.00 to $53.00 in a report on Friday, May 15th. Finally, Jefferies Financial Group upped their price target on shares of FirstEnergy from $50.00 to $52.00 and gave the company a “hold” rating in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, FirstEnergy currently has a consensus rating of “Moderate Buy” and a consensus target price of $52.83.

About FirstEnergy

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.