Jupiter Topco LLC Makes New $7.31 Million Investment in FirstEnergy Corporation $FE

Jupiter Topco LLC bought a new stake in FirstEnergy Corporation (NYSE:FE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 153,806 shares of the utilities provider’s stock, valued at approximately $7,311,000.

Several other hedge funds have also made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its stake in FirstEnergy by 11,305.6% in 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 buying an additional 1,957,673 shares during the period. Intech Investment Management LLC lifted its stake in shares of FirstEnergy by 42.8% in the 4th quarter. Intech Investment Management LLC now owns 85,247 shares of the utilities provider’s stock worth $3,817,000 after acquiring an additional 25,571 shares during the period. Assenagon Asset Management S.A. boosted its holdings in shares of FirstEnergy by 6,066.6% in the second quarter. Assenagon Asset Management S.A. now owns 495,299 shares of the utilities provider’s stock valued at $23,547,000 after acquiring an additional 487,267 shares in the last quarter. BW Gestao de Investimentos Ltda. purchased a new stake in shares of FirstEnergy in the fourth quarter valued at about $15,172,000. Finally, Bryn Mawr Trust Advisors LLC acquired a new position in shares of FirstEnergy during the second quarter worth about $9,878,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Down 0.1%

Shares of NYSE FE opened at $45.84 on Monday. The stock has a market capitalization of $26.52 billion, a price-to-earnings ratio of 24.38, a price-to-earnings-growth ratio of 2.19 and a beta of 0.46. FirstEnergy Corporation has a 52 week low of $42.87 and a 52 week high of $52.34. The firm has a 50-day moving average price of $47.88 and a 200 day moving average price of $48.30. 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 earnings results 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 company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the business posted $0.52 earnings per share. Equities research analysts anticipate that FirstEnergy Corporation will post 2.74 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be paid a $0.465 dividend. This represents a $1.86 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 98.94%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. UBS Group increased their price target on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a report on Thursday, June 11th. Morgan Stanley dropped their target price on FirstEnergy from $53.00 to $52.00 and set an “overweight” rating on the stock in a research report on Friday, August 21st. Wolfe Research downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and cut their target price for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Finally, Weiss Ratings downgraded FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.83.

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.