UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Increases Stake in FirstEnergy Corporation $FE

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,719,645 shares of the utilities provider’s stock after buying an additional 59,097 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.47% of FirstEnergy worth $129,292,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State of Wyoming acquired a new stake in FirstEnergy in the 2nd quarter valued at about $25,000. Axiom Investment Management LLC acquired a new stake in shares of FirstEnergy in the first quarter valued at approximately $26,000. DV Equities LLC purchased a new position in FirstEnergy during the fourth quarter worth approximately $33,000. Summit Securities Group LLC lifted its position in FirstEnergy by 148.0% during the fourth quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock worth $35,000 after buying an additional 2,376 shares in the last quarter. Finally, Western Wealth Management LLC purchased a new stake in FirstEnergy in the 1st quarter valued at $37,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

Shares of FE stock opened at $46.10 on Wednesday. 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 Corporation has a 52 week low of $42.87 and a 52 week high of $52.34. The stock has a market capitalization of $26.68 billion, a PE ratio of 24.52, a P/E/G ratio of 2.19 and a beta of 0.46. The firm has a 50 day moving average of $47.83 and a two-hundred day moving average of $48.28.

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

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th were paid a $0.465 dividend. This represents a $1.86 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 98.94%.

Analyst Ratings Changes

FE has been the topic of several analyst reports. Barclays reduced their price target on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday, July 31st. UBS Group boosted their target price on shares of FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Morgan Stanley dropped their price target on shares of FirstEnergy from $53.00 to $52.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Weiss Ratings downgraded shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Finally, TD Cowen upgraded FirstEnergy from a “hold” rating to a “buy” rating and decreased their price objective for the company from $56.00 to $53.00 in a report on Friday, May 15th. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.