Posted by admin on Aug 21st, 2022 
Northwestern Mutual Wealth Management Co. grew its position in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) by 4.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 12,213 shares of the utilities provider’s stock after acquiring an additional 534 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in FirstEnergy were worth $560,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vaughan David Investments LLC IL grew its stake in shares of FirstEnergy by 0.9% in the 1st quarter. Vaughan David Investments LLC IL now owns 894,852 shares of the utilities provider’s stock worth $41,038,000 after buying an additional 7,930 shares during the last quarter. Jackson Hole Capital Partners LLC grew its stake in shares of FirstEnergy by 25.6% in the 1st quarter. Jackson Hole Capital Partners LLC now owns 48,140 shares of the utilities provider’s stock worth $2,208,000 after buying an additional 9,802 shares during the last quarter. Cullen Frost Bankers Inc. grew its stake in shares of FirstEnergy by 1.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 25,503 shares of the utilities provider’s stock worth $1,170,000 after buying an additional 474 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of FirstEnergy by 5.6% in the 1st quarter. Principal Financial Group Inc. now owns 702,577 shares of the utilities provider’s stock worth $32,220,000 after buying an additional 37,000 shares during the last quarter. Finally, Swiss National Bank grew its stake in shares of FirstEnergy by 14.0% in the 1st quarter. Swiss National Bank now owns 2,358,005 shares of the utilities provider’s stock worth $108,138,000 after buying an additional 289,900 shares during the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.
Several analysts recently weighed in on FE shares. Mizuho cut their price target on FirstEnergy from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 7th. Bank of America cut FirstEnergy from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $52.00 to $44.00 in a research report on Monday, May 16th. KeyCorp lowered their price objective on FirstEnergy from $51.00 to $47.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 19th. Barclays lowered their price objective on FirstEnergy from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Finally, Credit Suisse Group started coverage on FirstEnergy in a research report on Monday, April 25th. They issued an “outperform” rating and a $51.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.25.
NYSE FE opened at $41.27 on Friday. The business’s fifty day moving average price is $38.48 and its 200-day moving average price is $41.75. The stock has a market capitalization of $23.58 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 2.70 and a beta of 0.44. The company has a debt-to-equity ratio of 1.84, a current ratio of 0.75 and a quick ratio of 0.66. FirstEnergy Corp. has a 1-year low of $35.32 and a 1-year high of $48.85.
FirstEnergy (NYSE:FE – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The utilities provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. FirstEnergy had a return on equity of 15.13% and a net margin of 11.78%. During the same quarter in the previous year, the business posted $0.59 EPS. On average, equities analysts predict that FirstEnergy Corp. will post 2.4 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Investors of record on Friday, August 5th will be issued a $0.39 dividend. The ex-dividend date is Thursday, August 4th. This represents a $1.56 dividend on an annualized basis and a yield of 3.78%. FirstEnergy’s dividend payout ratio is currently 63.41%.
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FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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