FirstEnergy Corporation $FE Shares Purchased by Harvest Portfolios Group Inc.

Harvest Portfolios Group Inc. boosted its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 15.3% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 208,941 shares of the utilities provider’s stock after purchasing an additional 27,655 shares during the period. Harvest Portfolios Group Inc.’s holdings in FirstEnergy were worth $9,574,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Argent Trust Co boosted its stake in shares of FirstEnergy by 3.3% during the third quarter. Argent Trust Co now owns 14,331 shares of the utilities provider’s stock worth $657,000 after buying an additional 455 shares during the period. TIAA Trust National Association purchased a new stake in FirstEnergy during the 3rd quarter valued at approximately $209,000. Integrated Advisors Network LLC purchased a new stake in FirstEnergy during the 3rd quarter valued at approximately $256,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in FirstEnergy by 1.6% during the 3rd quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,054,989 shares of the utilities provider’s stock worth $48,340,000 after acquiring an additional 16,700 shares during the period. Finally, Intech Investment Management LLC lifted its position in FirstEnergy by 16.7% during the 3rd quarter. Intech Investment Management LLC now owns 59,676 shares of the utilities provider’s stock worth $2,734,000 after acquiring an additional 8,555 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FE has been the topic of a number of recent research reports. Barclays dropped their target price on FirstEnergy from $51.00 to $50.00 and set an “overweight” rating on the stock in a report on Thursday, January 22nd. Weiss Ratings lowered shares of FirstEnergy from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, February 19th. Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, February 11th. Wolfe Research upgraded shares of FirstEnergy from a “peer perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Tuesday, January 27th. Finally, Mizuho set a $51.00 target price on shares of FirstEnergy in a report on Thursday, February 19th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $49.31.

FirstEnergy Trading Up 1.0%

Shares of FE stock opened at $51.15 on Friday. The business’s fifty day moving average price is $47.02 and its 200 day moving average price is $45.82. The firm has a market capitalization of $29.56 billion, a PE ratio of 29.06, a P/E/G ratio of 2.88 and a beta of 0.64. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.57 and a quick ratio of 0.46. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $51.34.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, February 17th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. FirstEnergy had a net margin of 6.76% and a return on equity of 10.50%. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period in the previous year, the firm earned $0.67 EPS. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. As a group, sell-side analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 7th will be given a dividend of $0.465 per share. The ex-dividend date is Thursday, May 7th. This is an increase from FirstEnergy’s previous quarterly dividend of $0.45. This represents a $1.86 annualized dividend and a yield of 3.6%. FirstEnergy’s dividend payout ratio (DPR) is currently 101.14%.

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.