Magellan Asset Management Ltd Acquires 142,026 Shares of FirstEnergy Corporation $FE

Magellan Asset Management Ltd grew its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 30.0% in the 1st quarter, HoldingsChannel reports. The firm owned 615,485 shares of the utilities provider’s stock after acquiring an additional 142,026 shares during the quarter. Magellan Asset Management Ltd’s holdings in FirstEnergy were worth $31,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in FE. Eurizon Capital SGR S.p.A. bought a new stake in shares of FirstEnergy during the 4th quarter worth $123,018,000. BROOKFIELD Corp ON purchased a new stake in FirstEnergy during the fourth quarter worth about $110,332,000. Boston Partners raised its position in FirstEnergy by 13.5% in the third quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock worth $841,161,000 after acquiring an additional 2,185,400 shares during the period. Victory Capital Management Inc. raised its position in FirstEnergy by 56.0% in the fourth quarter. Victory Capital Management Inc. now owns 5,506,251 shares of the utilities provider’s stock worth $246,515,000 after acquiring an additional 1,977,504 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in FirstEnergy by 11,305.6% in the fourth 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. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on FE. Jefferies Financial Group raised their target price on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. TD Cowen upgraded FirstEnergy from a “hold” rating to a “buy” rating and cut their price target for the stock from $56.00 to $53.00 in a research note on Friday, May 15th. Weiss Ratings lowered FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Wells Fargo & Company reissued an “overweight” rating and issued a $55.00 price objective on shares of FirstEnergy in a report on Tuesday, April 21st. Finally, New Street Research set a $52.00 price objective on FirstEnergy in a research note on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $52.92.

FirstEnergy Trading Down 0.4%

Shares of FirstEnergy stock opened at $48.34 on Wednesday. FirstEnergy Corporation has a 12-month low of $41.03 and a 12-month high of $52.34. The company has a market cap of $27.96 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.32 and a beta of 0.47. The company has a current ratio of 0.52, a quick ratio of 0.42 and a debt-to-equity ratio of 1.87. The company’s 50-day moving average price is $46.89 and its 200-day moving average price is $48.03.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, April 28th. The utilities provider reported $0.72 EPS for the quarter, meeting the consensus estimate of $0.72. The company had revenue of $4.20 billion during the quarter, compared to analysts’ expectations of $3.80 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.66%. FirstEnergy’s revenue for the quarter was up 11.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.67 earnings per share. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. On average, equities analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

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.