339,309 Shares in FirstEnergy Corporation $FE Purchased by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC acquired a new stake in FirstEnergy Corporation (NYSE:FE) during the third quarter, Holdings Channel reports. The firm acquired 339,309 shares of the utilities provider’s stock, valued at approximately $15,547,000.

Other institutional investors have also added to or reduced their stakes in the company. SageView Advisory Group LLC boosted its position in FirstEnergy by 2.3% during the second quarter. SageView Advisory Group LLC now owns 10,253 shares of the utilities provider’s stock worth $425,000 after purchasing an additional 233 shares during the period. Independent Advisor Alliance raised its position in shares of FirstEnergy by 1.0% in the third quarter. Independent Advisor Alliance now owns 23,225 shares of the utilities provider’s stock valued at $1,064,000 after purchasing an additional 236 shares during the period. Kohmann Bosshard Financial Services LLC raised its position in shares of FirstEnergy by 0.5% in the second quarter. Kohmann Bosshard Financial Services LLC now owns 48,454 shares of the utilities provider’s stock valued at $1,951,000 after purchasing an additional 241 shares during the period. Manchester Capital Management LLC lifted its stake in shares of FirstEnergy by 15.2% during the 2nd quarter. Manchester Capital Management LLC now owns 1,834 shares of the utilities provider’s stock valued at $74,000 after buying an additional 242 shares in the last quarter. Finally, Quadcap Wealth Management LLC lifted its stake in shares of FirstEnergy by 0.8% during the 2nd quarter. Quadcap Wealth Management LLC now owns 31,010 shares of the utilities provider’s stock valued at $1,248,000 after buying an additional 246 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a research note on Wednesday, February 11th. UBS Group dropped their target price on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Wells Fargo & Company cut their price target on FirstEnergy from $54.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, January 20th. Scotiabank reiterated an “outperform” rating on shares of FirstEnergy in a research report on Thursday, February 19th. Finally, Weiss Ratings lowered FirstEnergy from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday, February 19th. Eight equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, FirstEnergy has an average rating of “Moderate Buy” and an average price target of $49.71.

Insiders Place Their Bets

In related news, CFO Jon Taylor K. sold 26,800 shares of the company’s stock in a transaction on Tuesday, March 10th. The shares were sold at an average price of $50.94, for a total value of $1,365,192.00. Following the completion of the transaction, the chief financial officer directly owned 119,552 shares in the company, valued at approximately $6,089,978.88. The trade was a 18.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Jason Lisowski sold 3,000 shares of the company’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $50.84, for a total value of $152,520.00. Following the completion of the transaction, the chief accounting officer owned 7,176 shares of the company’s stock, valued at $364,827.84. The trade was a 29.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 31,173 shares of company stock worth $1,587,515 in the last three months. Insiders own 0.17% of the company’s stock.

FirstEnergy Stock Performance

NYSE:FE opened at $50.85 on Friday. The stock has a market cap of $29.39 billion, a P/E ratio of 28.89, a PEG ratio of 2.66 and a beta of 0.61. The company has a quick ratio of 0.46, a current ratio of 0.57 and a debt-to-equity ratio of 1.83. The business’s 50-day moving average price is $48.09 and its two-hundred day moving average price is $46.27. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $51.44.

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

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 1st. Shareholders of record on Thursday, May 7th will be paid a $0.465 dividend. The ex-dividend date of this dividend is Thursday, May 7th. This represents a $1.86 dividend on an annualized basis and a yield of 3.7%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.45. FirstEnergy’s dividend payout ratio is presently 101.14%.

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.