iSAM Funds UK Ltd Buys New Shares in FirstEnergy Corporation $FE

iSAM Funds UK Ltd purchased a new position in FirstEnergy Corporation (NYSE:FE) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,700 shares of the utilities provider’s stock, valued at approximately $889,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nykredit A S acquired a new stake in shares of FirstEnergy in the 2nd quarter valued at $1,033,000. B. Metzler seel. Sohn & Co. AG grew its stake in shares of FirstEnergy by 72.5% during the second quarter. B. Metzler seel. Sohn & Co. AG now owns 27,073 shares of the utilities provider’s stock worth $1,287,000 after purchasing an additional 11,377 shares in the last quarter. Beacon Financial Advisory LLC increased its holdings in FirstEnergy by 8.6% in the second quarter. Beacon Financial Advisory LLC now owns 28,722 shares of the utilities provider’s stock valued at $1,365,000 after buying an additional 2,264 shares during the last quarter. Legacy Financial Advisors Inc. increased its holdings in FirstEnergy by 4.7% in the second quarter. Legacy Financial Advisors Inc. now owns 8,227 shares of the utilities provider’s stock valued at $391,000 after buying an additional 373 shares during the last quarter. Finally, Benjamin Edwards Inc. raised its stake in FirstEnergy by 9.0% in the second quarter. Benjamin Edwards Inc. now owns 56,187 shares of the utilities provider’s stock valued at $2,671,000 after buying an additional 4,647 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FE has been the subject of several analyst reports. Morgan Stanley lowered their price objective on FirstEnergy from $53.00 to $52.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and cut their target price for the stock from $56.00 to $53.00 in a research report on Friday, May 15th. UBS Group boosted their target price on FirstEnergy from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, June 11th. Barclays lowered their price target on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating for the company in a report on Friday, July 31st. Finally, Weiss Ratings lowered shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 17th. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $52.83.

FirstEnergy Stock Performance

NYSE FE opened at $46.30 on Thursday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. FirstEnergy Corporation has a 1 year low of $42.87 and a 1 year high of $52.34. The company has a market capitalization of $26.79 billion, a PE ratio of 24.63, a P/E/G ratio of 2.66 and a beta of 0.46. The company has a fifty day moving average of $47.80 and a two-hundred day moving average of $48.26.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS 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 analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the firm earned $0.52 earnings per share. As a group, analysts expect that FirstEnergy Corporation will post 2.74 earnings per share for the current year.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th were given a dividend of $0.465 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $1.86 annualized dividend and a yield of 4.0%. FirstEnergy’s payout ratio is 98.94%.

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.