FirstEnergy Corp. (NYSE:FE) Shares Acquired by Securian Asset Management Inc.

Posted by Defense World Staff on Apr 24th, 2023

Securian Asset Management Inc. increased its position in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) by 0.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 44,583 shares of the utilities provider’s stock after buying an additional 357 shares during the quarter. Securian Asset Management Inc.’s holdings in FirstEnergy were worth $1,870,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CI Investments Inc. boosted its position in shares of FirstEnergy by 940.0% during the third quarter. CI Investments Inc. now owns 728 shares of the utilities provider’s stock worth $27,000 after buying an additional 658 shares during the period. MUFG Americas Holdings Corp purchased a new position in FirstEnergy during the 3rd quarter valued at about $32,000. Mach 1 Financial Group LLC acquired a new position in FirstEnergy in the 3rd quarter valued at about $34,000. Neo Ivy Capital Management purchased a new stake in FirstEnergy during the second quarter worth about $36,000. Finally, Concord Wealth Partners acquired a new stake in shares of FirstEnergy during the fourth quarter worth about $39,000. 81.80% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Trading Up 0.2 %

NYSE FE opened at $40.61 on Monday. The firm’s fifty day moving average price is $40.02 and its 200 day moving average price is $39.97. FirstEnergy Corp. has a 12 month low of $35.32 and a 12 month high of $47.50. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.61 and a quick ratio of 0.50. The company has a market capitalization of $23.24 billion, a price-to-earnings ratio of 57.20, a price-to-earnings-growth ratio of 2.51 and a beta of 0.44.

FirstEnergy (NYSE:FE – Get Rating) last posted its earnings results on Monday, February 13th. The utilities provider reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $2.45 billion. FirstEnergy had a return on equity of 13.16% and a net margin of 3.26%. The firm’s revenue for the quarter was up 18.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. On average, sell-side analysts expect that FirstEnergy Corp. will post 2.51 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 5th will be given a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $1.56 annualized dividend and a yield of 3.84%. FirstEnergy’s dividend payout ratio (DPR) is 219.72%.

Wall Street Analysts Forecast Growth

FE has been the topic of several recent research reports. StockNews.com assumed coverage on shares of FirstEnergy in a research note on Thursday, March 16th. They set a “hold” rating on the stock. Mizuho decreased their target price on FirstEnergy from $42.00 to $40.00 and set a “neutral” rating for the company in a report on Tuesday, March 28th. Bank of America upped their price target on FirstEnergy from $38.00 to $39.00 and gave the stock an “underperform” rating in a report on Friday, April 14th. JPMorgan Chase & Co. decreased their price objective on FirstEnergy from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Friday, March 10th. Finally, Guggenheim upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $46.00 in a research note on Monday, January 23rd. One analyst has rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $43.89.

FirstEnergy Profile

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FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate or Other.

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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