Magellan Asset Management Ltd Has $31.18 Million Position in FirstEnergy Corporation $FE

Magellan Asset Management Ltd lifted its holdings in FirstEnergy Corporation (NYSE:FE) by 30.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 615,485 shares of the utilities provider’s stock after acquiring an additional 142,026 shares during the period. Magellan Asset Management Ltd owned approximately 0.11% of FirstEnergy worth $31,180,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FE. Vanguard Group Inc. boosted its holdings in shares of FirstEnergy by 1.1% during the 4th quarter. Vanguard Group Inc. now owns 68,109,341 shares of the utilities provider’s stock worth $3,049,255,000 after buying an additional 761,157 shares in the last quarter. Boston Partners grew its position in shares of FirstEnergy by 13.5% during the 3rd quarter. Boston Partners now owns 18,344,403 shares of the utilities provider’s stock worth $841,161,000 after buying an additional 2,185,400 shares during the period. Geode Capital Management LLC increased its stake in shares of FirstEnergy by 1.0% in the 4th quarter. Geode Capital Management LLC now owns 13,463,298 shares of the utilities provider’s stock valued at $600,351,000 after acquiring an additional 126,834 shares in the last quarter. Invesco Ltd. increased its stake in shares of FirstEnergy by 0.3% in the 4th quarter. Invesco Ltd. now owns 11,722,471 shares of the utilities provider’s stock valued at $524,815,000 after acquiring an additional 34,014 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in shares of FirstEnergy by 7.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,971,706 shares of the utilities provider’s stock valued at $508,158,000 after acquiring an additional 694,449 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.4%

Shares of NYSE:FE opened at $48.34 on Wednesday. The business’s 50 day moving average is $46.89 and its 200 day moving average is $48.03. FirstEnergy Corporation has a 12-month low of $41.03 and a 12-month high of $52.34. The stock 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 quick ratio of 0.42, a current ratio of 0.52 and a debt-to-equity ratio of 1.87.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, April 28th. The utilities provider reported $0.72 EPS for the quarter, meeting analysts’ consensus estimates of $0.72. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.The business had revenue of $4.20 billion during the quarter, compared to analyst estimates of $3.80 billion. During the same period in the prior year, the firm posted $0.67 EPS. FirstEnergy’s quarterly revenue was up 11.6% compared to the same quarter last year. FirstEnergy has set its FY 2026 guidance at 2.620-2.820 EPS. On average, sell-side analysts forecast that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. New Street Research set a $52.00 target price on shares of FirstEnergy in a research note on Tuesday, April 21st. TD Cowen raised shares of FirstEnergy from a “hold” rating to a “buy” rating and decreased their price target for the company from $56.00 to $53.00 in a research note on Friday, May 15th. Weiss Ratings lowered shares of 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 set a $55.00 price objective on shares of FirstEnergy in a research report on Tuesday, April 21st. Finally, Morgan Stanley restated an “overweight” rating and issued a $52.00 target price on shares of FirstEnergy in a research note on Wednesday, June 24th. Seven equities research 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 a consensus target price of $52.92.

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.