Ieq Capital LLC Reduces Stake in FirstEnergy Corp.
May 2, 2023
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FIRSTENERGY ($NYSE:FE): At Defense World, it has been reported that Ieq Capital LLC has decreased its stock position in FirstEnergy Corp. This news comes as a surprise to many investors following the company, as FirstEnergy Corp. is one of the largest investor-owned electric utilities in the United States, providing energy to millions of customers across six states. The company is also a major player in the renewable energy sector, as it is actively investing in solar, wind and other sources of renewable energy. FirstEnergy Corp. is an industry leader in the fields of electricity generation, distribution and transmission. In addition to electricity production and distribution, the company is also involved in real estate, energy efficiency, and energy services.
Ieq Capital LLC’s recent decision to reduce their stake in FirstEnergy Corp. may be motivated by the stock’s volatility over the past few months. Despite this, the company has seen some positive momentum recently with its investments in renewable energy and its strong financial position. With the continued growth of renewable sources of energy and the increased demand for electricity and energy services, FirstEnergy Corp appears to remain a strong option for long-term investors.
Market Price
On Monday, FirstEnergy Corp. experienced a significant decline in its stock price, as it opened at $39.2 and closed at $39.0, down by 2.0% from its last closing price of 39.8. This decrease was a result of Ieq Capital LLC reducing its stake in the company. The reduction was disclosed in a filing with the Securities & Exchange Commission, making Ieq Capital LLC the latest in a series of investors to have shed their holdings in FirstEnergy Corp. Despite the decline in stock price, FirstEnergy Corp. remains well positioned for future success as it continues to dominate the energy sector. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Firstenergy Corp. More…
| Total Revenues | Net Income | Net Margin |
| 12.7k | 410 | 3.9% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Firstenergy Corp. More…
| Operations | Investing | Financing |
| 2.22k | -3.2k | 880 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Firstenergy Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 46.48k | 35.75k | 17.9 |
Key Ratios Snapshot
Some of the financial key ratios for Firstenergy Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.4% | 14.5% | 19.0% |
| FCF Margin | ROE | ROA |
| -5.1% | 14.7% | 3.2% |
Analysis
At GoodWhale, we have analyzed FIRSTENERGY CORP‘s financials and classified it as a ‘rhino’, signifying moderate revenue or earnings growth. The Star Chart reveals that FIRSTENERGY CORP is strong in profitability, medium in dividend, and weak in asset growth. Furthermore, FIRSTENERGY CORP has an intermediate health score of 4/10 with regard to its cashflows and debt, suggesting that it is likely to pay off debt and fund future operations. Due to its moderate growth and solid financial strength, FIRSTENERGY CORP may be an attractive investment for investors who want to make a stable, long-term return. Additionally, it is a good option for investors who prioritize dividend payments, as its dividend yield is relatively high. More…
Peers
FirstEnergy Corp is an electric utility company that serves customers in the Mid-Atlantic and Midwest United States. The company’s competitors include Fortis Inc, CenterPoint Energy Inc, and American Electric Power Co Inc.
– Fortis Inc ($TSX:FTS)
Fortis Inc. is a large holding company that owns several utilities companies across North America. It has a market cap of $24.59 billion as of 2022 and a return on equity of 8.51%. The company’s businesses include electricity generation, transmission and distribution, natural gas distribution, and power marketing. Fortis also owns a small but growing renewable energy business.
– CenterPoint Energy Inc ($NYSE:CNP)
CenterPoint Energy Inc is an energy delivery company. The Company operates in three segments: Electric Transmission & Distribution, Natural Gas Distribution and Pipeline & Field Services. It also provides other services to utilities and energy facilities.
– American Electric Power Co Inc ($NASDAQ:AEP)
American Electric Power Company, Inc. (AEP) is a public utility holding company that engages in the generation, transmission, and distribution of electricity in the United States. It is one of the largest electric utilities in the United States with more than 5 million customers. The company has a market capitalization of $44.13 billion as of 2022 and a return on equity of 10.57%. AEP’s operations are conducted through its subsidiaries, which include Appalachian Power Company, AEP Ohio, Indiana Michigan Power Company, Columbus Southern Power Company, and AEP Texas. The company generates electricity from coal, natural gas, nuclear, and renewable sources.
Summary
FirstEnergy Corp. (FE) is a diversified energy company that delivers electricity to customers in the mid-Atlantic and Midwest regions of the United States. Analysts see this move as a sign that investors are cautious about the company’s outlook, with some expecting a drop in earnings due to weaker demand for electricity in some states.
FE is also looking to expand into new markets, with plans to build a new transmission line from Ohio to Pennsylvania. With a healthy balance sheet, this could open up additional sources of revenue for FE in the long term.
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