111 Capital Invests $517,000 in FirstEnergy Corporation $FE

Key Points

• 111 Capital has invested approximately $517,000 in FirstEnergy Corporation, acquiring 12,839 shares in the second quarter.
• Multiple institutional investors, including Cambridge Investment Research Advisors and Oppenheimer & Co., have increased their stakes in FirstEnergy, indicating strong interest in the stock.
• FirstEnergy announced a quarterly dividend of $0.445, with a dividend yield of 3.9%, scheduled for payment on December 1st.

111 Capital purchased a new position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,839 shares of the utilities provider's stock, valued at approximately $517,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its holdings in shares of FirstEnergy by 14.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider's stock worth $2,883,000 after buying an additional 8,879 shares during the last quarter. Johnson Investment Counsel Inc. increased its holdings in shares of FirstEnergy by 3.8% during the 1st quarter. Johnson Investment Counsel Inc. now owns 9,983 shares of the utilities provider's stock worth $403,000 after buying an additional 366 shares during the last quarter. Oppenheimer & Co. Inc. increased its holdings in shares of FirstEnergy by 9.0% during the 1st quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider's stock worth $718,000 after buying an additional 1,464 shares during the last quarter. Brighton Jones LLC acquired a new stake in shares of FirstEnergy during the 4th quarter worth approximately $256,000. Finally, Vontobel Holding Ltd. increased its holdings in shares of FirstEnergy by 29.7% during the 1st quarter. Vontobel Holding Ltd. now owns 7,684 shares of the utilities provider's stock worth $311,000 after buying an additional 1,760 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho boosted their target price on FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. KeyCorp reaffirmed an "overweight" rating and issued a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. UBS Group set a $44.00 price objective on FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Barclays upgraded FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their target price for the company from $43.00 to $49.00 in a report on Monday, August 25th. Finally, Morgan Stanley cut their price target on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $46.00.

FirstEnergy Price Performance

Shares of NYSE FE opened at $45.92 on Monday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. The company has a market cap of $26.52 billion, a price-to-earnings ratio of 20.32, a price-to-earnings-growth ratio of 2.82 and a beta of 0.52. The stock's 50-day moving average is $43.65 and its two-hundred day moving average is $41.87. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $46.27.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. The business had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same period in the previous year, the company posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date is Friday, November 7th. FirstEnergy's dividend payout ratio (DPR) is presently 78.76%.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.

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