Lantz Financial LLC Acquires New Position in FirstEnergy Corporation $FE

Key Points

• Lantz Financial LLC purchased 5,905 shares of FirstEnergy Corporation for approximately $238,000 in the 2nd quarter, indicating growing institutional interest in the company.
• Wall Street analysts have varying opinions on FirstEnergy, with six ratings as "Buy" and a price target ranging from $43 to $49, reflecting confidence in the company's potential growth.
• FirstEnergy recently announced a quarterly dividend of $0.445 per share, yielding about 4.1%, as the company's dividend payout ratio stands at 78.76%.

Lantz Financial LLC purchased a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,905 shares of the utilities provider's stock, valued at approximately $238,000.

A number of other hedge funds have also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group purchased a new position in FirstEnergy in the second quarter worth $26,000. N.E.W. Advisory Services LLC purchased a new stake in FirstEnergy in the first quarter worth about $27,000. TruNorth Capital Management LLC grew its holdings in FirstEnergy by 226.9% in the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after purchasing an additional 490 shares during the period. Bernard Wealth Management Corp. purchased a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $33,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of FirstEnergy during the first quarter valued at approximately $40,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

FE stock traded up $0.28 during midday trading on Tuesday, hitting $43.61. 977,026 shares of the stock traded hands, compared to its average volume of 4,700,547. The firm has a market cap of $25.18 billion, a P/E ratio of 19.28, a PEG ratio of 2.66 and a beta of 0.50. 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 stock's fifty day simple moving average is $42.92 and its 200-day simple moving average is $41.51. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $44.58.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same quarter last year, the business earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 7th were paid a dividend of $0.445 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.78 dividend on an annualized basis and a yield of 4.1%. FirstEnergy's payout ratio is 78.76%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $43.00 to $49.00 in a research report on Monday, August 25th. KeyCorp restated an "overweight" rating and set a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Morgan Stanley reiterated an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Finally, Mizuho lifted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $46.00.

FirstEnergy 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.