FirstEnergy Corporation (NYSE:FE) Stock Position Raised by Arkadios Wealth Advisors

Key Points

• Arkadios Wealth Advisors significantly increased its shareholding in FirstEnergy Corporation by 167.3%, now owning a total of 13,573 shares valued at approximately $549,000.
• Numerous institutional investors have also raised their stakes in FirstEnergy, with Soroban Capital Partners increasing its position by 60.2% and Federated Hermes boosting theirs by an astounding 133,614.8%.
• FirstEnergy recently declared a quarterly dividend of $0.445 per share, representing an annualized rate of $1.78 and a yield of 4.1%.

Arkadios Wealth Advisors boosted its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 167.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,573 shares of the utilities provider's stock after buying an additional 8,495 shares during the period. Arkadios Wealth Advisors' holdings in FirstEnergy were worth $549,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FE. Soroban Capital Partners LP grew its stake in FirstEnergy by 60.2% in the fourth quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider's stock worth $331,795,000 after purchasing an additional 3,133,083 shares in the last quarter. Federated Hermes Inc. boosted its position in FirstEnergy by 133,614.8% during the 1st quarter. Federated Hermes Inc. now owns 2,310,592 shares of the utilities provider's stock valued at $93,394,000 after acquiring an additional 2,308,864 shares in the last quarter. Wealthquest Corp bought a new stake in FirstEnergy during the 1st quarter valued at $53,169,000. Zimmer Partners LP boosted its position in FirstEnergy by 33.4% during the 4th quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider's stock valued at $195,672,000 after acquiring an additional 1,232,040 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of FirstEnergy by 118.2% in the 4th quarter. Renaissance Technologies LLC now owns 1,640,808 shares of the utilities provider's stock worth $65,271,000 after purchasing an additional 888,800 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

FE has been the subject of a number of research analyst reports. Mizuho raised their target price on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday. Wells Fargo & Company lifted their price objective on FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th. Evercore ISI lifted their price objective on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. KeyCorp reiterated an "overweight" rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Finally, Guggenheim lifted their price objective on FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, FirstEnergy presently has a consensus rating of "Hold" and a consensus price target of $46.08.

Insiders Place Their Bets

In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of the business's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the transaction, the chief accounting officer owned 183 shares in the company, valued at $7,680.51. The trade was a 98.50% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jon Taylor K. sold 12,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total transaction of $516,360.00. Following the completion of the transaction, the chief financial officer owned 99,919 shares in the company, valued at $4,299,514.57. This represents a 10.72% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

FirstEnergy Price Performance

FirstEnergy stock traded down $0.33 during mid-day trading on Tuesday, reaching $43.51. The company had a trading volume of 4,382,296 shares, compared to its average volume of 4,060,127. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $44.97. 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 capitalization of $25.12 billion, a P/E ratio of 19.25, a P/E/G ratio of 2.69 and a beta of 0.48. The stock's 50-day simple moving average is $40.75 and its 200-day simple moving average is $40.70.

FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. The business had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.45 billion. During the same period last year, the company posted $0.56 EPS. On average, equities analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

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

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.