Beacon Financial Advisory LLC Acquires 26,971 Shares of FirstEnergy Corporation $FE

Key Points

• Beacon Financial Advisory LLC increased its stake in FirstEnergy Corporation by 425.5%, acquiring 26,971 additional shares in the second quarter, bringing its total holdings to 33,310 shares, valued at approximately $1.34 million.
• FirstEnergy announced a quarterly dividend of $0.445 per share scheduled for December 1, representing an annualized dividend of $1.78 and a yield of 3.9%.
• The company's most recent earnings report revealed a Q2 EPS of $0.52, exceeding analyst expectations of $0.50, but revenue of $3.40 billion fell short of projections.

Beacon Financial Advisory LLC boosted its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 425.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 33,310 shares of the utilities provider's stock after purchasing an additional 26,971 shares during the quarter. Beacon Financial Advisory LLC's holdings in FirstEnergy were worth $1,341,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in FE. Boston Partners boosted its stake in FirstEnergy by 14.9% during the 1st quarter. Boston Partners now owns 18,962,859 shares of the utilities provider's stock valued at $767,952,000 after purchasing an additional 2,459,779 shares during the period. Federated Hermes Inc. boosted its stake 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 purchasing an additional 2,308,864 shares during the period. Wealthquest Corp bought a new stake in FirstEnergy during the 1st quarter valued at approximately $53,169,000. OLD Republic International Corp bought a new stake in FirstEnergy during the 1st quarter valued at approximately $21,079,000. Finally, Raymond James Financial Inc. boosted its stake in FirstEnergy by 59.4% during the 1st quarter. Raymond James Financial Inc. now owns 1,205,121 shares of the utilities provider's stock valued at $48,711,000 after purchasing an additional 449,234 shares during the period. Institutional investors own 89.41% of the company's stock.

FirstEnergy Trading Up 1.0%

Shares of FE opened at $45.92 on Friday. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $46.27. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. The stock has a 50 day simple moving average of $43.65 and a 200-day simple moving average of $41.86. The stock has a market cap of $26.52 billion, a PE ratio of 20.32, a PEG ratio of 2.82 and a beta of 0.52.

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

FirstEnergy Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.9%. FirstEnergy's dividend payout ratio is presently 78.76%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley decreased their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Barclays upgraded FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. Mizuho raised their price objective on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of FirstEnergy in a research report on Saturday, September 27th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $46.00.

About FirstEnergy

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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