CHURCHILL MANAGEMENT Corp Takes Position in FirstEnergy Corporation $FE

Key Points

• CHURCHILL MANAGEMENT Corp acquired 125,801 shares of FirstEnergy Corporation valued at approximately $5.07 million during the second quarter, indicating growing institutional interest in the stock.
• FirstEnergy Corporation reported $0.52 earnings per share for the last quarter, surpassing analyst estimates of $0.50, while revenues fell slightly short at $3.40 billion.
• The company announced a quarterly dividend of $0.445 per share, equating to an annualized yield of 3.9%, to be paid on December 1st to shareholders on record as of November 7th.

CHURCHILL MANAGEMENT Corp purchased a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 125,801 shares of the utilities provider's stock, valued at approximately $5,065,000.

Several other institutional investors and hedge funds have also modified their holdings of FE. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of FirstEnergy during the 2nd quarter valued at $26,000. Investment Research & Advisory Group Inc. purchased a new position in shares of FirstEnergy during the 2nd quarter valued at $26,000. N.E.W. Advisory Services LLC purchased a new position in shares of FirstEnergy during the 1st quarter valued at $27,000. TruNorth Capital Management LLC lifted its stake in shares of FirstEnergy by 226.9% in the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 490 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of FirstEnergy in the 1st quarter valued at $40,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 0.3%

FirstEnergy stock opened at $45.98 on Thursday. The firm has a market cap of $26.55 billion, a price-to-earnings ratio of 20.34, a P/E/G ratio of 2.82 and a beta of 0.52. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $46.13. The firm has a fifty day moving average price of $43.49 and a two-hundred day moving average price of $41.76.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results 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. The firm had revenue of $3.40 billion during 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 in the previous year, the business earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The business 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 dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. FirstEnergy's payout ratio is presently 78.76%.

Analyst Upgrades and Downgrades

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

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