FirstEnergy Corporation $FE Shares Acquired by Comerica Bank

Key Points

• Comerica Bank increased its shares in FirstEnergy Corporation by 8.8%, owning 161,252 shares worth approximately $6.5 million after purchasing additional shares in the first quarter.
• Several other hedge funds have also adjusted their stakes in FirstEnergy, with 89.41% of the stock owned by institutional investors.
• FirstEnergy declared a quarterly dividend of $0.445 per share with a resulting annualized payout of $1.78, reflecting a dividend yield of 4.1%.

Comerica Bank grew its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 8.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 161,252 shares of the utilities provider's stock after acquiring an additional 12,997 shares during the period. Comerica Bank's holdings in FirstEnergy were worth $6,518,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. N.E.W. Advisory Services LLC purchased a new position in shares of FirstEnergy in the 1st quarter valued at $27,000. TruNorth Capital Management LLC raised 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 acquiring an additional 490 shares during the period. Bernard Wealth Management Corp. purchased a new position in shares of FirstEnergy in the 4th quarter valued at $33,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of FirstEnergy in the 1st quarter valued at $40,000. Finally, Tsfg LLC raised its stake in shares of FirstEnergy by 143.6% in the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 632 shares during the period. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Down 0.5%

FE stock traded down $0.24 during mid-day trading on Tuesday, hitting $43.39. 1,427,195 shares of the company were exchanged, compared to its average volume of 4,839,353. The company has a market capitalization of $25.05 billion, a PE ratio of 19.19, a price-to-earnings-growth ratio of 2.68 and a beta of 0.50. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $44.97. The firm has a fifty day simple moving average of $41.92 and a 200 day simple moving average of $41.20.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The company 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 period last year, the business earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

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

Analyst Ratings Changes

A number of brokerages have recently commented on FE. KeyCorp reissued an "overweight" rating and issued a $46.00 target price (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Barclays raised shares of 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 research note on Monday, August 25th. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Mizuho lifted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of FirstEnergy in a research note on Thursday, August 21st. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $46.31.

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.