Envestnet Portfolio Solutions Inc. Has $2.03 Million Stock Holdings in FirstEnergy Corporation $FE

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in FirstEnergy Corporation by 111.9% in Q2, bringing its total holdings to $2.03 million.
• FirstEnergy declared a quarterly dividend of $0.445 per share, with an annualized yield of 3.8%, to be paid on December 1st.
• The stock has a consensus rating of "Hold" among analysts, with a price target averaging $46.83.

Envestnet Portfolio Solutions Inc. lifted its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 111.9% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 50,488 shares of the utilities provider's stock after buying an additional 26,660 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in FirstEnergy were worth $2,033,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cambridge Investment Research Advisors Inc. boosted its position in shares of FirstEnergy by 14.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider's stock worth $2,883,000 after buying an additional 8,879 shares during the period. Johnson Investment Counsel Inc. boosted its position in shares of FirstEnergy by 3.8% in the first quarter. Johnson Investment Counsel Inc. now owns 9,983 shares of the utilities provider's stock worth $403,000 after buying an additional 366 shares during the period. Oppenheimer & Co. Inc. boosted its position in shares of FirstEnergy by 9.0% in the first quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider's stock worth $718,000 after buying an additional 1,464 shares during the period. Brighton Jones LLC acquired a new stake in shares of FirstEnergy in the fourth quarter worth $256,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of FirstEnergy by 0.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,664,698 shares of the utilities provider's stock valued at $107,707,000 after buying an additional 21,177 shares during the period. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Stock Down 1.9%

FE stock opened at $46.79 on Friday. 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 1 year low of $37.58 and a 1 year high of $47.99. The company has a fifty day simple moving average of $44.39 and a 200 day simple moving average of $42.31. The firm has a market cap of $27.02 billion, a PE ratio of 20.70, a PEG ratio of 3.23 and a beta of 0.52.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $3.45 billion. 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. Sell-side analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy's payout ratio is presently 78.76%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on FE shares. Scotiabank reissued an "outperform" rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Citigroup started coverage on shares of FirstEnergy in a research note on Tuesday, October 7th. They set a "buy" rating and a $53.00 target price for the company. KeyCorp lowered shares of FirstEnergy from an "overweight" rating to a "sector weight" rating in a research note on Tuesday. Mizuho lifted their target price 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. Finally, Morgan Stanley decreased their target price 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. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $46.83.

FirstEnergy Company 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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