First Bank & Trust Takes $1 Million Position in FirstEnergy Corporation $FE

Key Points

• First Bank & Trust has acquired a new position in FirstEnergy Corporation, purchasing 24,912 shares valued at approximately $1 million during the second quarter.
• FirstEnergy recently declared a quarterly dividend of $0.445 per share, representing an annual yield of 4.1% with a payout ratio of 78.76%.
• Analysts have mixed ratings on FirstEnergy, with seven giving it a Buy rating and eight a Hold rating, reflecting an average price target of $46.31.

First Bank & Trust purchased a new position in FirstEnergy Corporation (NYSE:FE - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 24,912 shares of the utilities provider's stock, valued at approximately $1,003,000.

Several other large investors have also recently made changes to their positions in FE. Dakota Wealth Management increased its holdings in FirstEnergy by 3.4% in the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider's stock valued at $309,000 after purchasing an additional 249 shares during the last quarter. Kovitz Investment Group Partners LLC grew its stake in shares of FirstEnergy by 2.4% in the first quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider's stock valued at $437,000 after buying an additional 255 shares in the last quarter. Equitable Trust Co. lifted its stake in FirstEnergy by 1.2% during the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider's stock worth $917,000 after acquiring an additional 266 shares in the last quarter. Focus Partners Wealth lifted its stake in FirstEnergy by 1.4% during the 4th quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock worth $835,000 after acquiring an additional 272 shares in the last quarter. Finally, Firethorn Wealth Partners LLC boosted its holdings in FirstEnergy by 5.5% during the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider's stock valued at $222,000 after acquiring an additional 287 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on FE shares. KeyCorp reiterated an "overweight" rating and set a $46.00 price target (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Barclays upgraded 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 report on Monday, August 25th. Mizuho increased their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a research report on Thursday, August 21st. Finally, 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. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $46.31.

FirstEnergy Stock Down 0.4%

Shares of FirstEnergy stock opened at $43.63 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.78. The company has a market capitalization of $25.19 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.69 and a beta of 0.50. The company has a 50 day moving average of $42.61 and a 200 day moving average of $41.36.

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, beating analysts' consensus estimates of $0.50 by $0.02. The business had revenue of $3.40 billion for 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. As a group, research analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 7th were issued 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 was Thursday, August 7th. FirstEnergy's payout ratio is 78.76%.

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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