Jump Financial LLC Trims Stock Position in FirstEnergy Corporation $FE

Key Points

• Jump Financial LLC reduced its holdings in FirstEnergy Corporation (FE) by 60.2% in Q1, leaving them with 7,894 shares valued at approximately $319,000.
• Analysts have set a consensus price target of $46.31 for FirstEnergy, with ratings varying from Buy to Hold from multiple firms.
• FirstEnergy recently declared a quarterly dividend of $0.445 per share, resulting in an annual yield of 4.1% and a payout ratio of 78.76%.

Jump Financial LLC lowered its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 60.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,894 shares of the utilities provider's stock after selling 11,930 shares during the quarter. Jump Financial LLC's holdings in FirstEnergy were worth $319,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. N.E.W. Advisory Services LLC purchased a new position in FirstEnergy during the first quarter valued at $27,000. TruNorth Capital Management LLC lifted its position in FirstEnergy by 226.9% during the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock valued at $29,000 after buying an additional 490 shares during the period. Bernard Wealth Management Corp. bought a new position in shares of FirstEnergy during the fourth quarter valued at $33,000. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of FirstEnergy during the first quarter valued at $40,000. Finally, Tsfg LLC increased its holdings in shares of FirstEnergy by 143.6% during the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after acquiring an additional 632 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Performance

NYSE:FE traded down $0.04 during mid-day trading on Friday, reaching $43.44. The company's stock had a trading volume of 2,504,082 shares, compared to its average volume of 3,187,797. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.78. The firm's fifty day moving average price is $42.19 and its two-hundred day moving average price is $41.27. 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 market cap of $25.08 billion, a P/E ratio of 19.22, a PEG ratio of 2.67 and a beta of 0.50.

FirstEnergy (NYSE:FE - Get Free Report) last issued 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. 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 analyst estimates of $3.45 billion. During the same quarter in the previous year, the firm earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

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

Analysts Set New Price Targets

FE has been the subject of several analyst reports. KeyCorp restated an "overweight" rating and set a $46.00 price target (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Morgan Stanley restated an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Barclays upgraded FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $43.00 to $49.00 in a report on Monday, August 25th. Mizuho raised their price target on FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, UBS Group set a $44.00 price target on FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. Based on data from MarketBeat, FirstEnergy presently has a consensus rating of "Hold" and a consensus price target of $46.31.

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.