FirstEnergy Corporation $FE Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in FirstEnergy Corporation by 1.0%, now owning approximately 601,017 shares valued at about $24.29 million.
• FirstEnergy reported $0.52 earnings per share for the last quarter, exceeding analysts' expectations of $0.50, and had a revenue of $3.40 billion.
• The company recently declared a quarterly dividend of $0.445 per share, representing an annual yield of 4.1% with a payout ratio of 78.76%.

Alliancebernstein L.P. cut its stake in FirstEnergy Corporation (NYSE:FE - Free Report) by 1.0% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 601,017 shares of the utilities provider's stock after selling 5,956 shares during the period. Alliancebernstein L.P. owned approximately 0.10% of FirstEnergy worth $24,293,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. N.E.W. Advisory Services LLC acquired a new stake in shares of FirstEnergy in the first quarter worth approximately $27,000. TruNorth Capital Management LLC raised its holdings in FirstEnergy by 226.9% in 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. purchased a new position in FirstEnergy in the fourth quarter valued at approximately $33,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in FirstEnergy in the first quarter valued at approximately $40,000. Finally, Tsfg LLC raised its holdings in FirstEnergy by 143.6% in the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after buying an additional 632 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.1%

Shares of NYSE:FE traded up $0.06 during midday trading on Monday, reaching $43.86. The company had a trading volume of 266,197 shares, compared to its average volume of 4,744,853. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. The stock's fifty day moving average price is $42.54 and its 200-day moving average price is $41.32. The stock has a market capitalization of $25.32 billion, a P/E ratio of 19.38, a PEG ratio of 2.69 and a beta of 0.50. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.78.

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

FirstEnergy Announces Dividend

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

Wall Street Analyst Weigh In

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