AlphaQuest LLC Reduces Position in FirstEnergy Corporation $FE

Key Points

• AlphaQuest LLC has significantly reduced its holdings in FirstEnergy Corporation by 72.8%, now owning 24,114 shares, valued at approximately $975,000.
• FirstEnergy recently reported a quarterly earnings of $0.52 per share, exceeding analysts' expectations, and set its fiscal year 2025 guidance at 2.400-2.600 EPS.
• The company declared a quarterly dividend of $0.445, with a dividend yield of 4.1%, to be paid on September 1st, impacting investor returns.

AlphaQuest LLC lessened its position in FirstEnergy Corporation (NYSE:FE - Free Report) by 72.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 24,114 shares of the utilities provider's stock after selling 64,398 shares during the quarter. AlphaQuest LLC's holdings in FirstEnergy were worth $975,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in FE. N.E.W. Advisory Services LLC bought a new stake in shares of FirstEnergy in the 1st quarter worth about $27,000. TruNorth Capital Management LLC lifted its holdings 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 worth $29,000 after acquiring an additional 490 shares during the last quarter. Bernard Wealth Management Corp. bought a new stake in shares of FirstEnergy in the 4th quarter worth about $33,000. MJT & Associates Financial Advisory Group Inc. bought a new stake in shares of FirstEnergy in the 1st quarter worth about $40,000. Finally, Tsfg LLC lifted its holdings in shares of FirstEnergy by 143.6% in the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock worth $43,000 after acquiring an additional 632 shares during the last quarter. Institutional investors own 89.41% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on FE shares. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. 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. KeyCorp reiterated an "overweight" rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Mizuho lifted their price objective 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 reiterated an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Seven analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $46.31.

FirstEnergy Stock Down 0.5%

NYSE FE traded down $0.22 during trading on Thursday, reaching $43.55. 3,066,429 shares of the company's stock traded hands, compared to its average volume of 4,858,197. 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 firm has a market cap of $25.14 billion, a price-to-earnings ratio of 19.27, a price-to-earnings-growth ratio of 2.68 and a beta of 0.48. The company's 50 day simple moving average is $41.71 and its two-hundred day simple moving average is $41.11. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS 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 the consensus estimate of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same quarter last year, the firm posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, sell-side analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, September 1st. Shareholders of record on Thursday, August 7th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend is Thursday, August 7th. FirstEnergy's payout ratio is currently 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.