Global Retirement Partners LLC Invests $1.36 Million in FirstEnergy Corporation $FE

Key Points

• Global Retirement Partners initiated a FirstEnergy position worth approximately $1.36 million by purchasing 28,639 shares in the second quarter. Institutional investors collectively own 89.41% of the utility’s stock.
• FirstEnergy reported quarterly revenue of $3.68 billion, exceeding the $3.51 billion consensus estimate, while EPS of $0.50 matched expectations. Analysts expect full-year EPS of approximately $2.74.
• The company declared a quarterly dividend of $0.465 per share, equivalent to an annualized $1.86 and a 3.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $52.83, versus a recent share price of $47.43.

Global Retirement Partners LLC bought a new position in FirstEnergy Corporation (NYSE:FE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 28,639 shares of the utilities provider's stock, valued at approximately $1,361,000.

Several other large investors have also made changes to their positions in FE. Parallel Advisors LLC lifted its position in FirstEnergy by 4.1% during the fourth quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider's stock valued at $241,000 after buying an additional 213 shares in the last quarter. Simplicity Wealth LLC grew its stake in FirstEnergy by 3.4% during the 1st quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider's stock valued at $346,000 after purchasing an additional 223 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its position in shares of FirstEnergy by 5.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider's stock worth $209,000 after buying an additional 223 shares in the last quarter. Pinnacle Bancorp Inc. increased its position in shares of FirstEnergy by 44.4% in the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider's stock worth $38,000 after purchasing an additional 232 shares during the last quarter. Finally, Allworth Financial LP increased its holdings in FirstEnergy by 3.7% in the fourth quarter. Allworth Financial LP now owns 6,778 shares of the utilities provider's stock valued at $303,000 after buying an additional 241 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

Shares of NYSE FE opened at $47.43 on Tuesday. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. The firm has a market capitalization of $27.44 billion, a PE ratio of 25.23, a P/E/G ratio of 2.27 and a beta of 0.46. FirstEnergy Corporation has a 1-year low of $42.72 and a 1-year high of $52.34. The business's fifty day moving average price is $47.88 and its two-hundred day moving average price is $48.32.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.51 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share. On average, research analysts expect that FirstEnergy Corporation will post 2.74 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 1st. Investors of record on Friday, August 7th will be issued a $0.465 dividend. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy's dividend payout ratio is 98.94%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Wells Fargo & Company reissued an "overweight" rating and set a $55.00 price target on shares of FirstEnergy in a research report on Tuesday, April 21st. New Street Research set a $52.00 price objective on shares of FirstEnergy in a report on Tuesday, April 21st. Weiss Ratings lowered shares of FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, June 17th. Barclays dropped their target price on shares of FirstEnergy from $55.00 to $54.00 and set an "overweight" rating on the stock in a report on Friday, July 31st. Finally, UBS Group raised their price target on shares of FirstEnergy from $50.00 to $51.00 and gave the stock a "neutral" rating in a research report on Thursday, June 11th. Seven investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, FirstEnergy currently has a consensus rating of "Moderate Buy" and a consensus target price of $52.83.

About FirstEnergy

FirstEnergy Corp. NYSE: FE is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company's primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy's service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy's core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.

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