Harbour Capital Advisors LLC Purchases New Holdings in FirstEnergy Corporation $FE

Key Points

• Harbour Capital Advisors LLC acquired 6,915 shares of FirstEnergy Corporation valued at approximately $275,000, marking a new stake in the second quarter.
• Institutional investors own 89.41% of FirstEnergy's stock, with several firms like UMB Bank and Assenagon Asset Management significantly increasing their positions.
• The company's recent earnings report revealed quarterly revenue of $3.40 billion, with an EPS of $0.52, exceeding analyst expectations by $0.02.

Harbour Capital Advisors LLC bought a new position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 6,915 shares of the utilities provider's stock, valued at approximately $275,000.

Other institutional investors have also recently made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of FirstEnergy during the second quarter worth about $26,000. N.E.W. Advisory Services LLC bought a new stake in shares of FirstEnergy during the 1st quarter worth approximately $27,000. TruNorth Capital Management LLC increased its holdings in FirstEnergy by 226.9% during the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after purchasing an additional 490 shares during the period. Bernard Wealth Management Corp. purchased a new position in FirstEnergy during the 4th quarter worth $33,000. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new position in FirstEnergy during the 1st quarter worth $40,000. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Up 0.7%

FirstEnergy stock traded up $0.29 during trading on Tuesday, reaching $43.62. 977,026 shares of the company's stock were exchanged, compared to its average volume of 4,700,547. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.58. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The firm has a market cap of $25.18 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 2.66 and a beta of 0.50. The company's 50-day moving average is $42.92 and its two-hundred day moving average is $41.51.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (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 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 prior year, the business posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The company 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 was Thursday, August 7th. This represents a $1.78 annualized dividend and a yield of 4.1%. FirstEnergy's dividend payout ratio is 78.76%.

Analyst Ratings Changes

FE has been the topic of several research reports. Barclays upgraded FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Morgan Stanley reiterated an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Mizuho lifted 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. KeyCorp reiterated an "overweight" rating and issued a $46.00 price target (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. 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. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $46.00.

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.