Janney Montgomery Scott LLC grew its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 20.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 127,853 shares of the utilities provider's stock after buying an additional 21,867 shares during the quarter. Janney Montgomery Scott LLC's holdings in FirstEnergy were worth $5,147,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also bought and sold shares of FE. Oliver Lagore Vanvalin Investment Group purchased a new stake in FirstEnergy in the 2nd quarter worth approximately $26,000. Investment Research & Advisory Group Inc. purchased a new stake in FirstEnergy in the 2nd quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new stake in FirstEnergy in the 1st quarter worth approximately $27,000. TruNorth Capital Management LLC lifted its holdings in 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 buying an additional 490 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in FirstEnergy in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 89.41% of the company's stock.
Wall Street Analysts Forecast Growth
FE has been the subject of a number of research analyst reports. Weiss Ratings restated a "buy (b)" rating on shares of FirstEnergy in a research note on Saturday, September 27th. Scotiabank raised their target price on FirstEnergy from $46.00 to $49.00 and gave the company a "sector outperform" rating in a research note on Monday. Morgan Stanley lowered their target price on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday, September 25th. KeyCorp restated an "overweight" rating and issued a $46.00 target price (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Finally, Mizuho raised their target price on FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of "Hold" and a consensus target price of $46.25.
Read Our Latest Analysis on FE
FirstEnergy Stock Performance
Shares of FE opened at $46.36 on Tuesday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $46.39. The firm has a market capitalization of $26.77 billion, a P/E ratio of 20.51, a PEG ratio of 2.82 and a beta of 0.52. The business has a fifty day moving average of $43.75 and a 200 day moving average of $41.92.
FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter in the previous year, the company posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, sell-side analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current year.
FirstEnergy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a yield of 3.8%. FirstEnergy's payout ratio is 78.76%.
About FirstEnergy
(
Free Report)
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.
Recommended Stories
Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corporation (NYSE:FE - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider FirstEnergy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FirstEnergy wasn't on the list.
While FirstEnergy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Market downturns give many investors pause, and for good reason. Wondering how to offset this risk? Enter your email address to learn more about using beta to protect your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
