Jones Financial Companies Lllp Has $9.56 Million Stock Position in FirstEnergy Corporation $FE

Key Points

• Jones Financial Companies increased its FirstEnergy stake by 89.1% in the second quarter, purchasing 92,954 additional shares and bringing its holdings to 197,241 shares valued at approximately $9.56 million.
• Analysts maintain a generally positive outlook, with seven Buy ratings and six Holds, resulting in a “Moderate Buy” consensus and an average price target of $52.83.
• FirstEnergy reported quarterly EPS of $0.50, in line with estimates, while revenue of $3.68 billion exceeded expectations. The company also declared a quarterly dividend of $0.465 per share, implying a 4.0% annual yield.

Jones Financial Companies Lllp grew its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 89.1% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 197,241 shares of the utilities provider's stock after buying an additional 92,954 shares during the quarter. Jones Financial Companies Lllp's holdings in FirstEnergy were worth $9,556,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. Brighton Jones LLC bought a new position in FirstEnergy during the 4th quarter worth $256,000. Integrated Wealth Concepts LLC acquired a new stake in shares of FirstEnergy in the first quarter valued at about $289,000. Empowered Funds LLC raised its position in shares of FirstEnergy by 7.0% during the first quarter. Empowered Funds LLC now owns 11,213 shares of the utilities provider's stock worth $453,000 after acquiring an additional 732 shares during the last quarter. Woodline Partners LP raised its position in shares of FirstEnergy by 40.7% during the first quarter. Woodline Partners LP now owns 43,334 shares of the utilities provider's stock worth $1,752,000 after acquiring an additional 12,531 shares during the last quarter. Finally, Focus Partners Wealth raised its position in shares of FirstEnergy by 6.8% during the first quarter. Focus Partners Wealth now owns 21,178 shares of the utilities provider's stock worth $856,000 after acquiring an additional 1,340 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on FE shares. UBS Group upped their target price on FirstEnergy from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, June 11th. Morgan Stanley dropped their price target on shares of FirstEnergy from $53.00 to $52.00 and set an "overweight" rating on the stock in a research report on Friday. 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 decreased their price objective on shares of FirstEnergy from $55.00 to $54.00 and set an "overweight" rating for the company in a research report on Friday, July 31st. Finally, Wolfe Research lowered shares of FirstEnergy from a "strong-buy" rating to a "hold" rating in a report on Monday, May 4th. Seven equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, FirstEnergy has an average rating of "Moderate Buy" and a consensus price target of $52.83.

FirstEnergy Trading Up 1.4%

NYSE:FE opened at $46.58 on Tuesday. The stock has a market capitalization of $26.96 billion, a price-to-earnings ratio of 24.78, a PEG ratio of 2.20 and a beta of 0.46. The firm has a fifty day simple moving average of $47.90 and a two-hundred day simple moving average of $48.31. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. FirstEnergy Corporation has a 12 month low of $42.87 and a 12 month high of $52.34.

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

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be given a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, August 7th. FirstEnergy's dividend payout ratio is presently 98.94%.

FirstEnergy Profile

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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