Leo Wealth LLC Buys Shares of 35,103 FirstEnergy Corporation $FE

Key Points

• Leo Wealth LLC has acquired a new position in FirstEnergy Corporation, purchasing 35,103 shares valued at approximately $1.4 million.
• The company recently reported earnings of $0.52 per share for the quarter, exceeding analysts' expectations, and set a FY 2025 guidance of EPS between 2.400-2.600.
• FirstEnergy has announced a quarterly dividend of $0.445, with investors of record receiving this payment on December 1st, which represents a yield of 3.8%.

Leo Wealth LLC purchased a new position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 35,103 shares of the utilities provider's stock, valued at approximately $1,413,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of FE. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of FirstEnergy in the second quarter valued at approximately $26,000. Investment Research & Advisory Group Inc. acquired a new stake in shares of FirstEnergy in the second quarter valued at about $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of FirstEnergy in the first quarter valued at about $27,000. TruNorth Capital Management LLC increased its position in shares of 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 last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of FirstEnergy during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Stock Performance

NYSE FE opened at $46.67 on Friday. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 2.87 and a beta of 0.52. The firm's 50 day simple moving average is $44.02 and its 200 day simple moving average is $42.03. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $47.35.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter last year, the business posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a $0.445 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 annualized dividend and a yield of 3.8%. FirstEnergy's dividend payout ratio (DPR) is 78.76%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in 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 raised FirstEnergy from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Morgan Stanley decreased their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Thursday, September 25th. Mizuho upped their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Finally, Citigroup began coverage on FirstEnergy in a research report on Tuesday. They issued a "buy" rating and a $53.00 target price on the stock. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $46.77.

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.

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