MBB Public Markets I LLC Takes Position in FirstEnergy Corporation $FE

Key Points

• MBB Public Markets I LLC invested approximately $306,000 in FirstEnergy Corporation by acquiring 7,560 shares in the first quarter, according to a recent SEC filing.
• Institutional ownership in FirstEnergy stands at 89.41%, with key players like Vanguard, Boston Partners, and Soroban Capital all increasing their stakes recently.
• Analysts have varied price targets for FirstEnergy, with Barclays raising its target to $49.00 and an average target set at $46.31, indicating a mixed sentiment among market experts.

MBB Public Markets I LLC acquired a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 7,560 shares of the utilities provider's stock, valued at approximately $306,000.

Other hedge funds have also modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new position in shares of FirstEnergy in the first quarter valued at approximately $27,000. TruNorth Capital Management LLC increased its position in shares of FirstEnergy by 226.9% during the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock valued at $29,000 after acquiring an additional 490 shares during the last quarter. Bernard Wealth Management Corp. purchased a new stake in FirstEnergy in the fourth quarter valued at approximately $33,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of FirstEnergy in the first quarter valued at $40,000. Finally, Tsfg LLC raised its holdings in shares of FirstEnergy by 143.6% in the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after buying an additional 632 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 0.5%

FE traded up $0.21 on Friday, reaching $43.80. The company's stock had a trading volume of 2,766,595 shares, compared to its average volume of 3,282,178. The company has a market capitalization of $25.29 billion, a price-to-earnings ratio of 19.38, a P/E/G ratio of 2.68 and a beta of 0.50. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $44.78. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. The stock has a 50 day moving average of $42.54 and a two-hundred day moving average of $41.31.

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

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.445 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.1%. FirstEnergy's dividend payout ratio (DPR) is presently 78.76%.

Analyst Upgrades and Downgrades

FE has been the subject of a number of research reports. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company 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 increased their price target on FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Finally, KeyCorp reaffirmed an "overweight" rating and issued a $46.00 target price (down previously from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Seven 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 stock presently has a consensus rating of "Hold" and an average price target of $46.31.

About FirstEnergy

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.