McElhenny Sheffield Capital Management LLC Buys Shares of 69,000 FirstEnergy Corporation $FE

Key Points

• McElhenny Sheffield Capital Management LLC acquired 69,000 shares of FirstEnergy Corporation, valued at approximately $2.78 million, during the 2nd quarter.
• FirstEnergy recently announced a quarterly dividend of $0.445 per share, which will be paid on December 1st, resulting in an annual yield of 3.8%.
• Analyst ratings for FirstEnergy show an outlook with eight "Buy" ratings and eight "Hold" ratings, along with a consensus price target of $46.77.

McElhenny Sheffield Capital Management LLC bought a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 69,000 shares of the utilities provider's stock, valued at approximately $2,778,000.

A number of other large investors have also made changes to their positions in the company. US Bancorp DE increased its position in shares of FirstEnergy by 11.3% in the 2nd quarter. US Bancorp DE now owns 48,795 shares of the utilities provider's stock valued at $1,965,000 after buying an additional 4,952 shares in the last quarter. Valeo Financial Advisors LLC increased its position in shares of FirstEnergy by 4.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 6,444 shares of the utilities provider's stock valued at $259,000 after buying an additional 277 shares in the last quarter. Knights of Columbus Asset Advisors LLC increased its position in shares of FirstEnergy by 3.5% in the 2nd quarter. Knights of Columbus Asset Advisors LLC now owns 103,880 shares of the utilities provider's stock valued at $4,182,000 after buying an additional 3,474 shares in the last quarter. DAVENPORT & Co LLC increased its position in shares of FirstEnergy by 120.7% in the 2nd quarter. DAVENPORT & Co LLC now owns 79,354 shares of the utilities provider's stock valued at $3,195,000 after buying an additional 43,403 shares in the last quarter. Finally, Keudell Morrison Wealth Management bought a new stake in shares of FirstEnergy in the 2nd quarter valued at $280,000. Institutional investors own 89.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on FE shares. Morgan Stanley lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research report on Thursday, September 25th. Mizuho increased their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, August 1st. Citigroup began coverage on shares of FirstEnergy in a research note on Tuesday. They issued a "buy" rating and a $53.00 target price for the company. Weiss Ratings reiterated a "buy (b)" rating on shares of FirstEnergy in a research note on Wednesday. Finally, UBS Group set a $44.00 price target on shares of FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Eight investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $46.77.

FirstEnergy Stock Up 0.6%

NYSE FE opened at $46.67 on Thursday. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a 50 day moving average of $43.94 and a 200-day moving average of $41.98. The company has a market cap of $26.95 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 2.85 and a beta of 0.52.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly 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 company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same period in the previous year, the business earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company 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. This represents a $1.78 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy's dividend payout ratio (DPR) is 78.76%.

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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