17,076 Shares in FirstEnergy Corporation $FE Acquired by Petrus Trust Company LTA

Key Points

• Petrus Trust Company LTA has acquired a new position in FirstEnergy Corporation, purchasing 17,076 shares valued at approximately $690,000 during the first quarter.
• Several institutional investors have increased their stakes in FirstEnergy, leading to a notable 89.41% ownership of the company's stock by institutional entities.
• FirstEnergy recently announced a quarterly dividend of $0.445, translating to an annualized yield of 4.1%, with a payout ratio of approximately 78.76%.

Petrus Trust Company LTA bought a new position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,076 shares of the utilities provider's stock, valued at approximately $690,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. N.E.W. Advisory Services LLC bought a new stake in shares of FirstEnergy in the 1st quarter valued at $27,000. TruNorth Capital Management LLC increased its holdings in shares of FirstEnergy by 226.9% in the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after acquiring an additional 490 shares in the last quarter. Bernard Wealth Management Corp. acquired a new stake in shares of FirstEnergy during the fourth quarter worth about $33,000. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of FirstEnergy during the first quarter worth about $40,000. Finally, Tsfg LLC lifted its holdings in shares of FirstEnergy by 143.6% during the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider's stock valued at $43,000 after purchasing an additional 632 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on FE. Mizuho raised their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Morgan Stanley restated an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Barclays raised shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. KeyCorp reaffirmed an "overweight" rating and set a $46.00 price target (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Finally, UBS Group set a $44.00 price objective on shares of FirstEnergy and gave the stock a "neutral" rating in a research report on Tuesday, June 24th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat.com, FirstEnergy has a consensus rating of "Hold" and an average price target of $46.31.

FirstEnergy Stock Up 0.9%

Shares of FirstEnergy stock traded up $0.39 on Thursday, reaching $43.63. 3,323,092 shares of the company were exchanged, compared to its average volume of 4,782,713. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.78. 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 company has a 50-day moving average of $42.38 and a 200 day moving average of $41.31. The company has a market capitalization of $25.19 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 2.66 and a beta of 0.50.

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, topping analysts' consensus estimates of $0.50 by $0.02. The business had revenue of $3.40 billion for 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 company earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

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

FirstEnergy 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.