Phraction Management LLC Purchases Shares of 56,315 FirstEnergy Corporation $FE

Key Points

• Phraction Management LLC has purchased 56,315 shares of FirstEnergy Corporation for approximately $2.27 million, making it the fund's 29th largest holding.
• FirstEnergy reports a quarterly EPS of $0.52, slightly exceeding analysts' expectations, and has set FY 2025 guidance at 2.400-2.600 EPS.
• The company has announced a quarterly dividend of $0.445 per share, representing a dividend yield of 3.9%, with a payout ratio of 78.76%.

Phraction Management LLC acquired a new position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 56,315 shares of the utilities provider's stock, valued at approximately $2,267,000. FirstEnergy accounts for about 0.7% of Phraction Management LLC's holdings, making the stock its 29th largest holding.

A number of other large investors have also recently made changes to their positions in the stock. Investment Research & Advisory Group Inc. purchased a new position in FirstEnergy in the 2nd quarter worth $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of FirstEnergy in the second quarter valued at about $26,000. N.E.W. Advisory Services LLC purchased a new position in shares of FirstEnergy in the first quarter worth about $27,000. TruNorth Capital Management LLC grew its position in 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 period. Finally, MJT & Associates Financial Advisory Group Inc. purchased a new stake in FirstEnergy in the 1st quarter worth approximately $40,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

NYSE:FE opened at $45.48 on Friday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The stock has a market capitalization of $26.26 billion, a PE ratio of 20.13, a P/E/G ratio of 2.82 and a beta of 0.52. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $46.27. The company has a fifty day moving average of $43.57 and a two-hundred day moving average of $41.80.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, topping analysts' consensus estimates 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 analysts' expectations of $3.45 billion. During the same quarter 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. As a group, research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.9%. FirstEnergy's dividend payout ratio is presently 78.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FE shares. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $43.00 to $49.00 in a research report on Monday, August 25th. KeyCorp reiterated an "overweight" rating and issued a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Morgan Stanley lowered their target price on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. Finally, Mizuho raised their target price on FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $46.00.

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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