Praxis Investment Management Inc. Cuts Position in FirstEnergy Corporation $FE

Key Points

• Praxis Investment Management Inc. has reduced its stake in FirstEnergy Corporation by 41.2%, now holding 8,440 shares valued at approximately $340,000.
• FirstEnergy reported a quarterly earnings per share (EPS) of $0.52, surpassing estimates of $0.50, while its fiscal year 2025 guidance is set at an EPS of 2.400-2.600.
• The company is set to pay a quarterly dividend of $0.445 on December 1st, representing an annualized dividend of $1.78 and a yield of 3.8% with a payout ratio of 78.76%.

Praxis Investment Management Inc. decreased its holdings in FirstEnergy Corporation (NYSE:FE - Free Report) by 41.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,440 shares of the utilities provider's stock after selling 5,920 shares during the quarter. Praxis Investment Management Inc.'s holdings in FirstEnergy were worth $340,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. Oliver Lagore Vanvalin Investment Group acquired a new position in FirstEnergy during the second quarter worth $26,000. Investment Research & Advisory Group Inc. acquired a new position in FirstEnergy during the second quarter worth $26,000. N.E.W. Advisory Services LLC acquired a new position in FirstEnergy during the first quarter worth $27,000. Capital Advisors Ltd. LLC raised its holdings in FirstEnergy by 186.4% during the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider's stock worth $27,000 after purchasing an additional 440 shares during the last quarter. Finally, TruNorth Capital Management LLC raised its holdings in FirstEnergy by 226.9% during the first 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. Hedge funds and other institutional investors own 89.41% of the company's stock.

FirstEnergy Stock Performance

NYSE FE opened at $47.00 on Friday. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $47.99. The stock has a market cap of $27.14 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The business has a fifty day moving average of $44.46 and a 200-day moving average of $42.36. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The business had revenue of $3.40 billion during 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 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. As a group, analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.445 dividend. 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 3.8%. FirstEnergy's payout ratio is currently 78.76%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on FE shares. Barclays raised FirstEnergy from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of FirstEnergy in a report on Wednesday, October 8th. Morgan Stanley reduced their price objective on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a report on Wednesday, October 8th. Finally, UBS Group set a $44.00 price target on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, FirstEnergy has an average rating of "Moderate Buy" and an average price target of $46.91.

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.

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