Presper Financial Architects LLC Buys New Stake in FirstEnergy Corporation $FE

Key Points

• Presper Financial Architects LLC acquired 9,193 shares of FirstEnergy Corporation, valued at around $370,000, marking their entry into the company's stock during Q2.
• FirstEnergy reported a quarterly EPS of $0.52, beating estimates, but the revenue fell short of expectations at $3.40 billion.
• The company declared a quarterly dividend of $0.445, with an annualized dividend yield of 3.9%, to be paid on December 1st.

Presper Financial Architects LLC bought a new stake in FirstEnergy Corporation (NYSE:FE - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 9,193 shares of the utilities provider's stock, valued at approximately $370,000.

A number of other hedge funds have also recently modified their holdings of FE. Brighton Jones LLC purchased a new position in shares of FirstEnergy in the 4th quarter valued at $256,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in FirstEnergy during the 4th quarter worth $4,253,000. Versant Capital Management Inc boosted its stake in FirstEnergy by 179.8% during the 1st quarter. Versant Capital Management Inc now owns 1,192 shares of the utilities provider's stock worth $48,000 after purchasing an additional 766 shares during the period. GAMMA Investing LLC boosted its stake in FirstEnergy by 3,864.1% during the 1st quarter. GAMMA Investing LLC now owns 431,969 shares of the utilities provider's stock worth $17,460,000 after purchasing an additional 421,072 shares during the period. Finally, Fifth Third Wealth Advisors LLC boosted its stake in FirstEnergy by 15.8% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 5,835 shares of the utilities provider's stock worth $236,000 after purchasing an additional 796 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Down 0.0%

FE stock opened at $45.42 on Tuesday. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $45.47. The stock has a market capitalization of $26.23 billion, a PE ratio of 20.10, a price-to-earnings-growth ratio of 2.79 and a beta of 0.50. 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 company has a fifty day moving average of $43.31 and a 200-day moving average of $41.70.

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 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 firm had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.45 billion. During the same quarter last 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 expect that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business 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. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. FirstEnergy's dividend payout ratio (DPR) is 78.76%.

Analysts Set New Price Targets

FE has been the subject of a number of recent research reports. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. KeyCorp reiterated an "overweight" rating and set a $46.00 price target (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Morgan Stanley reduced their target price on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a research note on Thursday. Finally, Mizuho raised their target price 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. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $46.00.

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.

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