Raleigh Capital Management Inc. Has $1.24 Million Holdings in FirstEnergy Corporation $FE

Key Points

• Raleigh Capital Management Inc. increased its holdings in FirstEnergy Corporation by 118.1%, bringing its investment to $1.24 million as of the second quarter.
• FirstEnergy recently declared a quarterly dividend of $0.445 per share, translating to an annualized dividend of $1.78 and a yield of 3.9%.
• Despite reporting a profit of $0.52 earnings per share for the latest quarter, FirstEnergy's revenue fell short of analysts' estimates, leading to mixed sentiments from investment analysts on the stock's outlook.

Raleigh Capital Management Inc. lifted its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 118.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,733 shares of the utilities provider's stock after buying an additional 16,642 shares during the quarter. Raleigh Capital Management Inc.'s holdings in FirstEnergy were worth $1,237,000 at the end of the most recent reporting period.

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

FirstEnergy Stock Down 0.0%

FirstEnergy stock opened at $45.42 on Tuesday. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $45.47. The firm has a market capitalization of $26.23 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 2.79 and a beta of 0.50. The firm's fifty day moving average price is $43.31 and its two-hundred day moving average price is $41.70. 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 (NYSE:FE - Get Free Report) last released its quarterly earnings data 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. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period last year, the firm earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders 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 dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy's dividend payout ratio (DPR) is 78.76%.

Wall Street Analysts Forecast Growth

FE has been the topic of several research analyst reports. Morgan Stanley cut 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. KeyCorp reissued an "overweight" rating and set a $46.00 target price (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. UBS Group set a $44.00 target price on shares of FirstEnergy and gave the stock a "neutral" rating in a research note on Tuesday, June 24th. Barclays raised shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. Finally, Mizuho increased 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 investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $46.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.