Retirement Planning Co of New England Inc. Makes New Investment in FirstEnergy Corporation $FE

Key Points

• Retirement Planning Co of New England Inc. invested approximately $293,000 in FirstEnergy Corporation, acquiring 7,258 shares during the first quarter of the year.
• FirstEnergy recently declared a quarterly dividend of $0.445 per share, with a yield of 4.1%, scheduled to be paid on September 1st.
• The company reported an earnings per share (EPS) of $0.52 for the last quarter, beating analyst expectations by $0.02, and has set an overall guidance of 2.400-2.600 EPS for FY 2025.

Retirement Planning Co of New England Inc. bought a new stake in FirstEnergy Corporation (NYSE:FE - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 7,258 shares of the utilities provider's stock, valued at approximately $293,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. N.E.W. Advisory Services LLC purchased a new position in shares of FirstEnergy in the 1st quarter valued at approximately $27,000. TruNorth Capital Management LLC grew its stake in shares of FirstEnergy by 226.9% in the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 490 shares during the last quarter. Bernard Wealth Management Corp. purchased a new position in shares of FirstEnergy in the 4th quarter valued at approximately $33,000. MJT & Associates Financial Advisory Group Inc. purchased a new position in shares of FirstEnergy in the 1st quarter valued at approximately $40,000. Finally, Tsfg LLC grew its stake in shares of FirstEnergy by 143.6% in 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 during the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

FE traded down $0.09 during trading on Wednesday, reaching $43.39. 2,305,028 shares of the stock were exchanged, compared to its average volume of 3,427,464. The business's 50 day moving average price is $42.05 and its two-hundred day moving average price is $41.23. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. The company has a market capitalization of $25.05 billion, a price-to-earnings ratio of 19.20, a P/E/G ratio of 2.68 and a beta of 0.50. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last posted 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. The company had revenue of $3.40 billion for 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 period 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, equities research analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

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

Analyst Upgrades and Downgrades

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

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.