Sequoia Financial Advisors LLC Grows Stock Holdings in FirstEnergy Corporation $FE

Key Points

• Sequoia Financial Advisors LLC increased its holdings in FirstEnergy Corporation by 17.7% during Q2, owning 39,807 shares worth approximately $1.6 million.
• FirstEnergy reported earnings of $0.52 per share for the last quarter, which exceeded analyst expectations, although revenue fell short of predictions.
• The company has announced a quarterly dividend of $0.445, representing an annualized yield of 3.8% and a payout ratio of 78.76%.

Sequoia Financial Advisors LLC raised its position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 17.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,807 shares of the utilities provider's stock after purchasing an additional 5,977 shares during the period. Sequoia Financial Advisors LLC's holdings in FirstEnergy were worth $1,603,000 at the end of the most recent reporting period.

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

FirstEnergy Stock Down 1.9%

NYSE FE opened at $46.79 on Friday. 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 stock has a market capitalization of $27.02 billion, a PE ratio of 20.70, a PEG ratio of 3.23 and a beta of 0.52. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $47.99. The business's 50-day moving average is $44.39 and its 200 day moving average is $42.31.

FirstEnergy (NYSE:FE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.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. Sell-side analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently announced 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 of this dividend is Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. FirstEnergy's dividend payout ratio (DPR) is presently 78.76%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on FE shares. Morgan Stanley lowered their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research report on Thursday, September 25th. UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Barclays upgraded 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 reiterated a "buy (b)" rating on shares of FirstEnergy in a report on Wednesday, October 8th. Finally, Mizuho lifted their price objective on FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $46.83.

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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