TD Private Client Wealth LLC Has $3.22 Million Stock Holdings in FirstEnergy Corporation $FE

Key Points

• TD Private Client Wealth LLC increased its holdings in FirstEnergy Corporation by 70.9%, owning 80,048 shares valued at approximately $3.22 million.
• Analysts have set various price targets for FirstEnergy, with a consensus target price of $46.00 and ratings ranging from "Buy" to "Hold".
• FirstEnergy recently declared a quarterly dividend of $0.445 per share, with a dividend yield of 4.0%, to be paid on December 1st.

TD Private Client Wealth LLC raised its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 70.9% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,048 shares of the utilities provider's stock after buying an additional 33,222 shares during the period. TD Private Client Wealth LLC's holdings in FirstEnergy were worth $3,223,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Dakota Wealth Management boosted its position in FirstEnergy by 3.4% during the first quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider's stock valued at $309,000 after purchasing an additional 249 shares during the last quarter. Kovitz Investment Group Partners LLC raised its stake in shares of FirstEnergy by 2.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider's stock worth $437,000 after purchasing an additional 255 shares in the last quarter. Equitable Trust Co. lifted its holdings in shares of FirstEnergy by 1.2% during the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider's stock valued at $917,000 after buying an additional 266 shares during the last quarter. Firethorn Wealth Partners LLC grew its stake in shares of FirstEnergy by 5.5% in the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider's stock valued at $222,000 after buying an additional 287 shares in the last quarter. Finally, Tranquility Partners LLC increased its holdings in FirstEnergy by 1.7% in the first quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider's stock worth $734,000 after buying an additional 297 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FE has been the subject of a number of analyst reports. KeyCorp reiterated an "overweight" rating and issued a $46.00 target price (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Mizuho lifted their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, August 1st. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and upped their price objective for the stock from $43.00 to $49.00 in a report on Monday, August 25th. UBS Group set a $44.00 target price on FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Finally, Morgan Stanley reaffirmed an "overweight" rating on shares of FirstEnergy in a research report on Thursday, August 21st. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $46.00.

FirstEnergy Stock Performance

Shares of FE opened at $44.07 on Thursday. The company has a market capitalization of $25.44 billion, a PE ratio of 19.50, a price-to-earnings-growth ratio of 2.69 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.58. The company's fifty day moving average price is $43.06 and its 200 day moving average price is $41.54.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The company had revenue of $3.40 billion during the quarter, compared to analysts' expectations of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same period in the prior year, the company 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 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.0%. FirstEnergy's payout ratio is 78.76%.

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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