Teza Capital Management LLC Sells 30,943 Shares of FirstEnergy Corporation $FE

Key Points

• Teza Capital Management LLC significantly reduced its stake in FirstEnergy Corporation by 78.4%, holding only 8,520 shares after selling 30,943 shares in the first quarter.
• FirstEnergy's stock price recently dropped 0.4%, with a market cap of $24.99 billion and a P/E ratio of 19.15.
• FirstEnergy announced a quarterly dividend of $0.445 per share, reflecting an annual yield of 4.1% and a payout ratio of 78.76%.

Teza Capital Management LLC trimmed its holdings in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 78.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,520 shares of the utilities provider's stock after selling 30,943 shares during the quarter. Teza Capital Management LLC's holdings in FirstEnergy were worth $344,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of FE. N.E.W. Advisory Services LLC bought a new position in FirstEnergy during the first quarter valued at $27,000. TruNorth Capital Management LLC grew its holdings 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 during the period. Bernard Wealth Management Corp. bought a new position in FirstEnergy during the fourth quarter valued at $33,000. MJT & Associates Financial Advisory Group Inc. bought a new position in FirstEnergy during the first quarter valued at $40,000. Finally, Tsfg LLC grew its holdings in FirstEnergy by 143.6% during the first 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 period. 89.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FE has been the subject of several research reports. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a report on Thursday, August 21st. Mizuho increased their price objective on FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a report on Friday, August 1st. KeyCorp reissued an "overweight" rating and set a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Barclays raised FirstEnergy from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $43.00 to $49.00 in a report on Monday, August 25th. Finally, UBS Group set a $44.00 price target on FirstEnergy and gave the stock a "neutral" rating in a report on Tuesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat, FirstEnergy presently has a consensus rating of "Hold" and a consensus target price of $46.31.

FirstEnergy Stock Performance

Shares of FirstEnergy stock traded up $0.21 during trading hours on Friday, reaching $43.80. The company had a trading volume of 2,766,595 shares, compared to its average volume of 3,256,355. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.78. The business has a fifty day simple moving average of $42.54 and a 200 day simple moving average of $41.32. 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 firm has a market cap of $25.29 billion, a PE ratio of 19.38, a price-to-earnings-growth ratio of 2.69 and a beta of 0.50.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter last year, the company earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Investors of record on Thursday, August 7th were paid a dividend of $0.445 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.78 annualized dividend and a yield of 4.1%. FirstEnergy's dividend payout ratio (DPR) is currently 78.76%.

FirstEnergy Company 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.