VIRGINIA RETIREMENT SYSTEMS ET Al Purchases New Holdings in FirstEnergy Corporation $FE

Key Points

• Virginia Retirement Systems has purchased 121,800 shares of FirstEnergy Corporation valued at approximately $4.9 million during the 2nd quarter.
• FirstEnergy reported quarterly earnings of $0.52 per share, exceeding analyst expectations, and has set its FY 2025 guidance at 2.400-2.600 EPS.
• The company announced a quarterly dividend of $0.445 per share, indicating a yield of 3.8% and a payout ratio of 78.76%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 121,800 shares of the utilities provider's stock, valued at approximately $4,904,000.

Other hedge funds also recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in FirstEnergy in the 2nd quarter valued at about $26,000. Investment Research & Advisory Group Inc. purchased a new stake in FirstEnergy in the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC purchased a new stake in FirstEnergy in the 1st quarter valued at about $27,000. Capital Advisors Ltd. LLC boosted its position in FirstEnergy by 186.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider's stock valued at $27,000 after buying an additional 440 shares during the period. Finally, TruNorth Capital Management LLC boosted its position in 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 buying an additional 490 shares during the period. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Trading Up 0.6%

NYSE FE opened at $47.24 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. The firm has a market cap of $27.27 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 3.18 and a beta of 0.52. The company has a 50 day moving average price of $44.54 and a 200 day moving average price of $42.43. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $47.99.

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

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid 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 yield of 3.8%. FirstEnergy's dividend payout ratio is presently 78.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FE shares. UBS Group set a $44.00 price objective on shares of FirstEnergy and gave the company a "neutral" rating in a research report on Tuesday, June 24th. Mizuho boosted their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 1st. Citigroup started coverage on shares of FirstEnergy in a research report on Tuesday, October 7th. They issued a "buy" rating and a $53.00 price objective for the company. KeyCorp cut shares of FirstEnergy from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 14th. Finally, Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $46.91.

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.

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