Waycross Partners LLC Makes New Investment in FirstEnergy Corporation $FE

Key Points

• Waycross Partners LLC invested approximately $300,000 in FirstEnergy Corporation by purchasing 7,449 shares during the 2nd quarter.
• FirstEnergy recently announced a quarterly dividend of $0.445 per share, representing an annualized yield of 4.1%.
• Morgan Stanley and Barclays both issued favorable ratings on FirstEnergy, with Barclays upgrading the stock to "overweight" and raising its price target to $49.00.

Waycross Partners LLC bought a new position in shares of FirstEnergy Corporation (NYSE:FE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,449 shares of the utilities provider's stock, valued at approximately $300,000.

Several other institutional investors have also recently made changes to their positions in the stock. CHICAGO TRUST Co NA purchased a new stake in shares of FirstEnergy during the second quarter worth $282,000. AdvisorNet Financial Inc lifted its position in shares of FirstEnergy by 40.0% during the second quarter. AdvisorNet Financial Inc now owns 23,864 shares of the utilities provider's stock worth $961,000 after acquiring an additional 6,816 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of FirstEnergy by 11.3% during the second quarter. GAMMA Investing LLC now owns 11,891 shares of the utilities provider's stock worth $479,000 after acquiring an additional 1,204 shares in the last quarter. Park Avenue Securities LLC purchased a new stake in shares of FirstEnergy during the second quarter worth $1,645,000. Finally, Sowell Financial Services LLC lifted its position in shares of FirstEnergy by 4.1% during the second quarter. Sowell Financial Services LLC now owns 61,142 shares of the utilities provider's stock worth $2,462,000 after acquiring an additional 2,407 shares in the last quarter. Hedge funds and other institutional investors own 89.41% of the company's stock.

Wall Street Analyst Weigh In

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

FirstEnergy Stock Up 0.9%

FE opened at $43.73 on Wednesday. The stock has a market cap of $25.25 billion, a PE ratio of 19.35, a P/E/G ratio of 2.66 and a beta of 0.50. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. FirstEnergy Corporation has a 52 week low of $37.58 and a 52 week high of $44.58. The business's fifty day simple moving average is $42.98 and its 200 day simple moving average is $41.53.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. The business 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 quarter in the prior year, the firm earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company 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. This represents a $1.78 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy's dividend payout ratio is currently 78.76%.

About FirstEnergy

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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