FirstEnergy Corporation (NYSE:FE) Announces $0.45 Quarterly Dividend

Key Points

• FirstEnergy Corporation has declared a quarterly dividend of $0.45 per share, which will be paid on December 1 to stockholders of record as of November 7.
• The company has a robust payout ratio of 65.9% and is projected to earn $2.89 per share next year, allowing it to comfortably cover its dividend.
• FirstEnergy's stock performance has improved, with shares trading at $43.73 and a market cap of $25.25 billion, accompanied by solid earnings results that exceeded expectations.

FirstEnergy Corporation (NYSE:FE - Get Free Report) announced a quarterly dividend on Tuesday, September 23rd, RTT News reports. Stockholders of record on Friday, November 7th will be paid a dividend of 0.445 per share by the utilities provider on Monday, December 1st. This represents a c) annualized dividend and a dividend yield of 4.1%.

FirstEnergy has a payout ratio of 65.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FirstEnergy to earn $2.89 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 61.6%.

FirstEnergy Price Performance

Shares of NYSE:FE traded up $0.40 on Tuesday, hitting $43.73. The company had a trading volume of 3,144,704 shares, compared to its average volume of 3,164,066. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. FirstEnergy has a 52-week low of $37.58 and a 52-week high of $44.58. The business has a 50 day moving average of $42.92 and a 200 day moving average of $41.51. The company has a market cap of $25.25 billion, a PE ratio of 19.35, a PEG ratio of 2.66 and a beta of 0.50.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $3.40 billion for 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 period in the prior year, the firm posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities analysts anticipate that FirstEnergy will post 2.66 earnings per share for the current fiscal year.

Institutional Trading of FirstEnergy

A number of hedge funds and other institutional investors have recently made changes to their positions in FE. Federated Hermes Inc. raised its holdings in FirstEnergy by 198.1% during the 2nd quarter. Federated Hermes Inc. now owns 6,888,967 shares of the utilities provider's stock worth $277,350,000 after purchasing an additional 4,578,375 shares during the last quarter. Boston Partners boosted its position in shares of FirstEnergy by 14.9% in the 1st quarter. Boston Partners now owns 18,962,859 shares of the utilities provider's stock worth $767,952,000 after purchasing an additional 2,459,779 shares during the last quarter. Wealthquest Corp acquired a new stake in shares of FirstEnergy during the first quarter worth $53,169,000. Vanguard Group Inc. increased its holdings in FirstEnergy by 1.3% in the second quarter. Vanguard Group Inc. now owns 66,988,086 shares of the utilities provider's stock valued at $2,696,940,000 after purchasing an additional 837,872 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in FirstEnergy by 82.2% in the second quarter. Envestnet Asset Management Inc. now owns 1,326,830 shares of the utilities provider's stock valued at $53,418,000 after buying an additional 598,732 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

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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