FirstEnergy (NYSE:FE) Reaches New 52-Week High - Time to Buy?

Key Points

• FirstEnergy's stock reached a new 52-week high at $46.13, with a last trading price of $45.81 and a trading volume of over 7 million shares.
• Analysts have mixed ratings on FirstEnergy, with six giving it a "Buy" rating and eight a "Hold," while the consensus target price stands at $46.00.
• The company announced a quarterly dividend of $0.445, with the stock yielding 3.9% annually and a payout ratio of 78.76%.

FirstEnergy Corporation (NYSE:FE - Get Free Report)'s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $46.13 and last traded at $45.81, with a volume of 7013952 shares trading hands. The stock had previously closed at $45.41.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on FE shares. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the company a "neutral" rating in a research note on Tuesday, June 24th. Mizuho raised 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. Morgan Stanley lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Thursday, September 25th. KeyCorp reiterated an "overweight" rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Finally, Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $43.00 to $49.00 in a research note on Monday, August 25th. Six research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $46.00.

FirstEnergy Stock Up 0.9%

The stock's fifty day moving average is $43.40 and its two-hundred day moving average is $41.73. 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 stock has a market capitalization of $26.45 billion, a P/E ratio of 20.27, a PEG ratio of 2.79 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 EPS for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. The firm had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter last year, the business posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a yield of 3.9%. FirstEnergy's dividend payout ratio (DPR) is currently 78.76%.

Hedge Funds Weigh In On FirstEnergy

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new position in FirstEnergy in the 2nd quarter worth approximately $25,000. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of FirstEnergy during the 2nd quarter valued at $26,000. Investment Research & Advisory Group Inc. acquired a new stake in shares of FirstEnergy during the 2nd quarter valued at $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of FirstEnergy during the 1st quarter valued at $27,000. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of FirstEnergy by 186.4% during 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. Institutional investors and hedge funds own 89.41% of the company's stock.

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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