FirstEnergy (NYSE:FE) Sets New 52-Week High - Here's What Happened

Key Points

• FirstEnergy's stock reached a new 52-week high of $44.58 during trading on Thursday, with a closing price of $44.28.
• Analyst ratings show a mix, with six research firms giving a Buy rating and eight giving a Hold rating, leading to an average target price of $46.00.
• The company announced a quarterly dividend of $0.445 per share, payable on December 1st, representing a 4.0% dividend yield.

FirstEnergy Corporation (NYSE:FE - Get Free Report) shares reached a new 52-week high during trading on Thursday . The stock traded as high as $44.58 and last traded at $44.28, with a volume of 395664 shares. The stock had previously closed at $44.08.

Analyst Upgrades and Downgrades

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

FirstEnergy Stock Up 0.1%

The stock has a market cap of $25.47 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.69 and a beta of 0.50. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. The firm's fifty day moving average is $43.06 and its 200 day moving average is $41.54.

FirstEnergy (NYSE:FE - Get Free Report) last posted its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, beating 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 business had revenue of $3.40 billion for the quarter, compared to analysts' expectations of $3.45 billion. During the same quarter in the previous year, the firm posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities research analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.0%. FirstEnergy's dividend payout ratio is currently 78.76%.

Institutional Trading of FirstEnergy

Large investors have recently added to or reduced their stakes in the company. State of Wyoming acquired a new stake in FirstEnergy in the 2nd quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of FirstEnergy during the 2nd quarter valued at approximately $26,000. Investment Research & Advisory Group Inc. bought a new stake in shares of FirstEnergy during the 2nd quarter valued at approximately $26,000. N.E.W. Advisory Services LLC bought a new stake in shares of FirstEnergy during the 1st quarter valued at approximately $27,000. Finally, Capital Advisors Ltd. LLC boosted its position in FirstEnergy by 186.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider's stock worth $27,000 after buying an additional 440 shares during the period. Institutional investors and hedge funds own 89.41% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.