Park Avenue Securities LLC Takes $1.65 Million Position in FirstEnergy Corporation $FE

Park Avenue Securities LLC purchased a new stake in FirstEnergy Corporation (NYSE:FE) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 40,871 shares of the utilities provider’s stock, valued at approximately $1,645,000.

Other hedge funds have also made changes to their positions in the company. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of FirstEnergy in the 2nd quarter valued at approximately $26,000. N.E.W. Advisory Services LLC purchased a new stake in shares of FirstEnergy in the 1st quarter valued at approximately $27,000. TruNorth Capital Management LLC grew its stake in shares of 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. MJT & Associates Financial Advisory Group Inc. purchased a new stake in shares of FirstEnergy in the 1st quarter valued at approximately $40,000. Finally, Tsfg LLC grew its stake in shares of FirstEnergy by 143.6% in the 1st quarter. Tsfg LLC now owns 1,072 shares of the utilities provider’s stock valued at $43,000 after buying an additional 632 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FE shares. Mizuho upped their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Morgan Stanley decreased their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday. KeyCorp restated an “overweight” rating and issued a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. UBS Group set a $44.00 price objective on shares of FirstEnergy and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Finally, Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $43.00 to $49.00 in a report 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 stock has a consensus rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Price Performance

FirstEnergy stock opened at $44.25 on Friday. The firm has a market cap of $25.55 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.71 and a beta of 0.50. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $44.58. 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 company’s 50 day moving average is $43.13 and its two-hundred day moving average is $41.58.

FirstEnergy (NYSE:FE) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The company 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 business earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, research analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be issued 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 4.0%. FirstEnergy’s dividend payout ratio is 78.76%.

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.