UMB Bank n.a. Boosts Stock Position in FirstEnergy Corporation $FE

UMB Bank n.a. increased its stake in shares of FirstEnergy Corporation (NYSE:FE) by 29.7% in the second quarter, HoldingsChannel reports. The firm owned 1,665 shares of the utilities provider’s stock after buying an additional 381 shares during the quarter. UMB Bank n.a.’s holdings in FirstEnergy were worth $67,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management boosted its stake in FirstEnergy by 3.4% in the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock worth $309,000 after buying an additional 249 shares during the last quarter. Kovitz Investment Group Partners LLC boosted its stake in FirstEnergy by 2.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider’s stock worth $437,000 after buying an additional 255 shares during the last quarter. Equitable Trust Co. boosted its stake in FirstEnergy by 1.2% in the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider’s stock worth $917,000 after buying an additional 266 shares during the last quarter. Firethorn Wealth Partners LLC boosted its stake in FirstEnergy by 5.5% in the 1st quarter. Firethorn Wealth Partners LLC now owns 5,492 shares of the utilities provider’s stock worth $222,000 after buying an additional 287 shares during the last quarter. Finally, Tranquility Partners LLC boosted its stake in FirstEnergy by 1.7% in the 1st quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider’s stock worth $734,000 after buying an additional 297 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. KeyCorp reissued an “overweight” rating and issued a $46.00 price target (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Morgan Stanley decreased their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday. Mizuho raised their price target on FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note 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. Finally, Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $43.00 to $49.00 in a research note on Monday, August 25th. Six 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 has an average rating of “Hold” and an average target price of $46.00.

FirstEnergy Stock Performance

Shares of NYSE:FE opened at $44.25 on Friday. The company has a market cap of $25.55 billion, a P/E ratio of 19.58, a PEG ratio of 2.71 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.58. The business’s 50-day simple moving average is $43.13 and its 200 day simple moving average is $41.58.

FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same period last year, the business posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, sell-side analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 4.0%. The ex-dividend date is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 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.