Cornell Pochily Investment Advisors Inc. Trims Holdings in FirstEnergy Corporation $FE

Cornell Pochily Investment Advisors Inc. reduced its stake in shares of FirstEnergy Corporation (NYSE:FE) by 13.8% in the 2nd quarter, Holdings Channel reports. The fund owned 10,216 shares of the utilities provider’s stock after selling 1,640 shares during the period. Cornell Pochily Investment Advisors Inc.’s holdings in FirstEnergy were worth $411,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in FirstEnergy by 0.5% in the first quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock valued at $2,673,792,000 after purchasing an additional 306,313 shares during the period. Boston Partners boosted its stake in shares of FirstEnergy by 14.9% in the first quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock worth $767,952,000 after acquiring an additional 2,459,779 shares during the last quarter. Royal Bank of Canada boosted its stake in shares of FirstEnergy by 2.9% in the first quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock worth $165,674,000 after acquiring an additional 116,825 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of FirstEnergy by 0.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,430,753 shares of the utilities provider’s stock worth $138,671,000 after acquiring an additional 28,683 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of FirstEnergy by 0.8% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,664,698 shares of the utilities provider’s stock worth $107,707,000 after acquiring an additional 21,177 shares during the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. KeyCorp reissued 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. Mizuho boosted their price objective on FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. Morgan Stanley lowered their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Finally, Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $43.00 to $49.00 in a research report 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 stock has a consensus rating of “Hold” and an average target price of $46.00.

FirstEnergy Price Performance

Shares of NYSE FE opened at $45.48 on Friday. The stock’s 50-day moving average is $43.57 and its two-hundred day moving average is $41.80. The company has a market cap of $26.26 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.52. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $46.27. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.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. Analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be paid 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 yield of 3.9%. FirstEnergy’s dividend payout ratio is currently 78.76%.

FirstEnergy 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.