5,170 Shares in FirstEnergy Corporation $FE Acquired by Naples Global Advisors LLC

Naples Global Advisors LLC purchased a new stake in FirstEnergy Corporation (NYSE:FE) during the second quarter, Holdings Channel reports. The firm purchased 5,170 shares of the utilities provider’s stock, valued at approximately $208,000.

Other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of FirstEnergy in the 4th quarter worth about $256,000. GAMMA Investing LLC boosted its position in FirstEnergy by 3,864.1% in the first quarter. GAMMA Investing LLC now owns 431,969 shares of the utilities provider’s stock valued at $17,460,000 after buying an additional 421,072 shares in the last quarter. NBC Securities Inc. grew its stake in FirstEnergy by 296,700.0% during the first quarter. NBC Securities Inc. now owns 2,968 shares of the utilities provider’s stock worth $119,000 after buying an additional 2,967 shares during the last quarter. Merit Financial Group LLC increased its holdings in shares of FirstEnergy by 22.7% during the first quarter. Merit Financial Group LLC now owns 36,317 shares of the utilities provider’s stock worth $1,468,000 after buying an additional 6,720 shares in the last quarter. Finally, Matrix Trust Co raised its stake in shares of FirstEnergy by 43.1% in the first quarter. Matrix Trust Co now owns 3,450 shares of the utilities provider’s stock valued at $139,000 after acquiring an additional 1,039 shares during the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on FE shares. UBS Group set a $44.00 price target on FirstEnergy and gave the company a “neutral” rating in a report on Tuesday, June 24th. Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $43.00 to $49.00 in a research note on Monday, August 25th. Morgan Stanley reduced their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Thursday, September 25th. 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 report on Friday, August 1st. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $46.00 target price (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, FirstEnergy presently has a consensus rating of “Hold” and an average price target of $46.00.

FirstEnergy Stock Up 1.0%

Shares of NYSE:FE opened at $45.92 on Friday. 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 cap of $26.52 billion, a price-to-earnings ratio of 20.32, a P/E/G ratio of 2.79 and a beta of 0.52. The company has a 50 day moving average of $43.65 and a 200-day moving average of $41.84. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $46.27.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) 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 firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.45 billion. During the same period last year, the firm earned $0.56 earnings per share. 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 year.

FirstEnergy Announces Dividend

The business also recently announced 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. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, November 7th. FirstEnergy’s payout ratio 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.