Wells Trecaso Financial Group LLC Sells 5,396 Shares of FirstEnergy Corporation $FE

Wells Trecaso Financial Group LLC lessened its holdings in FirstEnergy Corporation (NYSE:FE) by 46.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,200 shares of the utilities provider’s stock after selling 5,396 shares during the quarter. Wells Trecaso Financial Group LLC’s holdings in FirstEnergy were worth $250,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of FE. Dakota Wealth Management raised its holdings in shares of FirstEnergy by 3.4% in the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock valued at $309,000 after acquiring an additional 249 shares in the last quarter. Kovitz Investment Group Partners LLC raised its holdings in shares of FirstEnergy by 2.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider’s stock valued at $437,000 after acquiring an additional 255 shares in the last quarter. Equitable Trust Co. raised its holdings in shares of FirstEnergy by 1.2% in the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider’s stock valued at $917,000 after acquiring an additional 266 shares in the last quarter. Tranquility Partners LLC raised its holdings in shares of FirstEnergy by 1.7% in the 1st quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider’s stock valued at $734,000 after acquiring an additional 297 shares in the last quarter. Finally, Essex Financial Services Inc. raised its holdings in shares of FirstEnergy by 5.2% in the 1st quarter. Essex Financial Services Inc. now owns 6,122 shares of the utilities provider’s stock valued at $247,000 after acquiring an additional 303 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

Shares of FirstEnergy stock opened at $45.92 on Friday. 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 has a market capitalization of $26.52 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 2.79 and a beta of 0.52. The business’s 50-day moving average price is $43.65 and its 200-day moving average price is $41.84. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $46.27.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data 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 firm had revenue of $3.40 billion for the quarter, compared to analyst estimates 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 company earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Sell-side analysts forecast that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors 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 yield of 3.9%. The ex-dividend date is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 78.76%.

Analysts Set New Price Targets

Several analysts have weighed in on FE shares. Mizuho raised 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. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price target (down previously from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Morgan Stanley lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $43.00 to $49.00 in a report on Monday, August 25th. Finally, UBS Group set a $44.00 price objective on FirstEnergy and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $46.00.

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.