Bleakley Financial Group LLC Buys 7,475 Shares of FirstEnergy Corporation $FE

Bleakley Financial Group LLC boosted its position in shares of FirstEnergy Corporation (NYSE:FE) by 52.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,703 shares of the utilities provider’s stock after purchasing an additional 7,475 shares during the period. Bleakley Financial Group LLC’s holdings in FirstEnergy were worth $874,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of FirstEnergy by 0.5% during the first quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock worth $2,673,792,000 after buying an additional 306,313 shares during the period. Boston Partners boosted its position in FirstEnergy by 14.9% during the 1st 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 position in FirstEnergy by 2.9% during the 1st 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. grew its stake in shares of FirstEnergy by 0.8% during the 1st 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 in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings 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 valued at $107,707,000 after purchasing an additional 21,177 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.6%

FirstEnergy stock opened at $46.80 on Friday. The stock has a 50-day simple moving average of $44.80 and a 200 day simple moving average of $42.64. The stock has a market capitalization of $27.02 billion, a P/E ratio of 20.44, a PEG ratio of 3.15 and a beta of 0.52. 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 52 week low of $37.58 and a 52 week high of $48.20.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a return on equity of 11.20% and a net margin of 9.19%.The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the firm posted $0.85 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

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 issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. The ex-dividend date is Friday, November 7th. FirstEnergy’s payout ratio is currently 77.73%.

Analysts Set New Price Targets

Several research analysts recently commented on FE shares. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Morgan Stanley raised their price objective on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday. Jefferies Financial Group lifted their target price on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday. Citigroup assumed coverage on FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price target for the company. Finally, UBS Group boosted their price target on FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $48.25.

About FirstEnergy

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.