Tranquility Partners LLC Boosts Holdings in FirstEnergy Corporation $FE

Tranquility Partners LLC lifted its stake in FirstEnergy Corporation (NYSE:FE) by 8.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,651 shares of the utilities provider’s stock after purchasing an additional 1,492 shares during the quarter. Tranquility Partners LLC’s holdings in FirstEnergy were worth $791,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of FE. Brighton Jones LLC purchased a new position in shares of FirstEnergy in the 4th quarter worth about $256,000. UMB Bank n.a. raised its position in FirstEnergy by 40.9% in the 1st quarter. UMB Bank n.a. now owns 1,284 shares of the utilities provider’s stock worth $52,000 after buying an additional 373 shares during the last quarter. Farther Finance Advisors LLC raised its position in FirstEnergy by 165.7% in the 1st quarter. Farther Finance Advisors LLC now owns 9,424 shares of the utilities provider’s stock worth $381,000 after buying an additional 5,877 shares during the last quarter. CX Institutional purchased a new position in FirstEnergy in the 1st quarter worth about $174,000. Finally, Everhart Financial Group Inc. raised its position in FirstEnergy by 15.2% in the 1st quarter. Everhart Financial Group Inc. now owns 9,136 shares of the utilities provider’s stock worth $369,000 after buying an additional 1,207 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on FE shares. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. Scotiabank reissued an “outperform” rating on shares of FirstEnergy in a research report on Wednesday. UBS Group set a $44.00 target price on FirstEnergy and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Finally, Citigroup assumed coverage on FirstEnergy in a research report on Tuesday. They issued a “buy” rating and a $53.00 target price for the company. Eight investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.77.

FirstEnergy Trading Up 0.5%

FirstEnergy stock opened at $46.92 on Friday. The business has a 50-day simple moving average of $44.09 and a two-hundred day simple moving average of $42.12. The company has a market cap of $27.09 billion, a P/E ratio of 20.76, a P/E/G ratio of 2.88 and a beta of 0.52. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $47.37. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE) last released its quarterly earnings results 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. The business had revenue of $3.40 billion during 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 in the previous year, the company posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be paid a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.8%. FirstEnergy’s payout ratio is 78.76%.

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.