Commonwealth Financial Services LLC Sells 693 Shares of FirstEnergy Corporation $FE

Commonwealth Financial Services LLC reduced its stake in shares of FirstEnergy Corporation (NYSE:FE) by 11.8% in the second quarter, HoldingsChannel.com reports. The firm owned 5,176 shares of the utilities provider’s stock after selling 693 shares during the period. Commonwealth Financial Services LLC’s holdings in FirstEnergy were worth $208,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. Brighton Jones LLC bought a new stake in FirstEnergy during the 4th quarter worth approximately $256,000. UMB Bank n.a. increased its holdings in FirstEnergy by 40.9% during the 1st quarter. UMB Bank n.a. now owns 1,284 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 373 shares in the last quarter. Farther Finance Advisors LLC increased its holdings in FirstEnergy by 165.7% during the 1st quarter. Farther Finance Advisors LLC now owns 9,424 shares of the utilities provider’s stock worth $381,000 after purchasing an additional 5,877 shares in the last quarter. CX Institutional bought a new stake in FirstEnergy during the 1st quarter worth approximately $174,000. Finally, Everhart Financial Group Inc. increased its holdings in FirstEnergy by 15.2% during the 1st quarter. Everhart Financial Group Inc. now owns 9,136 shares of the utilities provider’s stock worth $369,000 after purchasing an additional 1,207 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

FE has been the subject of several recent analyst reports. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 target price (down from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Citigroup assumed coverage on FirstEnergy in a report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price target on the stock. Morgan Stanley dropped 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. Finally, UBS Group set a $44.00 price target on FirstEnergy and gave the stock a “neutral” rating in a report on Tuesday, June 24th. Eight research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat, FirstEnergy presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.77.

FirstEnergy Price Performance

Shares of NYSE FE opened at $46.92 on Monday. The stock has a fifty day simple moving average of $44.09 and a two-hundred day simple moving average of $42.14. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $47.37. The firm has a market cap of $27.09 billion, a price-to-earnings ratio of 20.76, a price-to-earnings-growth ratio of 2.88 and a beta of 0.52. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the company earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

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