Code Waechter LLC Makes New $209,000 Investment in FirstEnergy Corporation $FE

Code Waechter LLC purchased a new position in FirstEnergy Corporation (NYSE:FE) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 5,180 shares of the utilities provider’s stock, valued at approximately $209,000.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in FirstEnergy by 0.5% in the first quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock worth $2,673,792,000 after acquiring an additional 306,313 shares during the period. Boston Partners raised its position in FirstEnergy by 14.9% in the first 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 period. Royal Bank of Canada raised its position in FirstEnergy by 2.9% in the first 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 period. Charles Schwab Investment Management Inc. raised its position in FirstEnergy by 0.8% in the first 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 during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 worth $107,707,000 after acquiring an additional 21,177 shares during the period. 89.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FE has been the topic of several recent research reports. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. Scotiabank raised their price objective on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. Citigroup began coverage on shares of FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price objective on the stock. Jefferies Financial Group raised their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Finally, Mizuho raised their price objective on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstEnergy has a consensus rating of “Moderate Buy” and a consensus target price of $49.08.

FirstEnergy Stock Up 0.4%

Shares of FE stock opened at $46.03 on Tuesday. The company has a market capitalization of $26.59 billion, a price-to-earnings ratio of 20.10, a PEG ratio of 2.80 and a beta of 0.52. The company’s fifty day moving average price is $45.12 and its 200-day moving average price is $42.90. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $48.20. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51.

FirstEnergy (NYSE:FE) last posted its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.94 billion. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. FirstEnergy’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Sell-side analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced 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. This represents a $1.78 annualized dividend and a yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

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.