Intrust Bank NA Takes Position in FirstEnergy Corporation $FE

Intrust Bank NA acquired a new position in FirstEnergy Corporation (NYSE:FE) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 6,461 shares of the utilities provider’s stock, valued at approximately $260,000.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of FirstEnergy by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock valued at $2,673,792,000 after buying an additional 306,313 shares during the last quarter. Boston Partners lifted its stake in shares of 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. Geode Capital Management LLC lifted its stake in shares of FirstEnergy by 1.1% in the second quarter. Geode Capital Management LLC now owns 13,091,114 shares of the utilities provider’s stock worth $524,764,000 after acquiring an additional 146,742 shares during the period. Royal Bank of Canada boosted its holdings 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 valued at $165,674,000 after acquiring an additional 116,825 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings 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 valued at $138,671,000 after acquiring an additional 28,683 shares during the last quarter. 89.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on FE. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $43.00 to $49.00 in a report on Monday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Mizuho boosted their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Wells Fargo & Company raised shares of FirstEnergy to a “strong-buy” rating in a research report on Tuesday, October 28th. Finally, KeyCorp downgraded FirstEnergy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 14th. One investment 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. Based on data from MarketBeat.com, FirstEnergy presently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Stock Up 0.3%

FirstEnergy stock opened at $46.68 on Wednesday. The company has a market capitalization of $26.97 billion, a PE ratio of 20.39, a PEG ratio of 2.80 and a beta of 0.53. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20. The firm’s fifty day moving average is $45.69 and its 200 day moving average is $43.17. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.80.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The business had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the company posted $0.85 earnings per share. The business’s quarterly revenue was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, sell-side analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s payout ratio is presently 77.73%.

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.