Stablepoint Partners LLC Has $5.13 Million Stake in FirstEnergy Corporation $FE

Stablepoint Partners LLC lifted its position in shares of FirstEnergy Corporation (NYSE:FE) by 2.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 127,306 shares of the utilities provider’s stock after buying an additional 2,788 shares during the quarter. Stablepoint Partners LLC’s holdings in FirstEnergy were worth $5,125,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Brighton Jones LLC acquired a new stake in FirstEnergy during the 4th quarter worth about $256,000. Cetera Investment Advisers boosted its position in shares of FirstEnergy by 58.5% during the 1st quarter. Cetera Investment Advisers now owns 158,067 shares of the utilities provider’s stock valued at $6,389,000 after purchasing an additional 58,338 shares in the last quarter. Assetmark Inc. grew its stake in FirstEnergy by 1,025.7% during the first quarter. Assetmark Inc. now owns 17,527 shares of the utilities provider’s stock worth $708,000 after purchasing an additional 15,970 shares during the period. HB Wealth Management LLC increased its holdings in FirstEnergy by 8.8% in the first quarter. HB Wealth Management LLC now owns 10,377 shares of the utilities provider’s stock worth $419,000 after purchasing an additional 839 shares in the last quarter. Finally, LPL Financial LLC lifted its stake in FirstEnergy by 94.6% in the first quarter. LPL Financial LLC now owns 555,611 shares of the utilities provider’s stock valued at $22,458,000 after buying an additional 270,033 shares during the period. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Trading Up 0.7%

FE opened at $47.69 on Friday. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20. The firm has a market capitalization of $27.55 billion, a PE ratio of 20.83, a P/E/G ratio of 2.80 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51. The company’s 50-day moving average is $46.27 and its 200 day moving average is $43.41.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data 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 return on equity of 11.15% and a net margin of 9.19%.The firm had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the company posted $0.85 EPS. The company’s revenue for the quarter 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, research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal 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 paid a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a yield of 3.7%. FirstEnergy’s dividend payout ratio (DPR) is 77.73%.

Analyst Upgrades and Downgrades

FE has been the subject of several recent analyst reports. Citigroup initiated coverage on shares of FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price objective for the company. UBS Group raised their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $49.00 in a research note on Monday, August 25th. Scotiabank increased their price objective on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 24th. Finally, Morgan Stanley boosted their target price on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $49.08.

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.