1858 Wealth Management LLC Increases Position in FirstEnergy Corporation $FE

1858 Wealth Management LLC lifted its position in shares of FirstEnergy Corporation (NYSE:FE) by 17.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 6,349 shares of the utilities provider’s stock after buying an additional 966 shares during the period. 1858 Wealth Management LLC’s holdings in FirstEnergy were worth $256,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group purchased a new position in FirstEnergy during the second quarter worth approximately $26,000. Investment Research & Advisory Group Inc. purchased a new position in FirstEnergy during the second quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in FirstEnergy during the first quarter worth approximately $27,000. Capital Advisors Ltd. LLC raised its stake in FirstEnergy by 186.4% during the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 440 shares during the period. Finally, TruNorth Capital Management LLC raised its stake in FirstEnergy by 226.9% during the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 490 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Citigroup assumed coverage on shares of FirstEnergy in a research note on Tuesday. They set a “buy” rating and a $53.00 price target on the stock. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Morgan Stanley cut their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Finally, Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a research note on Wednesday. Eight analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.77.

FirstEnergy Price Performance

FirstEnergy stock opened at $46.92 on Friday. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $47.37. The firm has a fifty day moving average of $44.09 and a 200-day moving average of $42.12. The firm has a market capitalization of $27.09 billion, a P/E ratio of 20.76, a PEG ratio of 2.88 and a beta of 0.52. 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 data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.02. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the prior year, the business earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.445 per share. 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 dividend payout ratio (DPR) is presently 78.76%.

FirstEnergy 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.