Bryn Mawr Trust Advisors LLC Increases Stock Position in FirstEnergy Corporation $FE

Bryn Mawr Trust Advisors LLC raised its position in FirstEnergy Corporation (NYSE:FE) by 6.3% in the second quarter, Holdings Channel reports. The institutional investor owned 215,942 shares of the utilities provider’s stock after purchasing an additional 12,724 shares during the period. Bryn Mawr Trust Advisors LLC’s holdings in FirstEnergy were worth $8,694,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of FirstEnergy during the 2nd quarter valued at about $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 acquired a new stake in FirstEnergy in the first quarter valued at approximately $27,000. Capital Advisors Ltd. LLC grew its holdings in FirstEnergy by 186.4% in the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 440 shares during the period. Finally, TruNorth Capital Management LLC increased its position in shares of FirstEnergy by 226.9% in the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock valued at $29,000 after buying an additional 490 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on FE shares. Scotiabank increased their target price on FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research report on Friday, October 24th. UBS Group upped their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Citigroup initiated coverage on shares of FirstEnergy in a research report on Tuesday, October 7th. They issued a “buy” rating and a $53.00 target price on the stock. Morgan Stanley boosted their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, FirstEnergy presently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Price Performance

Shares of NYSE FE opened at $45.87 on Friday. The firm has a 50-day simple moving average of $45.25 and a 200-day simple moving average of $42.97. The stock has a market capitalization of $26.50 billion, a price-to-earnings ratio of 20.03, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. 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 Corporation has a 52 week low of $37.58 and a 52 week high of $48.20.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share 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 firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same period in the previous year, the business posted $0.85 earnings per share. FirstEnergy’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. On average, equities analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The business 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 $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 77.73%.

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.