FirstEnergy Corporation $FE Shares Purchased by Wedmont Private Capital

Wedmont Private Capital raised its stake in FirstEnergy Corporation (NYSE:FE) by 13.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,293 shares of the utilities provider’s stock after purchasing an additional 878 shares during the quarter. Wedmont Private Capital’s holdings in FirstEnergy were worth $293,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. N.E.W. Advisory Services LLC bought a new stake in FirstEnergy in the first quarter valued at about $27,000. TruNorth Capital Management LLC boosted its stake in 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 acquiring an additional 490 shares during the period. Bernard Wealth Management Corp. acquired a new position in FirstEnergy in the fourth quarter valued at approximately $33,000. MJT & Associates Financial Advisory Group Inc. acquired a new position in FirstEnergy in the first quarter valued at approximately $40,000. Finally, Tsfg LLC boosted its stake in FirstEnergy by 143.6% in the first quarter. Tsfg LLC now owns 1,072 shares of the utilities provider’s stock valued at $43,000 after acquiring an additional 632 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

FE stock opened at $43.29 on Monday. The stock has a market cap of $24.99 billion, a PE ratio of 19.15, a P/E/G ratio of 2.66 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $44.58. The firm has a 50 day simple moving average of $42.86 and a two-hundred day simple moving average of $41.48.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same quarter in the prior year, the company posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, September 1st. Shareholders of record on Thursday, August 7th were issued a $0.445 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.78 annualized dividend and a yield of 4.1%. FirstEnergy’s dividend payout ratio is 78.76%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FE. Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. KeyCorp reaffirmed an “overweight” rating and issued a $46.00 price target (down previously from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a report on Thursday, August 21st. Mizuho upped their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, August 1st. Finally, UBS Group set a $44.00 target price on shares of FirstEnergy and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Six investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $46.00.

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.