Farther Finance Advisors LLC Increases Stock Position in FirstEnergy Corporation $FE

Farther Finance Advisors LLC raised its position in FirstEnergy Corporation (NYSE:FE) by 5.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,980 shares of the utilities provider’s stock after acquiring an additional 556 shares during the quarter. Farther Finance Advisors LLC’s holdings in FirstEnergy were worth $402,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in FirstEnergy by 14.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider’s stock valued at $2,883,000 after purchasing an additional 8,879 shares during the period. Johnson Investment Counsel Inc. grew its position in shares of FirstEnergy by 3.8% in the 1st quarter. Johnson Investment Counsel Inc. now owns 9,983 shares of the utilities provider’s stock worth $403,000 after buying an additional 366 shares during the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of FirstEnergy by 9.0% during the first quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider’s stock valued at $718,000 after buying an additional 1,464 shares during the period. Brighton Jones LLC bought a new position in shares of FirstEnergy during the fourth quarter valued at approximately $256,000. Finally, Vontobel Holding Ltd. lifted its stake in FirstEnergy by 29.7% in the first quarter. Vontobel Holding Ltd. now owns 7,684 shares of the utilities provider’s stock worth $311,000 after acquiring an additional 1,760 shares during the period. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of NYSE FE opened at $45.47 on Monday. The company has a 50 day simple moving average of $43.22 and a two-hundred day simple moving average of $41.66. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $45.47. The company has a market capitalization of $26.25 billion, a price-to-earnings ratio of 20.12, a P/E/G ratio of 2.79 and a beta of 0.50. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same period in the previous year, the firm posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.445 dividend. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio is currently 78.76%.

Analysts Set New Price Targets

Several analysts recently weighed in on FE shares. Mizuho lifted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, August 1st. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $43.00 to $49.00 in a research note on Monday, August 25th. KeyCorp reissued an “overweight” rating and issued a $46.00 price target (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. UBS Group set a $44.00 price objective on FirstEnergy and gave the company a “neutral” rating in a research report on Tuesday, June 24th. Finally, Morgan Stanley reduced their target price on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target 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.