FirstEnergy Corporation $FE Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its holdings in FirstEnergy Corporation (NYSE:FE) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 58,898 shares of the utilities provider’s stock after selling 741 shares during the period. Mutual of America Capital Management LLC’s holdings in FirstEnergy were worth $2,371,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of FE. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of FirstEnergy in the 2nd quarter valued at about $26,000. Investment Research & Advisory Group Inc. acquired a new position in shares of FirstEnergy in the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC acquired a new position in shares of FirstEnergy in the 1st quarter valued at about $27,000. Capital Advisors Ltd. LLC lifted its stake in shares of FirstEnergy by 186.4% in the 2nd 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 in the last quarter. Finally, TruNorth Capital Management LLC lifted its stake in shares of FirstEnergy by 226.9% in the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 490 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 0.6%

FE opened at $46.80 on Friday. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $48.20. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The stock’s fifty day moving average is $44.80 and its 200-day moving average is $42.64. The company has a market capitalization of $27.02 billion, a PE ratio of 20.44, a P/E/G ratio of 3.15 and a beta of 0.52.

FirstEnergy (NYSE:FE) last posted 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 11.20% and a net margin of 9.19%.The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the previous year, the business earned $0.85 EPS. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. 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 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed 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 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s payout ratio is currently 77.73%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research note on Saturday. Morgan Stanley lifted their price objective on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday. UBS Group lifted their price objective on FirstEnergy from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday. Mizuho raised their target price on FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday. Finally, Scotiabank raised their target price on FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday. Seven equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $48.25.

About FirstEnergy

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.