Brookstone Capital Management Has $252,000 Stock Holdings in FirstEnergy Corporation $FE

Brookstone Capital Management reduced its stake in FirstEnergy Corporation (NYSE:FE) by 14.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,253 shares of the utilities provider’s stock after selling 1,074 shares during the quarter. Brookstone Capital Management’s holdings in FirstEnergy were worth $252,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. CWM LLC lifted its stake in shares of FirstEnergy by 2.0% in the second quarter. CWM LLC now owns 12,044 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 240 shares during the period. Dakota Wealth Management raised its position in shares of FirstEnergy by 3.4% in the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 249 shares in the last quarter. Kovitz Investment Group Partners LLC raised its position in shares of FirstEnergy by 2.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider’s stock worth $437,000 after acquiring an additional 255 shares in the last quarter. Equitable Trust Co. raised its position in shares of FirstEnergy by 1.2% in the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 266 shares in the last quarter. Finally, Valeo Financial Advisors LLC raised its position in shares of FirstEnergy by 4.5% in the 2nd quarter. Valeo Financial Advisors LLC now owns 6,444 shares of the utilities provider’s stock worth $259,000 after acquiring an additional 277 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently commented on FE. Jefferies Financial Group boosted their target price on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Citigroup initiated coverage on FirstEnergy in a research note on Tuesday, October 7th. They set a “buy” rating and a $53.00 price target for the company. Morgan Stanley lifted their price target on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $43.00 to $49.00 in a research note on Monday, August 25th. Finally, KeyCorp downgraded FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Eight analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Price Performance

FirstEnergy stock opened at $46.18 on Wednesday. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $48.20. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. The business’s 50 day simple moving average is $44.93 and its 200 day simple moving average is $42.75. The company has a market cap of $26.66 billion, a price-to-earnings ratio of 20.16, a PEG ratio of 2.84 and a beta of 0.52.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.20%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the firm posted $0.85 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Sell-side analysts forecast 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. Stockholders of record on Friday, November 7th will be issued a $0.445 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. FirstEnergy’s dividend payout ratio is presently 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.