FirstEnergy Target of Unusually High Options Trading (NYSE:FE)

FirstEnergy Corporation (NYSE:FE) was the recipient of some unusual options trading on Tuesday. Stock investors bought 9,243 call options on the stock. This represents an increase of approximately 284% compared to the average daily volume of 2,407 call options.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on FE shares. Scotiabank upped their price target on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a research note on Friday, October 24th. KeyCorp downgraded FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. Jefferies Financial Group lifted their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $43.00 to $49.00 in a report on Monday, August 25th. Finally, Citigroup assumed coverage on FirstEnergy in a report on Tuesday, October 7th. They set a “buy” rating and a $53.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.08.

Hedge Funds Weigh In On FirstEnergy

Large investors have recently added to or reduced their stakes in the stock. Advisory Services Network LLC grew its position in shares of FirstEnergy by 254.5% in the third quarter. Advisory Services Network LLC now owns 40,009 shares of the utilities provider’s stock valued at $1,833,000 after purchasing an additional 28,724 shares during the period. San Luis Wealth Advisors LLC lifted its stake in FirstEnergy by 17.2% in the 3rd quarter. San Luis Wealth Advisors LLC now owns 17,393 shares of the utilities provider’s stock valued at $797,000 after buying an additional 2,553 shares in the last quarter. NewEdge Advisors LLC boosted its holdings in FirstEnergy by 10.2% in the 3rd quarter. NewEdge Advisors LLC now owns 36,565 shares of the utilities provider’s stock worth $1,675,000 after buying an additional 3,373 shares during the last quarter. Caxton Associates LLP purchased a new stake in FirstEnergy during the 3rd quarter worth approximately $5,007,000. Finally, Woodline Partners LP increased its stake in FirstEnergy by 23.6% during the 3rd quarter. Woodline Partners LP now owns 68,683 shares of the utilities provider’s stock worth $3,147,000 after buying an additional 13,115 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Trading Up 0.3%

FE stock opened at $46.68 on Wednesday. FirstEnergy has a 52-week low of $37.58 and a 52-week high of $48.20. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. The firm has a market cap of $26.97 billion, a P/E ratio of 20.39, a PEG ratio of 2.80 and a beta of 0.53. The company’s 50-day simple moving average is $45.69 and its 200-day simple moving average is $43.17.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same quarter in the prior year, the business posted $0.85 earnings per share. FirstEnergy’s revenue for the quarter was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, equities analysts forecast that FirstEnergy will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

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 yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s payout ratio is presently 77.73%.

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.