Creative Planning Has $2.58 Million Position in FirstEnergy Corporation $FE

Creative Planning grew its stake in FirstEnergy Corporation (NYSE:FE) by 30.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 64,177 shares of the utilities provider’s stock after purchasing an additional 14,897 shares during the quarter. Creative Planning’s holdings in FirstEnergy were worth $2,584,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of FE. Brighton Jones LLC bought a new stake in shares of FirstEnergy during the fourth quarter worth approximately $256,000. Cetera Investment Advisers boosted its stake in FirstEnergy by 58.5% in the 1st quarter. Cetera Investment Advisers now owns 158,067 shares of the utilities provider’s stock valued at $6,389,000 after purchasing an additional 58,338 shares during the period. Assetmark Inc. grew its holdings in FirstEnergy by 1,025.7% in the 1st quarter. Assetmark Inc. now owns 17,527 shares of the utilities provider’s stock valued at $708,000 after buying an additional 15,970 shares in the last quarter. HB Wealth Management LLC increased its position in FirstEnergy by 8.8% during the 1st quarter. HB Wealth Management LLC now owns 10,377 shares of the utilities provider’s stock worth $419,000 after buying an additional 839 shares during the period. Finally, Empirical Finance LLC lifted its holdings in shares of FirstEnergy by 3.5% during the first quarter. Empirical Finance LLC now owns 18,612 shares of the utilities provider’s stock worth $752,000 after buying an additional 636 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Scotiabank raised their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, October 24th. Jefferies Financial Group upped their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company raised FirstEnergy to a “strong-buy” rating in a report on Tuesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $49.08.

FirstEnergy Price Performance

Shares of NYSE FE opened at $47.36 on Tuesday. The firm’s 50-day moving average price is $45.95 and its 200-day moving average price is $43.28. FirstEnergy Corporation has a 1-year low of $37.58 and a 1-year high of $48.20. The company has a current ratio of 0.75, a quick ratio of 0.51 and a debt-to-equity ratio of 1.80. The firm has a market capitalization of $27.36 billion, a P/E ratio of 20.68, a P/E/G ratio of 2.80 and a beta of 0.53.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data 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 11.15%. The firm had revenue of $4.15 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period last year, the company earned $0.85 earnings per share. The business’s revenue was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Equities research analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

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 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 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.