Advisors Asset Management Inc. Acquires 14,718 Shares of FirstEnergy Corporation $FE

Advisors Asset Management Inc. boosted its holdings in FirstEnergy Corporation (NYSE:FE) by 52.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 42,632 shares of the utilities provider’s stock after purchasing an additional 14,718 shares during the quarter. Advisors Asset Management Inc.’s holdings in FirstEnergy were worth $1,716,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group purchased a new stake in FirstEnergy during the 2nd quarter valued at about $26,000. Investment Research & Advisory Group Inc. bought a new position in shares of FirstEnergy in the 2nd quarter worth approximately $26,000. Capital Advisors Ltd. LLC boosted its stake in shares of FirstEnergy by 186.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 440 shares during the last quarter. Olistico Wealth LLC lifted its position in FirstEnergy by 120.0% during the second quarter. Olistico Wealth LLC now owns 1,100 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 600 shares in the last quarter. Finally, UMB Bank n.a. lifted its position in shares of FirstEnergy by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 1,665 shares of the utilities provider’s stock valued at $67,000 after buying an additional 381 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on FE shares. Morgan Stanley upped their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. Wells Fargo & Company upgraded shares of FirstEnergy to a “strong-buy” rating in a report on Tuesday, October 28th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $43.00 to $49.00 in a research report on Monday, August 25th. Mizuho increased their price objective on shares of FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Stock Up 0.7%

NYSE:FE opened at $47.69 on Friday. The company’s 50-day simple moving average is $46.27 and its 200-day simple moving average is $43.43. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.51 and a current ratio of 0.75. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20. The stock has a market capitalization of $27.55 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.80 and a beta of 0.53.

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

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a $0.445 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.7%. FirstEnergy’s dividend payout ratio (DPR) 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.