6,965 Shares in FirstEnergy Corporation $FE Purchased by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management purchased a new position in shares of FirstEnergy Corporation (NYSE:FE) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 6,965 shares of the utilities provider’s stock, valued at approximately $280,000.

A number of other large investors have also recently made changes to their positions in the company. Beacon Financial Advisory LLC boosted its stake in shares of FirstEnergy by 425.5% during the 2nd quarter. Beacon Financial Advisory LLC now owns 33,310 shares of the utilities provider’s stock worth $1,341,000 after purchasing an additional 26,971 shares during the period. Olistico Wealth LLC boosted its stake in shares of FirstEnergy by 120.0% during the 2nd quarter. Olistico Wealth LLC now owns 1,100 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 600 shares during the period. Berger Financial Group Inc boosted its position in FirstEnergy by 1.8% in the 2nd quarter. Berger Financial Group Inc now owns 143,389 shares of the utilities provider’s stock valued at $5,773,000 after buying an additional 2,595 shares during the period. Firethorn Wealth Partners LLC grew its stake in FirstEnergy by 10.4% in the 2nd quarter. Firethorn Wealth Partners LLC now owns 6,065 shares of the utilities provider’s stock worth $244,000 after acquiring an additional 573 shares in the last quarter. Finally, 111 Capital bought a new position in FirstEnergy in the 2nd quarter worth about $517,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FE has been the topic of a number of research analyst reports. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. Mizuho upped their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research note on Friday, August 1st. KeyCorp restated an “overweight” rating and issued a $46.00 target price (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a research note on Saturday, September 27th. Finally, Morgan Stanley dropped their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to data from MarketBeat, FirstEnergy presently has a consensus rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Price Performance

Shares of FE opened at $45.92 on Friday. The company has a 50 day moving average price of $43.65 and a 200-day moving average price of $41.86. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $46.27. The stock has a market capitalization of $26.52 billion, a PE ratio of 20.32, a PEG ratio of 2.82 and a beta of 0.52. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. The firm had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter in the prior year, the company earned $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Equities analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared 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. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio is presently 78.76%.

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.