FirstEnergy Corporation $FE Shares Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC increased its stake in FirstEnergy Corporation (NYSE:FE) by 11.4% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,906 shares of the utilities provider’s stock after purchasing an additional 1,934 shares during the quarter. Elevation Point Wealth Partners LLC’s holdings in FirstEnergy were worth $761,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC bought a new position in shares of FirstEnergy in the fourth quarter valued at approximately $256,000. Cetera Investment Advisers lifted its position in FirstEnergy by 58.5% in the first quarter. Cetera Investment Advisers now owns 158,067 shares of the utilities provider’s stock worth $6,389,000 after purchasing an additional 58,338 shares during the period. Assetmark Inc. boosted its stake in FirstEnergy by 1,025.7% during the 1st quarter. Assetmark Inc. now owns 17,527 shares of the utilities provider’s stock valued at $708,000 after purchasing an additional 15,970 shares in the last quarter. HB Wealth Management LLC increased its position in shares of FirstEnergy by 8.8% during the 1st quarter. HB Wealth Management LLC now owns 10,377 shares of the utilities provider’s stock valued at $419,000 after purchasing an additional 839 shares during the period. Finally, LPL Financial LLC raised its stake in shares of FirstEnergy by 94.6% in the 1st quarter. LPL Financial LLC now owns 555,611 shares of the utilities provider’s stock worth $22,458,000 after buying an additional 270,033 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

FE has been the subject of several research reports. KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Morgan Stanley lifted their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 21st. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. UBS Group raised their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Finally, Jefferies Financial Group upped their price target on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.08.

FirstEnergy Stock Performance

Shares of FE opened at $47.69 on Friday. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $48.20. The company has a 50-day moving average of $46.27 and a two-hundred day moving average of $43.41. The stock has a market cap of $27.55 billion, a price-to-earnings ratio of 20.83, a PEG ratio of 2.80 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51.

FirstEnergy (NYSE:FE) last released its quarterly 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 11.15%. The business had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.94 billion. During the same quarter in the previous year, the business earned $0.85 earnings per share. The firm’s revenue was up 10.8% compared to the same quarter last year. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. On average, equities research analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently announced 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 3.7%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is 77.73%.

About FirstEnergy

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.