FirstEnergy Corporation $FE Shares Bought by HBK Sorce Advisory LLC

HBK Sorce Advisory LLC raised its position in FirstEnergy Corporation (NYSE:FE) by 11.5% in the 2nd quarter, Holdings Channel reports. The fund owned 10,794 shares of the utilities provider’s stock after acquiring an additional 1,113 shares during the period. HBK Sorce Advisory LLC’s holdings in FirstEnergy were worth $435,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of FirstEnergy by 2.0% in the 2nd quarter. CWM LLC now owns 12,044 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 240 shares during the period. Dakota Wealth Management lifted its stake in shares of FirstEnergy by 3.4% in the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock worth $309,000 after acquiring an additional 249 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of FirstEnergy by 2.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider’s stock worth $437,000 after acquiring an additional 255 shares during the period. Equitable Trust Co. lifted its stake in shares of FirstEnergy by 1.2% in the first quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider’s stock valued at $917,000 after purchasing an additional 266 shares during the period. Finally, Valeo Financial Advisors LLC boosted its holdings in FirstEnergy by 4.5% during the second quarter. Valeo Financial Advisors LLC now owns 6,444 shares of the utilities provider’s stock worth $259,000 after buying an additional 277 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE opened at $45.90 on Friday. 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 stock has a market cap of $26.50 billion, a P/E ratio of 20.04, a PEG ratio of 2.80 and a beta of 0.52. The company has a 50-day moving average of $45.07 and a two-hundred day moving average of $42.84. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20.

FirstEnergy (NYSE:FE) last announced its 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. The company had revenue of $4.10 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%. The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, research analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Shareholders of record on Friday, November 7th will be given a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a yield of 3.9%. FirstEnergy’s payout ratio is presently 77.73%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Wells Fargo & Company upgraded shares of FirstEnergy to a “strong-buy” rating in a research report on Tuesday. Jefferies Financial Group upped their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research report on Tuesday, October 21st. Scotiabank upped their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 24th. Finally, 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 report on Monday, August 25th. 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 stock. Based on data from MarketBeat, FirstEnergy has a consensus rating of “Moderate Buy” and an average target price of $49.08.

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.