Montag A & Associates Inc. Grows Position in FirstEnergy Corporation $FE

Montag A & Associates Inc. lifted its position in shares of FirstEnergy Corporation (NYSE:FE) by 29.6% during the 2nd quarter, HoldingsChannel reports. The firm owned 6,998 shares of the utilities provider’s stock after acquiring an additional 1,600 shares during the period. Montag A & Associates Inc.’s holdings in FirstEnergy were worth $282,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC purchased a new position in FirstEnergy during the 4th quarter valued at about $256,000. Allworth Financial LP increased its stake in shares of FirstEnergy by 7.4% during the first quarter. Allworth Financial LP now owns 5,136 shares of the utilities provider’s stock valued at $217,000 after purchasing an additional 353 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of FirstEnergy by 6.4% in the 1st quarter. New York State Common Retirement Fund now owns 291,401 shares of the utilities provider’s stock worth $11,778,000 after purchasing an additional 17,500 shares in the last quarter. Bleakley Financial Group LLC grew its stake in shares of FirstEnergy by 2.3% in the 1st quarter. Bleakley Financial Group LLC now owns 14,228 shares of the utilities provider’s stock worth $575,000 after buying an additional 315 shares during the last quarter. Finally, Dakota Wealth Management increased its position in FirstEnergy by 3.4% during the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock valued at $309,000 after buying an additional 249 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Price Performance

FE opened at $46.36 on Thursday. The company’s 50-day simple moving average is $45.47 and its two-hundred day simple moving average is $43.08. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.51 and a current ratio of 0.75. The stock has a market capitalization of $26.78 billion, a P/E ratio of 20.24, a P/E/G ratio of 2.80 and a beta of 0.53. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $48.20.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm 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% on a year-over-year basis. During the same period in the previous year, the company earned $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio is presently 77.73%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. Scotiabank lifted their price target on FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 24th. Morgan Stanley increased their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. Jefferies Financial Group raised their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Finally, Citigroup started coverage on shares of FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 target price on the stock. One equities 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, the stock presently 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.