Morton Community Bank Sells 67,792 Shares of FirstEnergy Corporation $FE

Morton Community Bank reduced its position in FirstEnergy Corporation (NYSE:FE) by 74.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,866 shares of the utilities provider’s stock after selling 67,792 shares during the quarter. Morton Community Bank’s holdings in FirstEnergy were worth $961,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. DekaBank Deutsche Girozentrale raised its position in FirstEnergy by 1.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 84,565 shares of the utilities provider’s stock worth $3,355,000 after purchasing an additional 1,349 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in FirstEnergy by 418.0% during the second quarter. Mackenzie Financial Corp now owns 270,183 shares of the utilities provider’s stock valued at $10,878,000 after purchasing an additional 218,020 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in FirstEnergy by 52.7% during the second quarter. Advisors Asset Management Inc. now owns 42,632 shares of the utilities provider’s stock valued at $1,716,000 after purchasing an additional 14,718 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of FirstEnergy by 1,379.5% in the 2nd quarter. Edgestream Partners L.P. now owns 114,945 shares of the utilities provider’s stock valued at $4,628,000 after purchasing an additional 107,176 shares during the period. Finally, Atria Investments Inc raised its holdings in shares of FirstEnergy by 84.7% in the 2nd quarter. Atria Investments Inc now owns 52,238 shares of the utilities provider’s stock worth $2,103,000 after buying an additional 23,959 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Trading Down 0.4%

Shares of FE opened at $44.94 on Friday. The stock has a fifty day moving average price of $46.40 and a two-hundred day moving average price of $43.53. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75. The company has a market cap of $25.96 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 2.75 and a beta of 0.66. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week 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 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 analyst estimates of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The firm’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same period last year, the company posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were paid a $0.445 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 4.0%. FirstEnergy’s payout ratio is currently 77.73%.

Analyst Ratings Changes

Several analysts recently commented on the company. Wells Fargo & Company raised FirstEnergy to a “strong-buy” rating in a research note on Tuesday, October 28th. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. KeyCorp downgraded shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. 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 report on Tuesday, October 21st. Finally, Scotiabank lifted their price target on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, October 24th. One investment 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.com, FirstEnergy has an average rating of “Moderate Buy” and a consensus target price of $49.08.

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.