Wealth Alliance LLC Acquires 12,449 Shares of FirstEnergy Corporation $FE

Wealth Alliance LLC raised its position in shares of FirstEnergy Corporation (NYSE:FE) by 115.2% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 23,258 shares of the utilities provider’s stock after purchasing an additional 12,449 shares during the quarter. Wealth Alliance LLC’s holdings in FirstEnergy were worth $936,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Investment Research & Advisory Group Inc. bought a new stake in FirstEnergy during the second quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group bought a new position in FirstEnergy during the 2nd quarter worth about $26,000. Capital Advisors Ltd. LLC raised its holdings in shares of FirstEnergy by 186.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 440 shares in the last quarter. N.E.W. Advisory Services LLC bought a new stake in FirstEnergy during the 1st quarter valued at $27,000. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in FirstEnergy during the first quarter valued at about $40,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on FE. Morgan Stanley upped their target price on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. UBS Group lifted their price target on FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Jefferies Financial Group boosted their price target on FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a research note on Tuesday, October 21st. Citigroup began coverage on shares of FirstEnergy in a research note on Tuesday, October 7th. They set a “buy” rating and a $53.00 price objective for the company. Finally, KeyCorp lowered shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $49.08.

FirstEnergy Price Performance

Shares of NYSE:FE traded down $0.34 during midday trading on Thursday, reaching $45.99. 73,906 shares of the company’s stock were exchanged, compared to its average volume of 4,723,175. 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 company’s 50 day simple moving average is $45.47 and its two-hundred day simple moving average is $43.08. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $48.20. The firm has a market capitalization of $26.57 billion, a PE ratio of 20.09, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) 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 the consensus estimate 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 last year, the firm posted $0.85 EPS. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Equities research analysts expect 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. Investors of record on Friday, November 7th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 77.73%.

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.