6,965 Shares in FirstEnergy Corporation $FE Acquired by Keudell Morrison Wealth Management

Keudell Morrison Wealth Management acquired a new position in shares of FirstEnergy Corporation (NYSE:FE) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 6,965 shares of the utilities provider’s stock, valued at approximately $280,000.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of FirstEnergy by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 66,150,214 shares of the utilities provider’s stock worth $2,673,792,000 after acquiring an additional 306,313 shares in the last quarter. Boston Partners raised its stake in shares of FirstEnergy by 14.9% during the 1st quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock worth $767,952,000 after acquiring an additional 2,459,779 shares in the last quarter. Royal Bank of Canada raised its stake in shares of FirstEnergy by 2.9% during the 1st quarter. Royal Bank of Canada now owns 4,098,769 shares of the utilities provider’s stock worth $165,674,000 after acquiring an additional 116,825 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of FirstEnergy by 0.8% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,430,753 shares of the utilities provider’s stock worth $138,671,000 after acquiring an additional 28,683 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of FirstEnergy by 0.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,664,698 shares of the utilities provider’s stock worth $107,707,000 after acquiring an additional 21,177 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on FE shares. Morgan Stanley reduced their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a research note on Saturday, September 27th. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the company a “neutral” rating in a research note on Tuesday, June 24th. KeyCorp restated an “overweight” rating and set a $46.00 price target (down previously from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. Finally, Mizuho upped their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Friday, August 1st. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy presently has an average rating of “Hold” and an average target price of $46.00.

FirstEnergy Trading Up 1.0%

Shares of FirstEnergy stock opened at $45.92 on Friday. The firm has a market capitalization of $26.52 billion, a price-to-earnings ratio of 20.32, a PEG ratio of 2.82 and a beta of 0.52. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $46.27. The firm’s 50 day simple moving average is $43.65 and its two-hundred day simple moving average is $41.86. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.50 by $0.02. The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a net margin of 9.31% and a return on equity of 11.31%. During the same quarter in the prior year, the business earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a $0.445 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.9%. FirstEnergy’s dividend payout ratio is presently 78.76%.

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.