Checchi Capital Advisers LLC Sells 952 Shares of FirstEnergy Corporation $FE

Checchi Capital Advisers LLC reduced its position in shares of FirstEnergy Corporation (NYSE:FE) by 15.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,307 shares of the utilities provider’s stock after selling 952 shares during the quarter. Checchi Capital Advisers LLC’s holdings in FirstEnergy were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FE. Dakota Wealth Management grew its position in shares of FirstEnergy by 3.4% during the 1st quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider’s stock worth $309,000 after buying an additional 249 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of FirstEnergy by 2.4% during the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider’s stock worth $437,000 after buying an additional 255 shares during the period. Equitable Trust Co. grew its position in shares of FirstEnergy by 1.2% during the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider’s stock worth $917,000 after buying an additional 266 shares during the period. Tranquility Partners LLC grew its position in shares of FirstEnergy by 1.7% during the 1st quarter. Tranquility Partners LLC now owns 18,159 shares of the utilities provider’s stock worth $734,000 after buying an additional 297 shares during the period. Finally, Essex Financial Services Inc. grew its position in shares of FirstEnergy by 5.2% during the 1st quarter. Essex Financial Services Inc. now owns 6,122 shares of the utilities provider’s stock worth $247,000 after buying an additional 303 shares during the period. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of FE opened at $46.43 on Wednesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The stock has a 50 day simple moving average of $43.84 and a 200 day simple moving average of $41.95. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $46.92. The firm has a market capitalization of $26.81 billion, a PE ratio of 20.54, a P/E/G ratio of 2.85 and a beta of 0.52.

FirstEnergy (NYSE:FE) last released its quarterly earnings results 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. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The firm had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the prior year, the firm posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. Sell-side analysts predict that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently declared 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 of this dividend is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a yield of 3.8%. FirstEnergy’s dividend payout ratio is 78.76%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Citigroup assumed coverage on FirstEnergy in a research report on Tuesday. They set a “buy” rating for the company. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a research report on Saturday, September 27th. UBS Group set a $44.00 target price on FirstEnergy and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Scotiabank boosted their price objective on FirstEnergy from $46.00 to $49.00 and gave the company a “sector outperform” rating in a research report on Monday. Finally, Mizuho boosted their price objective on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 1st. Eight equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat.com, FirstEnergy has an average rating of “Moderate Buy” and an average target price of $46.25.

About FirstEnergy

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.