FirstEnergy Corporation $FE Shares Acquired by AlphaQuest LLC

AlphaQuest LLC increased its stake in FirstEnergy Corporation (NYSE:FE) by 39.8% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 33,712 shares of the utilities provider’s stock after buying an additional 9,598 shares during the quarter. AlphaQuest LLC’s holdings in FirstEnergy were worth $1,357,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Investment Research & Advisory Group Inc. acquired a new stake in FirstEnergy in the second quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in FirstEnergy in the second quarter worth about $26,000. N.E.W. Advisory Services LLC bought a new stake in FirstEnergy in the first quarter worth about $27,000. Capital Advisors Ltd. LLC raised its position in FirstEnergy by 186.4% in the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 440 shares in the last quarter. Finally, TruNorth Capital Management LLC raised its position in FirstEnergy by 226.9% in the first quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock worth $29,000 after acquiring an additional 490 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on FE. Morgan Stanley boosted their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday. Citigroup began coverage on shares of FirstEnergy in a research report on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price target on the stock. Scotiabank boosted their price target on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Finally, UBS Group boosted their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday. Seven equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat.com, FirstEnergy has a consensus rating of “Hold” and an average target price of $48.25.

FirstEnergy Trading Up 0.6%

NYSE:FE opened at $46.80 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51. FirstEnergy Corporation has a fifty-two week low of $37.58 and a fifty-two week high of $48.20. The stock’s 50-day moving average is $44.80 and its two-hundred day moving average is $42.61. The stock has a market cap of $27.02 billion, a PE ratio of 20.44, a price-to-earnings-growth ratio of 3.14 and a beta of 0.52.

FirstEnergy (NYSE:FE) last released its earnings results 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. FirstEnergy had a return on equity of 11.20% and a net margin of 9.19%.The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the previous year, the business posted $0.85 EPS. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, equities research analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

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