Wealth Alliance LLC Has $936,000 Stake in FirstEnergy Corporation $FE

Wealth Alliance LLC boosted its stake in FirstEnergy Corporation (NYSE:FE) by 115.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp lifted its stake in FirstEnergy by 33.8% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 425,860 shares of the utilities provider’s stock worth $17,145,000 after acquiring an additional 107,579 shares during the period. National Pension Service raised its stake in shares of FirstEnergy by 0.7% in the second quarter. National Pension Service now owns 860,246 shares of the utilities provider’s stock worth $34,634,000 after purchasing an additional 6,063 shares during the last quarter. Montag A & Associates Inc. lifted its stake in FirstEnergy by 29.6% during the 2nd quarter. Montag A & Associates Inc. now owns 6,998 shares of the utilities provider’s stock valued at $282,000 after acquiring an additional 1,600 shares during the period. Vise Technologies Inc. purchased a new stake in FirstEnergy during the 2nd quarter valued at $647,000. Finally, Allworth Financial LP lifted its holdings in FirstEnergy by 33.5% in the second quarter. Allworth Financial LP now owns 6,858 shares of the utilities provider’s stock valued at $276,000 after acquiring an additional 1,722 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Stock Performance

Shares of FE stock traded down $0.34 on Thursday, hitting $45.99. The company had a trading volume of 73,906 shares, compared to its average volume of 4,723,175. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $48.20. The company has a 50-day moving average price of $45.47 and a 200-day moving average price of $43.08. The firm has a market cap of $26.57 billion, a P/E ratio of 20.09, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.FirstEnergy’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, equities research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a $0.445 dividend. The ex-dividend date is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a yield of 3.9%. FirstEnergy’s dividend payout ratio (DPR) is presently 77.73%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FE. Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $43.00 to $49.00 in a research report on Monday, August 25th. Jefferies Financial Group increased their price target on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research note 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. Mizuho boosted their price objective on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company upgraded FirstEnergy to a “strong-buy” rating in a report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $49.08.

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.