Volterra Technologies LP Takes $737,000 Position in FirstEnergy Corporation $FE

Volterra Technologies LP purchased a new position in shares of FirstEnergy Corporation (NYSE:FE) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,318 shares of the utilities provider’s stock, valued at approximately $737,000.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Investment Research & Advisory Group Inc. purchased a new stake in shares of FirstEnergy during the 2nd quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in FirstEnergy during the 2nd quarter worth approximately $26,000. Capital Advisors Ltd. LLC raised its holdings in FirstEnergy by 186.4% in the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 440 shares in the last quarter. Olistico Wealth LLC raised its stake in shares of FirstEnergy by 120.0% in the 2nd quarter. Olistico Wealth LLC now owns 1,100 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 600 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in FirstEnergy by 29.7% during the 2nd quarter. UMB Bank n.a. now owns 1,665 shares of the utilities provider’s stock worth $67,000 after buying an additional 381 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.9%

Shares of FirstEnergy stock opened at $44.39 on Thursday. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. The stock has a 50 day moving average price of $46.33 and a two-hundred day moving average price of $43.59. The stock has a market capitalization of $25.64 billion, a P/E ratio of 19.38, a PEG ratio of 2.73 and a beta of 0.66.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.15 billion for the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The company’s quarterly revenue was up 10.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Equities analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 1st. Shareholders of record on Friday, November 7th were issued a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date was Friday, November 7th. FirstEnergy’s dividend payout ratio is 77.73%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. UBS Group increased their target price on FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Mizuho upped their target price on FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Citigroup began coverage on shares of FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price objective on the stock. KeyCorp lowered FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. Finally, Wells Fargo & Company upgraded shares of FirstEnergy to a “strong-buy” rating in a research report on Tuesday, October 28th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, FirstEnergy presently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

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.