FirstEnergy Corporation (NYSE:FE) Plans Quarterly Dividend of $0.47

FirstEnergy Corporation (NYSE:FE) announced a quarterly dividend on Wednesday, February 11th. Stockholders of record on Thursday, May 7th will be given a dividend of 0.465 per share by the utilities provider on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Thursday, May 7th. This is a 4.5% increase from FirstEnergy’s previous quarterly dividend of $0.45.

FirstEnergy has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. FirstEnergy has a payout ratio of 65.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect FirstEnergy to earn $2.89 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 61.6%.

FirstEnergy Stock Up 0.6%

Shares of NYSE FE opened at $47.95 on Thursday. FirstEnergy has a 52 week low of $37.58 and a 52 week high of $48.20. The stock’s fifty day moving average is $45.69 and its 200 day moving average is $45.23. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.64 and a current ratio of 0.75. The stock has a market capitalization of $27.70 billion, a P/E ratio of 20.94, a PEG ratio of 2.72 and a beta of 0.64.

Institutional Investors Weigh In On FirstEnergy

A number of institutional investors have recently added to or reduced their stakes in the business. State of Wyoming bought a new position in shares of FirstEnergy during the second quarter valued at $25,000. American National Bank & Trust raised its position in FirstEnergy by 380.2% during the 3rd quarter. American National Bank & Trust now owns 581 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 460 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in FirstEnergy during the 3rd quarter worth about $27,000. TruNorth Capital Management LLC grew its position in shares of FirstEnergy by 187.5% in the 3rd quarter. TruNorth Capital Management LLC now owns 621 shares of the utilities provider’s stock valued at $28,000 after buying an additional 405 shares during the last quarter. Finally, Olistico Wealth LLC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at about $31,000. 89.41% of the stock is owned by institutional investors.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.