FirstEnergy Corporation $FE Shares Acquired by Wealthfront Advisers LLC

Wealthfront Advisers LLC raised its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 18.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 202,162 shares of the utilities provider’s stock after buying an additional 30,955 shares during the period. Wealthfront Advisers LLC’s holdings in FirstEnergy were worth $9,263,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of FE. Profund Advisors LLC lifted its position in shares of FirstEnergy by 5.2% during the 3rd quarter. Profund Advisors LLC now owns 27,164 shares of the utilities provider’s stock valued at $1,245,000 after acquiring an additional 1,340 shares during the last quarter. ProShare Advisors LLC raised its position in shares of FirstEnergy by 90.6% during the third quarter. ProShare Advisors LLC now owns 239,556 shares of the utilities provider’s stock worth $10,976,000 after purchasing an additional 113,846 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings in shares of FirstEnergy by 0.9% during the third quarter. Linden Thomas Advisory Services LLC now owns 40,883 shares of the utilities provider’s stock valued at $1,873,000 after purchasing an additional 383 shares during the last quarter. Breakwater Capital Group boosted its position in shares of FirstEnergy by 3.1% in the 3rd quarter. Breakwater Capital Group now owns 8,779 shares of the utilities provider’s stock valued at $402,000 after purchasing an additional 262 shares during the period. Finally, New York Life Investment Management LLC boosted its position in shares of FirstEnergy by 1.0% in the 3rd quarter. New York Life Investment Management LLC now owns 70,508 shares of the utilities provider’s stock valued at $3,231,000 after purchasing an additional 682 shares during the period. Institutional investors own 89.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on FE shares. Scotiabank raised their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a report on Friday, October 24th. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a research report on Wednesday. UBS Group lowered their price objective on shares of FirstEnergy from $49.00 to $46.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Weiss Ratings restated a “buy (b-)” rating on shares of FirstEnergy in a report on Monday, December 29th. Finally, Mizuho lifted their price target on FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Nine equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, FirstEnergy has a consensus rating of “Moderate Buy” and an average price target of $48.85.

FirstEnergy Stock Performance

Shares of NYSE FE opened at $47.95 on Thursday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.64. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $48.20. The business’s 50-day moving average price is $45.69 and its two-hundred day moving average price is $45.23. The company has a market capitalization of $27.70 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 2.72 and a beta of 0.64.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Thursday, May 7th will be issued a $0.465 dividend. This is a boost from FirstEnergy’s previous quarterly dividend of $0.45. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date is Thursday, May 7th. FirstEnergy’s dividend payout ratio is currently 77.73%.

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.