Focus Partners Advisor Solutions LLC Takes Position in FirstEnergy Corporation $FE

by · The Markets Daily

Focus Partners Advisor Solutions LLC bought a new stake in shares of FirstEnergy Corporation (NYSE:FE – Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 7,252 shares of the utilities provider’s stock, valued at approximately $292,000.

Several other hedge funds have also recently made changes to their positions in the company. Investment Research & Advisory Group Inc. purchased a new position in FirstEnergy during the 2nd quarter valued at about $26,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in FirstEnergy during the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC purchased a new position in shares of FirstEnergy during the first quarter valued at approximately $27,000. Capital Advisors Ltd. LLC increased its stake in shares of FirstEnergy by 186.4% during the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after buying an additional 440 shares during the period. Finally, TruNorth Capital Management LLC lifted its stake in shares of FirstEnergy by 226.9% in the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 490 shares during the period. 89.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group upped their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Friday, October 24th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $43.00 to $49.00 in a report on Monday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Citigroup initiated coverage on FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price objective for the company. Finally, Jefferies Financial Group raised their price objective on FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $49.08.

Read Our Latest Report on FirstEnergy

FirstEnergy Stock Performance

Shares of FE opened at $45.90 on Friday. The stock has a 50-day moving average of $45.07 and a two-hundred day moving average of $42.84. FirstEnergy Corporation has a one year low of $37.58 and a one year high of $48.20. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.51 and a current ratio of 0.75. The stock has a market cap of $26.50 billion, a P/E ratio of 20.04, a P/E/G ratio of 2.80 and a beta of 0.52.

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

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s payout ratio is 77.73%.

FirstEnergy Profile

(Free Report)

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.

Featured Articles

Want to see what other hedge funds are holding FE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FirstEnergy Corporation (NYSE:FE – Free Report).