Naples Global Advisors LLC Makes New Investment in FirstEnergy Corporation $FE

Naples Global Advisors LLC acquired a new stake in shares of FirstEnergy Corporation (NYSE:FE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,170 shares of the utilities provider’s stock, valued at approximately $208,000.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in FirstEnergy during the fourth quarter valued at approximately $256,000. GAMMA Investing LLC boosted its holdings in shares of FirstEnergy by 3,864.1% during the 1st quarter. GAMMA Investing LLC now owns 431,969 shares of the utilities provider’s stock worth $17,460,000 after buying an additional 421,072 shares during the period. NBC Securities Inc. grew its stake in FirstEnergy by 296,700.0% in the 1st quarter. NBC Securities Inc. now owns 2,968 shares of the utilities provider’s stock valued at $119,000 after buying an additional 2,967 shares during the last quarter. Merit Financial Group LLC grew its stake in FirstEnergy by 22.7% in the 1st quarter. Merit Financial Group LLC now owns 36,317 shares of the utilities provider’s stock valued at $1,468,000 after buying an additional 6,720 shares during the last quarter. Finally, Matrix Trust Co raised its holdings in FirstEnergy by 43.1% in the 1st quarter. Matrix Trust Co now owns 3,450 shares of the utilities provider’s stock worth $139,000 after acquiring an additional 1,039 shares during the period. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of FE stock opened at $45.92 on Friday. FirstEnergy Corporation has a 12 month low of $37.58 and a 12 month high of $46.27. The company has a market capitalization of $26.52 billion, a P/E ratio of 20.32, a P/E/G ratio of 2.79 and a beta of 0.52. The stock has a 50 day moving average of $43.65 and a two-hundred day moving average of $41.84. The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.02. The business had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same period in the prior year, the company posted $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Friday, November 7th. FirstEnergy’s payout ratio is 78.76%.

Analyst Upgrades and Downgrades

FE has been the subject of a number of recent analyst reports. Morgan Stanley decreased their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. KeyCorp reissued an “overweight” rating and set a $46.00 price objective (down previously from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $43.00 to $49.00 in a report on Monday, August 25th. Mizuho lifted their price target on FirstEnergy from $43.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of FirstEnergy in a report on Saturday, September 27th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.00.

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.