FirstEnergy (NYSE:FE) Sets New 12-Month High – Should You Buy?

FirstEnergy Corporation (NYSE:FE) shares hit a new 52-week high during trading on Tuesday . The stock traded as high as $47.65 and last traded at $47.57, with a volume of 444745 shares trading hands. The stock had previously closed at $46.97.

Analysts Set New Price Targets

Several brokerages have issued reports on FE. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. Scotiabank reissued an “outperform” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. UBS Group set a $44.00 price target on shares of FirstEnergy and gave the company a “neutral” rating in a research note on Tuesday, June 24th. Morgan Stanley lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Finally, KeyCorp cut shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a report on Tuesday. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $46.83.

FirstEnergy Price Performance

The company has a current ratio of 0.61, a quick ratio of 0.51 and a debt-to-equity ratio of 1.68. The business has a 50-day moving average of $44.32 and a 200 day moving average of $42.26. The firm has a market capitalization of $27.51 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 2.92 and a beta of 0.52.

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

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 78.76%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. CWM LLC raised its stake in shares of FirstEnergy by 43.3% during the 3rd quarter. CWM LLC now owns 17,256 shares of the utilities provider’s stock worth $791,000 after purchasing an additional 5,212 shares during the period. Spirit of America Management Corp NY grew its position in shares of FirstEnergy by 11.3% during the 3rd quarter. Spirit of America Management Corp NY now owns 31,100 shares of the utilities provider’s stock valued at $1,425,000 after acquiring an additional 3,150 shares during the period. Jeppson Wealth Management LLC bought a new position in shares of FirstEnergy during the 3rd quarter valued at approximately $201,000. World Investment Advisors increased its stake in shares of FirstEnergy by 4.7% during the 3rd quarter. World Investment Advisors now owns 11,147 shares of the utilities provider’s stock worth $511,000 after purchasing an additional 499 shares during the last quarter. Finally, DAVENPORT & Co LLC raised its holdings in shares of FirstEnergy by 20.0% in the 3rd quarter. DAVENPORT & Co LLC now owns 95,229 shares of the utilities provider’s stock worth $4,363,000 after purchasing an additional 15,875 shares during the period. Institutional investors own 89.41% of the company’s stock.

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.