New York Life Investment Management LLC Buys 1,257 Shares of FirstEnergy Corporation $FE

New York Life Investment Management LLC grew its stake in shares of FirstEnergy Corporation (NYSE:FE) by 1.8% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 69,826 shares of the utilities provider’s stock after acquiring an additional 1,257 shares during the quarter. New York Life Investment Management LLC’s holdings in FirstEnergy were worth $2,811,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of FE. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of FirstEnergy during the 2nd quarter valued at $26,000. Investment Research & Advisory Group Inc. bought a new stake in shares of FirstEnergy during the 2nd quarter valued at $26,000. N.E.W. Advisory Services LLC bought a new stake in shares of FirstEnergy during the 1st quarter valued at $27,000. Capital Advisors Ltd. LLC lifted its position in shares of FirstEnergy by 186.4% during the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 440 shares during the period. Finally, TruNorth Capital Management LLC lifted its position in shares of FirstEnergy by 226.9% during the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 490 shares during the period. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Price Performance

Shares of FE opened at $46.22 on Friday. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20. The business has a 50-day simple moving average of $45.03 and a two-hundred day simple moving average of $42.81. The company has a quick ratio of 0.51, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. The stock has a market cap of $26.69 billion, a PE ratio of 20.19, a PEG ratio of 2.80 and a beta of 0.52.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (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 business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same quarter in the prior year, the firm earned $0.85 EPS. The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Analysts anticipate that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Barclays upgraded FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. Wells Fargo & Company upgraded FirstEnergy to a “strong-buy” rating in a research report on Tuesday. UBS Group upped their price objective on FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Friday, October 24th. Scotiabank upped their price objective on FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research report on Friday, October 24th. Finally, Citigroup assumed coverage on FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.08.

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.