Cherokee Insurance Co Invests $1.33 Million in FirstEnergy Corporation $FE

Cherokee Insurance Co bought a new position in shares of FirstEnergy Corporation (NYSE:FE) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 33,000 shares of the utilities provider’s stock, valued at approximately $1,329,000.

Several other institutional investors also recently bought and sold shares of FE. Oliver Lagore Vanvalin Investment Group purchased a new position in shares of FirstEnergy in the 2nd quarter valued at $26,000. Investment Research & Advisory Group Inc. acquired a new stake in FirstEnergy in the 2nd quarter valued at $26,000. N.E.W. Advisory Services LLC acquired a new stake in FirstEnergy in the 1st quarter valued at $27,000. Capital Advisors Ltd. LLC raised its position in FirstEnergy by 186.4% in the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 440 shares during the period. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of FirstEnergy during the first quarter worth about $40,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Trading Up 0.2%

FE opened at $46.36 on Thursday. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51. The stock has a market capitalization of $26.78 billion, a PE ratio of 20.24, a P/E/G ratio of 2.80 and a beta of 0.53. The firm’s fifty day moving average price is $45.47 and its 200 day moving average price is $43.08.

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

FirstEnergy Announces Dividend

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 dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is currently 77.73%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Weiss Ratings reiterated a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. Morgan Stanley lifted their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research note on Tuesday, October 21st. Mizuho upped their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Scotiabank raised their price target on shares of FirstEnergy from $49.00 to $51.00 and gave the company a “sector outperform” rating in a report on Friday, October 24th. Finally, Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $43.00 to $49.00 in a report on Monday, August 25th. 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. According to data from MarketBeat.com, FirstEnergy has an average rating of “Moderate Buy” and an average price target of $49.08.

About FirstEnergy

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.