FirstEnergy Corporation $FE Shares Acquired by Profund Advisors LLC

Profund Advisors LLC boosted its stake in FirstEnergy Corporation (NYSE:FE) by 27.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,824 shares of the utilities provider’s stock after purchasing an additional 5,622 shares during the period. Profund Advisors LLC’s holdings in FirstEnergy were worth $1,040,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. purchased a new stake in shares of FirstEnergy in the second quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in FirstEnergy during the 2nd quarter worth approximately $26,000. N.E.W. Advisory Services LLC purchased a new position in FirstEnergy in the 1st quarter worth approximately $27,000. Capital Advisors Ltd. LLC grew 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 acquiring an additional 440 shares in the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. acquired a new stake in FirstEnergy in the first quarter valued at approximately $40,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Morgan Stanley boosted their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Barclays raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $43.00 to $49.00 in a research note on Monday, August 25th. Weiss Ratings reissued a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Jefferies Financial Group raised their target price on FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Finally, Citigroup initiated coverage on FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price target on the stock. 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $49.08.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $46.28 on Wednesday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 0.51 and a current ratio of 0.75. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $48.20. The firm’s 50-day simple moving average is $45.41 and its 200-day simple moving average is $43.06. The firm has a market cap of $26.73 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53.

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

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders 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 dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s payout ratio is 77.73%.

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.