Intrust Bank NA Purchases New Stake in FirstEnergy Corporation $FE

Intrust Bank NA acquired a new position in shares of FirstEnergy Corporation (NYSE:FE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,461 shares of the utilities provider’s stock, valued at approximately $260,000.

Several other institutional investors have also recently bought and sold shares of the business. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of FirstEnergy during the second quarter valued at about $26,000. Investment Research & Advisory Group Inc. bought a new position in FirstEnergy in the 2nd quarter valued at about $26,000. N.E.W. Advisory Services LLC acquired a new position in FirstEnergy during the 1st quarter valued at about $27,000. Capital Advisors Ltd. LLC boosted its stake in 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 purchasing an additional 440 shares during the last quarter. Finally, MJT & Associates Financial Advisory Group Inc. bought a new stake in FirstEnergy during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Stock Up 0.3%

Shares of NYSE:FE opened at $46.68 on Wednesday. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $48.20. The company has a market capitalization of $26.97 billion, a PE ratio of 20.39, a price-to-earnings-growth ratio of 2.80 and a beta of 0.53. The business has a fifty day moving average price of $45.69 and a two-hundred day moving average price of $43.17. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51.

FirstEnergy (NYSE:FE) last released its earnings results on Wednesday, October 22nd. The utilities provider reported $0.83 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The business’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.85 EPS. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. Analysts forecast that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The business 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 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 dividend payout ratio is currently 77.73%.

Analysts Set New Price Targets

Several research analysts recently issued reports on FE shares. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. UBS Group raised their price objective on FirstEnergy from $47.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Scotiabank upped their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a “sector outperform” rating in a research note on Friday, October 24th. KeyCorp lowered shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. Finally, Morgan Stanley boosted their price target on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, FirstEnergy currently has an average rating of “Moderate Buy” and a consensus price target of $49.08.

FirstEnergy 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.