NorthRock Partners LLC Reduces Stock Holdings in FirstEnergy Corporation $FE

NorthRock Partners LLC trimmed its holdings in shares of FirstEnergy Corporation (NYSE:FE) by 9.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,190 shares of the utilities provider’s stock after selling 618 shares during the quarter. NorthRock Partners LLC’s holdings in FirstEnergy were worth $249,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Verdence Capital Advisors LLC grew its stake in FirstEnergy by 125.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 24,694 shares of the utilities provider’s stock worth $994,000 after buying an additional 13,743 shares during the last quarter. Envestnet Portfolio Solutions Inc. grew its stake in FirstEnergy by 111.9% during the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 50,488 shares of the utilities provider’s stock worth $2,033,000 after buying an additional 26,660 shares during the last quarter. Sequoia Financial Advisors LLC grew its stake in FirstEnergy by 17.7% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 39,807 shares of the utilities provider’s stock worth $1,603,000 after buying an additional 5,977 shares during the last quarter. MGO One Seven LLC grew its stake in FirstEnergy by 35.6% during the 2nd quarter. MGO One Seven LLC now owns 15,104 shares of the utilities provider’s stock worth $608,000 after buying an additional 3,965 shares during the last quarter. Finally, CWM LLC lifted its position in FirstEnergy by 2.0% during the 2nd quarter. CWM LLC now owns 12,044 shares of the utilities provider’s stock worth $485,000 after acquiring an additional 240 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Stock Performance

Shares of FE stock opened at $46.79 on Friday. The stock has a market cap of $27.02 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 3.23 and a beta of 0.52. The business has a 50-day simple moving average of $44.39 and a 200-day simple moving average of $42.31. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. FirstEnergy Corporation has a 52-week low of $37.58 and a 52-week high of $47.99.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.50 by $0.02. The business had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter in the previous year, the firm posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities analysts expect that FirstEnergy Corporation will post 2.66 EPS for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be issued a $0.445 dividend. This represents a $1.78 annualized dividend and a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s payout ratio is 78.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FE. Morgan Stanley lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. Citigroup began coverage on FirstEnergy in a research report on Tuesday, October 7th. They set a “buy” rating and a $53.00 price target for the company. UBS Group set a $44.00 price target on FirstEnergy and gave the stock a “neutral” rating in a research report on Tuesday, June 24th. Scotiabank reaffirmed an “outperform” rating on shares of FirstEnergy in a research report on Wednesday, October 8th. Finally, KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat, FirstEnergy has an average rating of “Hold” and an average target price of $46.83.

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.