Wilmington Savings Fund Society FSB Raises Holdings in FirstEnergy Corporation $FE

Wilmington Savings Fund Society FSB grew its position in FirstEnergy Corporation (NYSE:FE) by 3.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 73,364 shares of the utilities provider’s stock after buying an additional 2,169 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in FirstEnergy were worth $2,954,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in FE. Brighton Jones LLC purchased a new stake in shares of FirstEnergy in the 4th quarter worth $256,000. Farther Finance Advisors LLC lifted its holdings in shares of FirstEnergy by 165.7% in the 1st quarter. Farther Finance Advisors LLC now owns 9,424 shares of the utilities provider’s stock worth $381,000 after buying an additional 5,877 shares during the period. Sound Income Strategies LLC lifted its holdings in shares of FirstEnergy by 217.0% in the 1st quarter. Sound Income Strategies LLC now owns 1,233 shares of the utilities provider’s stock worth $50,000 after buying an additional 844 shares during the period. Exchange Traded Concepts LLC lifted its holdings in shares of FirstEnergy by 15.5% in the 1st quarter. Exchange Traded Concepts LLC now owns 28,342 shares of the utilities provider’s stock worth $1,146,000 after buying an additional 3,800 shares during the period. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of FirstEnergy by 15.2% in the 1st quarter. Janney Montgomery Scott LLC now owns 105,986 shares of the utilities provider’s stock worth $4,284,000 after buying an additional 13,976 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on FE. Weiss Ratings restated a “buy (b)” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Scotiabank restated an “outperform” rating on shares of FirstEnergy in a research note on Wednesday, October 8th. 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 note on Monday, August 25th. UBS Group set a $44.00 price objective on FirstEnergy and gave the stock a “neutral” rating in a research note on Tuesday, June 24th. Finally, Morgan Stanley decreased their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Thursday, September 25th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $46.83.

FirstEnergy Trading Up 1.2%

Shares of NYSE:FE opened at $47.52 on Wednesday. The business’s 50-day moving average is $44.24 and its 200 day moving average is $42.23. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $47.66. The firm has a market capitalization of $27.44 billion, a P/E ratio of 21.03, a P/E/G ratio of 2.89 and a beta of 0.52. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.61 and a quick ratio of 0.51.

FirstEnergy (NYSE:FE) last announced its earnings results 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. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The company had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same period in the prior year, the company posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. On average, research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy’s dividend payout ratio is currently 78.76%.

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.