Rockport Wealth LLC Acquires Shares of 12,410 FirstEnergy Corporation $FE

Rockport Wealth LLC bought a new stake in FirstEnergy Corporation (NYSE:FE) during the second quarter, HoldingsChannel.com reports. The firm bought 12,410 shares of the utilities provider’s stock, valued at approximately $500,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of FirstEnergy during the 2nd quarter worth $26,000. Investment Research & Advisory Group Inc. bought a new position in FirstEnergy in the second quarter valued at about $26,000. 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 during the last quarter. Olistico Wealth LLC raised its stake in FirstEnergy by 120.0% during the second quarter. Olistico Wealth LLC now owns 1,100 shares of the utilities provider’s stock worth $44,000 after acquiring an additional 600 shares in the last quarter. Finally, UMB Bank n.a. lifted its holdings in shares of FirstEnergy by 29.7% in the second quarter. UMB Bank n.a. now owns 1,665 shares of the utilities provider’s stock worth $67,000 after acquiring an additional 381 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Mizuho increased their price objective 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. KeyCorp cut FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. Wells Fargo & Company raised FirstEnergy to a “strong-buy” rating in a report on Tuesday, October 28th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a report on Wednesday, October 8th. Finally, Morgan Stanley increased their target price on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, October 21st. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Trading Down 0.4%

FE opened at $44.94 on Friday. FirstEnergy Corporation has a twelve month low of $37.58 and a twelve month high of $48.20. The company has a fifty day moving average of $46.40 and a 200-day moving average of $43.53. The stock has a market cap of $25.96 billion, a PE ratio of 19.62, a price-to-earnings-growth ratio of 2.74 and a beta of 0.66. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.80.

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

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Friday, November 7th were given a dividend of $0.445 per share. The ex-dividend date was Friday, November 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.0%. FirstEnergy’s dividend payout ratio is presently 77.73%.

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.