Moloney Securities Asset Management LLC Purchases Shares of 5,186 FirstEnergy Corp. (NYSE:FE)

Posted by on Apr 14th, 2023

Moloney Securities Asset Management LLC purchased a new stake in shares of FirstEnergy Corp. (NYSE:FE – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 5,186 shares of the utilities provider’s stock, valued at approximately $218,000.

Several other institutional investors have also added to or reduced their stakes in FE. AdvisorNet Financial Inc raised its holdings in shares of FirstEnergy by 11.9% in the fourth quarter. AdvisorNet Financial Inc now owns 2,511 shares of the utilities provider’s stock worth $105,000 after buying an additional 268 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in shares of FirstEnergy by 26.5% in the fourth quarter. Pinnacle Bancorp Inc. now owns 1,279 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 268 shares during the period. Vantage Consulting Group Inc grew its position in shares of FirstEnergy by 4.5% in the third quarter. Vantage Consulting Group Inc now owns 6,577 shares of the utilities provider’s stock valued at $243,000 after purchasing an additional 284 shares during the period. Moody National Bank Trust Division lifted its stake in shares of FirstEnergy by 3.9% in the third quarter. Moody National Bank Trust Division now owns 7,947 shares of the utilities provider’s stock worth $294,000 after buying an additional 299 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its stake in shares of FirstEnergy by 12.2% in the third quarter. CENTRAL TRUST Co now owns 3,127 shares of the utilities provider’s stock worth $115,000 after buying an additional 340 shares in the last quarter. 81.80% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Price Performance

Shares of FE opened at $41.20 on Friday. FirstEnergy Corp. has a fifty-two week low of $35.32 and a fifty-two week high of $48.85. The company has a market capitalization of $23.58 billion, a price-to-earnings ratio of 58.03, a price-to-earnings-growth ratio of 2.58 and a beta of 0.44. The firm has a 50-day simple moving average of $39.89 and a 200-day simple moving average of $39.83. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.50 and a current ratio of 0.61.

FirstEnergy (NYSE:FE – Get Rating) last issued its earnings results on Monday, February 13th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.03). FirstEnergy had a net margin of 3.26% and a return on equity of 13.16%. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $2.45 billion. During the same period last year, the business posted $0.51 earnings per share. The company’s quarterly revenue was up 18.5% on a year-over-year basis. On average, equities research analysts anticipate that FirstEnergy Corp. will post 2.51 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Stockholders of record on Friday, May 5th will be paid a dividend of $0.39 per share. The ex-dividend date of this dividend is Thursday, May 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.79%. FirstEnergy’s dividend payout ratio (DPR) is 219.72%.

Analysts Set New Price Targets

FE has been the topic of a number of analyst reports. Morgan Stanley reduced their target price on shares of FirstEnergy from $47.00 to $44.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 21st. JPMorgan Chase & Co. reduced their target price on shares of FirstEnergy from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Friday, March 10th. Mizuho reduced their target price on shares of FirstEnergy from $42.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 28th. Bank of America downgraded shares of FirstEnergy from a “neutral” rating to an “underperform” rating and reduced their target price for the stock from $41.00 to $38.00 in a research note on Monday, January 23rd. Finally, Guggenheim raised shares of FirstEnergy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $34.00 to $46.00 in a research note on Monday, January 23rd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $43.33.

FirstEnergy Company Profile

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FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate or Other.

Further Reading

Institutional Ownership by Quarter for FirstEnergy (NYSE:FE)

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