Old North State Trust LLC Sells 2,754 Shares of FirstEnergy Corp. (NYSE:FE)

Posted by Defense World Staff on Sep 15th, 2023

Old North State Trust LLC lessened its position in FirstEnergy Corp. (NYSE:FE – Free Report) by 98.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40 shares of the utilities provider’s stock after selling 2,754 shares during the quarter. Old North State Trust LLC’s holdings in FirstEnergy were worth $112,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GW&K Investment Management LLC boosted its holdings in shares of FirstEnergy by 159.2% during the 4th quarter. GW&K Investment Management LLC now owns 635 shares of the utilities provider’s stock valued at $27,000 after buying an additional 390 shares in the last quarter. Clear Street Markets LLC grew its holdings in FirstEnergy by 549.0% in the fourth quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 549 shares during the period. Certified Advisory Corp purchased a new stake in FirstEnergy in the first quarter worth about $29,000. Householder Group Estate & Retirement Specialist LLC bought a new position in shares of FirstEnergy during the first quarter valued at approximately $30,000. Finally, MUFG Americas Holdings Corp purchased a new position in shares of FirstEnergy during the third quarter valued at approximately $32,000. 82.34% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on FE shares. Barclays started coverage on FirstEnergy in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $37.00 price target on the stock. UBS Group cut FirstEnergy from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $45.00 to $40.00 in a research note on Monday, August 7th. TheStreet cut FirstEnergy from a “b” rating to a “c+” rating in a research report on Friday, August 4th. Morgan Stanley decreased their target price on FirstEnergy from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 23rd. Finally, Guggenheim reduced their price target on shares of FirstEnergy from $46.00 to $44.00 in a research note on Friday, July 7th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $41.40.

Read Our Latest Analysis on FirstEnergy

FirstEnergy Stock Performance

Shares of NYSE FE opened at $36.89 on Friday. FirstEnergy Corp. has a 12-month low of $34.69 and a 12-month high of $43.31. The firm has a market capitalization of $21.15 billion, a price-to-earnings ratio of 46.70, a price-to-earnings-growth ratio of 2.18 and a beta of 0.45. The company has a current ratio of 0.60, a quick ratio of 0.49 and a debt-to-equity ratio of 2.07. The firm has a 50 day moving average of $37.35 and a 200 day moving average of $38.59.

FirstEnergy (NYSE:FE – Get Free Report) last issued its quarterly earnings data on Tuesday, August 1st. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.89 billion. FirstEnergy had a net margin of 3.55% and a return on equity of 12.41%. On average, research analysts anticipate that FirstEnergy Corp. will post 2.53 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Monday, August 7th were paid a dividend of $0.39 per share. The ex-dividend date of this dividend was Friday, August 4th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.23%. FirstEnergy’s dividend payout ratio (DPR) is presently 197.47%.

FirstEnergy Profile

(Free Report)

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.