Kiker Wealth Management LLC Invests $661,000 in FirstEnergy Corporation $FE

Kiker Wealth Management LLC purchased a new stake in FirstEnergy Corporation (NYSE:FE) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,422 shares of the utilities provider’s stock, valued at approximately $661,000.

A number of other institutional investors also recently modified their holdings of the business. Federated Hermes Inc. raised its holdings in FirstEnergy by 198.1% during the 2nd quarter. Federated Hermes Inc. now owns 6,888,967 shares of the utilities provider’s stock valued at $277,350,000 after acquiring an additional 4,578,375 shares during the period. Vanguard Group Inc. lifted its holdings in FirstEnergy by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 66,988,086 shares of the utilities provider’s stock worth $2,696,940,000 after purchasing an additional 837,872 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in FirstEnergy by 82.2% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,326,830 shares of the utilities provider’s stock worth $53,418,000 after purchasing an additional 598,732 shares during the period. Raymond James Financial Inc. grew its holdings in FirstEnergy by 47.7% during the 2nd quarter. Raymond James Financial Inc. now owns 1,779,517 shares of the utilities provider’s stock valued at $71,643,000 after buying an additional 574,396 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of FirstEnergy by 8.6% during the second quarter. Legal & General Group Plc now owns 4,715,098 shares of the utilities provider’s stock valued at $189,830,000 after buying an additional 374,053 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Trading Up 0.2%

Shares of FE stock opened at $44.75 on Tuesday. The business has a 50-day moving average price of $45.44 and a two-hundred day moving average price of $44.26. FirstEnergy Corporation has a 12-month low of $37.58 and a 12-month high of $48.20. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.80. The firm has a market cap of $25.85 billion, a P/E ratio of 19.54, a price-to-earnings-growth ratio of 2.55 and a beta of 0.64.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.07. The company had revenue of $4.15 billion for the quarter, compared to analysts’ expectations of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.FirstEnergy’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period last year, the firm posted $0.85 EPS. Equities analysts anticipate that FirstEnergy Corporation will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Sunday, March 1st. Investors of record on Friday, February 6th will be issued a dividend of $0.445 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $1.78 annualized dividend and a dividend yield of 4.0%. FirstEnergy’s dividend payout ratio (DPR) is currently 77.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. KeyCorp lowered shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 14th. Mizuho raised their price target on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group boosted their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research report on Tuesday, October 21st. Citigroup assumed coverage on FirstEnergy in a research report on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price objective on the stock. Finally, UBS Group reduced their target price on FirstEnergy from $49.00 to $46.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, FirstEnergy has a consensus rating of “Moderate Buy” and an average target price of $48.75.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.