USA Financial Formulas Sells 18,750 Shares of FirstEnergy Corporation $FE

USA Financial Formulas trimmed its position in shares of FirstEnergy Corporation (NYSE:FE) by 92.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,496 shares of the utilities provider’s stock after selling 18,750 shares during the period. USA Financial Formulas’ holdings in FirstEnergy were worth $76,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FE. Bryn Mawr Trust Advisors LLC bought a new stake in shares of FirstEnergy in the second quarter valued at approximately $9,878,000. JFS Wealth Advisors LLC grew its stake in shares of FirstEnergy by 7.3% in the second quarter. JFS Wealth Advisors LLC now owns 4,564 shares of the utilities provider’s stock worth $217,000 after acquiring an additional 311 shares during the last quarter. Tema ETFs LLC increased its position in FirstEnergy by 9.8% during the second quarter. Tema ETFs LLC now owns 11,355 shares of the utilities provider’s stock worth $540,000 after acquiring an additional 1,015 shares during the period. Fulton Bank N.A. increased its position in FirstEnergy by 5.0% during the second quarter. Fulton Bank N.A. now owns 79,670 shares of the utilities provider’s stock worth $3,788,000 after acquiring an additional 3,792 shares during the period. Finally, First Bank & Trust raised its stake in FirstEnergy by 14.7% during the 2nd quarter. First Bank & Trust now owns 42,560 shares of the utilities provider’s stock valued at $2,023,000 after purchasing an additional 5,467 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on FE. Jefferies Financial Group raised their price target on shares of FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a research report on Wednesday, June 17th. Wolfe Research cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. TD Cowen upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and reduced their target price for the company from $56.00 to $53.00 in a research note on Friday, May 15th. Finally, Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research report on Wednesday, July 22nd. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $52.83.

FirstEnergy Price Performance

NYSE:FE opened at $47.42 on Monday. The company has a 50-day moving average of $47.85 and a 200-day moving average of $48.32. The company has a market capitalization of $27.44 billion, a price-to-earnings ratio of 25.22, a PEG ratio of 2.27 and a beta of 0.46. FirstEnergy Corporation has a 52 week low of $42.72 and a 52 week high of $52.34. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, meeting the consensus estimate of $0.50. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.51 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. During the same period in the previous year, the business earned $0.52 EPS. As a group, equities research analysts anticipate that FirstEnergy Corporation will post 2.74 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Shareholders of record on Friday, August 7th will be paid a dividend of $0.465 per share. The ex-dividend date is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a yield of 3.9%. FirstEnergy’s dividend payout ratio (DPR) is currently 98.94%.

FirstEnergy Profile

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.