FirstEnergy Corporation $FE Shares Sold by Lumbard & Kellner LLC

Lumbard & Kellner LLC reduced its stake in FirstEnergy Corporation by 85.5% in Q2, selling 55,954 shares. The firm's holdings are now valued at $382,000. FirstEnergy's stock opened at $47.69, with a market cap of $27.55 billion. Analysts predict a 2.66 EPS for the year, and the company announced a quarterly dividend of $0.445 per share. Several analysts have issued ratings, including a strong-buy from Wells Fargo & Company.

Lumbard & Kellner LLC lowered its stake in shares of FirstEnergy Corporation (NYSE:FE - Free Report) by 85.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,485 shares of the utilities provider's stock after selling 55,954 shares during the period. Lumbard & Kellner LLC's holdings in FirstEnergy were worth $382,000 as of its most recent filing with the Securities & Exchange Commission.

Powering Profits: Utility Stocks That Shine in Volatility

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FE. Brighton Jones LLC purchased a new stake in FirstEnergy during the 4th quarter worth approximately $256,000. LPL Financial LLC boosted its stake in shares of FirstEnergy by 94.6% in the first quarter. LPL Financial LLC now owns 555,611 shares of the utilities provider's stock worth $22,458,000 after acquiring an additional 270,033 shares during the last quarter. Arkadios Wealth Advisors increased its position in shares of FirstEnergy by 167.3% during the first quarter. Arkadios Wealth Advisors now owns 13,573 shares of the utilities provider's stock worth $549,000 after purchasing an additional 8,495 shares in the last quarter. Natixis Advisors LLC raised its stake in FirstEnergy by 11.5% in the 1st quarter. Natixis Advisors LLC now owns 149,052 shares of the utilities provider's stock valued at $6,025,000 after purchasing an additional 15,357 shares during the last quarter. Finally, US Bancorp DE raised its stake in FirstEnergy by 8.9% in the 1st quarter. US Bancorp DE now owns 43,843 shares of the utilities provider's stock valued at $1,772,000 after purchasing an additional 3,587 shares during the last quarter. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Stock Up 0.7%

Shares of NYSE FE opened at $47.69 on Monday. The company has a market capitalization of $27.55 billion, a P/E ratio of 20.83, a P/E/G ratio of 2.80 and a beta of 0.53. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51. The company has a 50 day simple moving average of $46.27 and a 200-day simple moving average of $43.44. FirstEnergy Corporation has a 1 year low of $37.58 and a 1 year high of $48.20.

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FirstEnergy (NYSE:FE - Get Free Report) last issued its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.07. The company had revenue of $4.15 billion during the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The firm's revenue for the quarter was up 10.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. On average, equities research analysts predict that FirstEnergy Corporation will post 2.66 earnings per share for the current year.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.7%. The ex-dividend date of this dividend is Friday, November 7th. FirstEnergy's dividend payout ratio (DPR) is presently 77.73%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FE shares. Weiss Ratings reaffirmed a "buy (b)" rating on shares of FirstEnergy in a report on Wednesday, October 8th. Scotiabank boosted their price target on shares of FirstEnergy from $49.00 to $51.00 and gave the stock a "sector outperform" rating in a research report on Friday, October 24th. Wells Fargo & Company raised shares of FirstEnergy to a "strong-buy" rating in a research note on Tuesday, October 28th. Jefferies Financial Group increased their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "hold" rating in a report on Tuesday, October 21st. Finally, UBS Group boosted their target price on FirstEnergy from $47.00 to $50.00 and gave the stock a "neutral" rating in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $49.08.

Read Our Latest Research Report on FE

FirstEnergy Company 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.

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