FirstEnergy Corp. (NYSE:FE) was upgraded by equities research analysts at Evercore ISI from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, The Fly reports.
Other equities analysts have also issued research reports about the stock. Bank of America Corp. raised shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and cut their price objective for the company from $41.00 to $40.00 in a research report on Monday, August 8th. Barclays PLC set a $36.00 price objective on shares of FirstEnergy Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Jefferies Group restated a “hold” rating and issued a $36.00 target price on shares of FirstEnergy Corp. in a report on Tuesday, August 16th. RBC Capital Markets restated a “hold” rating and issued a $36.00 target price (down from $38.00) on shares of FirstEnergy Corp. in a report on Thursday, October 13th. Finally, Citigroup Inc. upgraded shares of FirstEnergy Corp. from a “sell” rating to a “neutral” rating in a report on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $36.10.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.23 on Tuesday. The firm’s market capitalization is $13.70 billion. FirstEnergy Corp. has a 12-month low of $28.89 and a 12-month high of $36.60. The firm’s 50-day moving average is $32.77 and its 200-day moving average is $33.74.
FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates of $0.54 by $0.02. FirstEnergy Corp. had a negative net margin of 3.96% and a positive return on equity of 10.05%. During the same period last year, the firm earned $0.53 earnings per share. Equities research analysts forecast that FirstEnergy Corp. will post $2.54 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 annualized dividend and a yield of 4.47%. FirstEnergy Corp.’s dividend payout ratio is presently -103.60%.
Hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd bought a new stake in FirstEnergy Corp. during the first quarter valued at about $596,000. UBS Asset Management Americas Inc. boosted its stake in FirstEnergy Corp. by 4.9% in the first quarter. UBS Asset Management Americas Inc. now owns 1,387,682 shares of the company’s stock valued at $49,914,000 after buying an additional 65,344 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in FirstEnergy Corp. by 278.2% in the first quarter. Meeder Asset Management Inc. now owns 32,074 shares of the company’s stock valued at $1,154,000 after buying an additional 23,593 shares in the last quarter. Rafferty Asset Management LLC bought a new stake in FirstEnergy Corp. during the first quarter valued at about $511,000. Finally, State Street Corp boosted its stake in FirstEnergy Corp. by 5.9% in the first quarter. State Street Corp now owns 32,867,132 shares of the company’s stock valued at $1,182,229,000 after buying an additional 1,831,146 shares in the last quarter. 75.86% of the stock is currently owned by hedge funds and other institutional investors.
FirstEnergy Corp. Company Profile
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.
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