FirstEnergy Corp. (NYSE:FE) had its target price trimmed by Royal Bank Of Canada from $38.00 to $36.00 in a research note published on Thursday. The brokerage currently has a sector perform rating on the stock.
Other equities research analysts have also recently issued research reports about the company. Morgan Stanley raised FirstEnergy Corp. from an equal weight rating to an overweight rating and boosted their target price for the stock from $38.00 to $41.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Bank of America Corp. raised FirstEnergy Corp. from a neutral rating to a buy rating and dropped their target price for the stock from $41.00 to $40.00 in a report on Monday, August 8th. Barclays PLC raised FirstEnergy Corp. from an equal weight rating to an overweight rating and set a $37.00 target price on the stock in a report on Thursday, October 13th. Jefferies Group boosted their target price on FirstEnergy Corp. from $35.00 to $36.00 and gave the stock a hold rating in a report on Thursday, July 7th. Finally, Goldman Sachs Group Inc. cut FirstEnergy Corp. from a neutral rating to a sell rating and dropped their target price for the stock from $36.00 to $31.00 in a report on Tuesday, July 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the stock. FirstEnergy Corp. presently has an average rating of Hold and a consensus price target of $35.97.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.23 on Thursday. FirstEnergy Corp. has a 1-year low of $28.89 and a 1-year high of $36.60. The firm’s 50-day moving average price is $32.77 and its 200 day moving average price is $33.74. The stock’s market capitalization is $13.70 billion.
FirstEnergy Corp. (NYSE:FE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.05% and a negative net margin of 3.96%. During the same quarter in the previous year, the firm earned $0.53 EPS. Analysts expect that FirstEnergy Corp. will post $2.54 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s payout ratio is -103.60%.
Several institutional investors have recently bought and sold shares of the stock. Adage Capital Partners GP L.L.C. boosted its position in FirstEnergy Corp. by 5.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 2,140,851 shares of the company’s stock valued at $77,006,000 after buying an additional 110,916 shares in the last quarter. Credit Agricole S A boosted its position in FirstEnergy Corp. by 45.0% in the first quarter. Credit Agricole S A now owns 347,906 shares of the company’s stock valued at $12,514,000 after buying an additional 107,893 shares in the last quarter. Quadrature Capital Ltd bought a new position in FirstEnergy Corp. during the first quarter valued at approximately $596,000. Acadian Asset Management LLC boosted its position in FirstEnergy Corp. by 324.8% in the second quarter. Acadian Asset Management LLC now owns 28,054 shares of the company’s stock valued at $980,000 after buying an additional 21,450 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in FirstEnergy Corp. by 6.3% in the first quarter. Geode Capital Management LLC now owns 3,704,869 shares of the company’s stock valued at $133,012,000 after buying an additional 219,805 shares in the last quarter. Institutional investors and hedge funds own 75.86% of the company’s stock.
About FirstEnergy Corp.
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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