Barclays PLC upgraded shares of FirstEnergy Corp. (NYSE:FE) from an equal weight rating to an overweight rating in a research note published on Thursday. They currently have $37.00 price target on the stock.
A number of other equities analysts have also recently commented on the company. Jefferies Group reissued a hold rating and set a $36.00 target price on shares of FirstEnergy Corp. in a report on Tuesday, August 16th. Bank of America Corp. raised FirstEnergy Corp. from a neutral rating to a buy rating and reduced their target price for the company from $41.00 to $40.00 in a report on Monday, August 8th. Morgan Stanley raised FirstEnergy Corp. from an equal weight rating to an overweight rating and increased their target price for the company from $38.00 to $41.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Goldman Sachs Group Inc. cut FirstEnergy Corp. from a neutral rating to a sell rating and reduced their target price for the company from $36.00 to $31.00 in a report on Tuesday, July 26th. Finally, Citigroup Inc. increased their target price on FirstEnergy Corp. from $28.00 to $31.00 and gave the company a sell rating in a report on Wednesday, July 20th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and eight have assigned a buy rating to the company. FirstEnergy Corp. currently has an average rating of Hold and an average target price of $35.97.
FirstEnergy Corp. (NYSE:FE) opened at 32.23 on Thursday. FirstEnergy Corp. has a 12-month low of $28.89 and a 12-month high of $36.60. The company’s 50-day moving average price is $32.77 and its 200-day moving average price is $33.74. The stock’s market cap is $13.70 billion.
FirstEnergy Corp. (NYSE:FE) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the company earned $0.53 EPS. On average, equities analysts expect 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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is presently -103.60%.
A number of institutional investors have recently modified their holdings of FE. Signature Estate & Investment Advisors LLC bought a new position in shares of FirstEnergy Corp. during the second quarter valued at about $126,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its stake in shares of FirstEnergy Corp. by 19.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,700 shares of the company’s stock worth $129,000 after buying an additional 600 shares in the last quarter. Assetmark Inc. raised its stake in shares of FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock worth $141,000 after buying an additional 3,714 shares in the last quarter. Checchi Capital Advisers LLC raised its stake in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock worth $160,000 after buying an additional 281 shares in the last quarter. Finally, City Holding Co. raised its stake in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock worth $170,000 after buying an additional 782 shares in the last quarter. Hedge funds and other institutional investors 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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