FirstEnergy Corp. (NYSE:FE) – Stock analysts at Jefferies Group lifted their FY2017 earnings per share estimates for FirstEnergy Corp. in a research note issued to investors on Tuesday. Jefferies Group analyst A. Crowdell now expects that the brokerage will earn $2.80 per share for the year, up from their prior forecast of $2.60. Jefferies Group currently has a “Hold” rating and a $34.00 target price on the stock. Jefferies Group also issued estimates for FirstEnergy Corp.’s FY2019 earnings at $2.50 EPS.
FirstEnergy Corp. (NYSE:FE) last announced its earnings results on Thursday, July 28th. The company reported $0.56 EPS for the quarter, topping the consensus estimate 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 in the prior year, the firm posted $0.53 EPS.
Other research analysts have also recently issued research reports about the stock. Tudor Pickering cut shares of FirstEnergy Corp. from a “hold” rating to a “sell” rating in a report on Wednesday. Barclays PLC set a $36.00 price target on shares of FirstEnergy Corp. and gave the company a “hold” rating in a report on Saturday, September 17th. Goldman Sachs Group Inc. cut shares of FirstEnergy Corp. from a “neutral” rating to a “sell” rating and reduced their price target for the company from $36.00 to $31.00 in a report on Tuesday, July 26th. Bank of America Corp. upgraded shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and reduced their price target for the company from $41.00 to $40.00 in a report on Monday, August 8th. Finally, Morgan Stanley upgraded shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and upped their price target 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. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.97.
Shares of FirstEnergy Corp. (NYSE:FE) traded down 0.03% on Wednesday, reaching $33.15. 4,466,916 shares of the company traded hands. The stock has a 50 day moving average of $32.78 and a 200 day moving average of $33.72. The stock’s market cap is $14.10 billion. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60.
The firm 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 dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio is -103.60%.
Institutional investors have recently added to or reduced their stakes in the company. Adage Capital Partners GP L.L.C. raised 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 worth $77,006,000 after buying an additional 110,916 shares in the last quarter. Credit Agricole S A raised 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 worth $12,514,000 after buying an additional 107,893 shares in the last quarter. Quadrature Capital Ltd acquired a new position in FirstEnergy Corp. during the first quarter worth approximately $596,000. Acadian Asset Management LLC raised 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 worth $980,000 after buying an additional 21,450 shares in the last quarter. Finally, Geode Capital Management LLC raised 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 worth $133,012,000 after buying an additional 219,805 shares in the last quarter. 75.86% of the stock is currently owned by institutional investors and hedge funds.
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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