A number of other equities research analysts also recently issued reports on the company. Zacks Investment Research upgraded FirstEnergy from a hold rating to a buy rating and set a $34.00 price objective on the stock in a research report on Tuesday, January 2nd. Wolfe Research upgraded FirstEnergy from a peer perform rating to an outperform rating in a research report on Monday, January 29th. Bank of America upgraded FirstEnergy from a neutral rating to a buy rating and increased their price objective for the stock from $32.09 to $36.00 in a research report on Friday, January 26th. Guggenheim reiterated a buy rating and issued a $47.00 price objective on shares of FirstEnergy in a research report on Wednesday, January 3rd. Finally, ValuEngine upgraded FirstEnergy from a hold rating to a buy rating in a research report on Wednesday, November 15th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of Buy and an average target price of $35.29.
Shares of FirstEnergy (FE) opened at $32.65 on Thursday. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.76 and a quick ratio of 0.65. FirstEnergy has a 12-month low of $27.93 and a 12-month high of $35.22. The stock has a market capitalization of $15,528.01, a price-to-earnings ratio of -8.41, a P/E/G ratio of 13.51 and a beta of 0.34.
The company also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Wednesday, February 7th were paid a $0.36 dividend. The ex-dividend date was Tuesday, February 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.41%. FirstEnergy’s dividend payout ratio is presently -37.11%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Baker Ellis Asset Management LLC bought a new position in shares of FirstEnergy during the fourth quarter valued at about $122,000. Tower Research Capital LLC TRC grew its stake in shares of FirstEnergy by 344.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock valued at $147,000 after buying an additional 3,714 shares during the last quarter. Tiedemann Wealth Management LLC grew its stake in shares of FirstEnergy by 170.5% during the third quarter. Tiedemann Wealth Management LLC now owns 22,408 shares of the utilities provider’s stock valued at $171,000 after buying an additional 14,123 shares during the last quarter. IBM Retirement Fund bought a new position in shares of FirstEnergy during the third quarter valued at about $204,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of FirstEnergy during the fourth quarter valued at about $228,000. 78.75% of the stock is currently owned by institutional investors and hedge funds.
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FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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