Shares of FirstEnergy Corp. (NYSE:FE) have received a consensus recommendation of “Buy” from the eighteen analysts that are covering the stock, MarketBeat reports. Nine research analysts have rated the stock with a hold rating and nine have issued a buy rating on the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $36.00.
A number of analysts have weighed in on the company. Wolfe Research raised FirstEnergy from a “peer perform” rating to an “outperform” rating in a research report on Monday, January 29th. Zacks Investment Research raised FirstEnergy from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Mizuho reiterated a “hold” rating and issued a $32.00 price objective on shares of FirstEnergy in a research note on Tuesday, January 30th. Citigroup dropped their price objective on FirstEnergy from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $47.00 price objective on shares of FirstEnergy in a research note on Wednesday, January 3rd.
Several institutional investors have recently bought and sold shares of FE. Baker Ellis Asset Management LLC bought a new position in FirstEnergy during the fourth quarter valued at about $122,000. Tower Research Capital LLC TRC increased its stake in 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 acquiring an additional 3,714 shares during the period. Commerzbank Aktiengesellschaft FI bought a new position in FirstEnergy during the fourth quarter valued at about $228,000. Farmers Trust Co. bought a new position in FirstEnergy during the fourth quarter valued at about $251,000. Finally, Steward Partners Investment Advisory LLC increased its stake in FirstEnergy by 352.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,673 shares of the utilities provider’s stock valued at $265,000 after acquiring an additional 6,756 shares during the period. Institutional investors and hedge funds own 78.74% of the company’s stock.
FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, February 20th. The utilities provider reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.03. FirstEnergy had a positive return on equity of 24.02% and a negative net margin of 12.30%. The company had revenue of $3.40 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the firm earned $0.38 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. equities analysts forecast that FirstEnergy will post 2.39 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.27%. FirstEnergy’s payout ratio is presently -37.11%.
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FirstEnergy Company Profile
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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