FirstEnergy (FE) Hits New 52-Week High at $41.78

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FirstEnergy Corp. (NYSE:FE) shares reached a new 52-week high during trading on Wednesday . The company traded as high as $41.78 and last traded at $41.57, with a volume of 773954 shares trading hands. The stock had previously closed at $41.58.

A number of brokerages have recently issued reports on FE. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 price objective on the stock in a research note on Monday, March 4th. Morgan Stanley set a $38.00 price objective on FirstEnergy and gave the company a “buy” rating in a research note on Thursday, December 20th. Finally, Barclays raised their price objective on FirstEnergy from $39.00 to $40.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $41.14.

The company has a market cap of $22.06 billion, a PE ratio of 15.91 and a beta of 0.30. The company has a quick ratio of 0.46, a current ratio of 0.52 and a debt-to-equity ratio of 2.63.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.47 by $0.03. FirstEnergy had a return on equity of 21.13% and a net margin of 10.41%. The firm had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.67 billion. During the same period last year, the firm earned $0.71 earnings per share. As a group, equities analysts predict that FirstEnergy Corp. will post 2.56 EPS for the current fiscal year.

In other news, EVP Leila L. Vespoli sold 24,400 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $41.33, for a total transaction of $1,008,452.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP James F. Pearson sold 40,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $37.87, for a total transaction of $1,514,800.00. The disclosure for this sale can be found here. Corporate insiders own 0.27% of the company’s stock.

Several institutional investors have recently bought and sold shares of FE. BlackRock Inc. lifted its holdings in FirstEnergy by 0.6% in the fourth quarter. BlackRock Inc. now owns 59,070,063 shares of the utilities provider’s stock worth $2,218,080,000 after buying an additional 331,380 shares during the period. Vanguard Group Inc. lifted its holdings in FirstEnergy by 4.4% in the third quarter. Vanguard Group Inc. now owns 58,780,161 shares of the utilities provider’s stock worth $2,184,859,000 after buying an additional 2,480,578 shares during the period. Vanguard Group Inc lifted its holdings in FirstEnergy by 4.4% in the third quarter. Vanguard Group Inc now owns 58,780,161 shares of the utilities provider’s stock worth $2,184,859,000 after buying an additional 2,480,578 shares during the period. Renaissance Technologies LLC lifted its holdings in FirstEnergy by 2.5% in the third quarter. Renaissance Technologies LLC now owns 12,312,308 shares of the utilities provider’s stock worth $457,648,000 after buying an additional 304,900 shares during the period. Finally, FMR LLC lifted its holdings in FirstEnergy by 15.9% in the fourth quarter. FMR LLC now owns 10,979,972 shares of the utilities provider’s stock worth $412,298,000 after buying an additional 1,509,442 shares during the period. Institutional investors own 94.49% of the company’s stock.

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About FirstEnergy (NYSE:FE)

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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