FirstEnergy (FE) Stock Rating Upgraded by Barclays

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Barclays upgraded shares of FirstEnergy (NYSE:FE) from an equal weight rating to an overweight rating in a report issued on Wednesday morning, Marketbeat reports. They currently have $46.00 price target on the utilities provider’s stock, up from their prior price target of $40.00.

Several other analysts have also recently commented on FE. Morgan Stanley upped their target price on FirstEnergy from $41.00 to $43.00 and gave the company an overweight rating in a report on Tuesday, February 12th. Zacks Investment Research upgraded FirstEnergy from a hold rating to a buy rating and set a $43.00 target price on the stock in a report on Friday, January 11th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The company currently has an average rating of Buy and a consensus target price of $42.00.

NYSE:FE opened at $41.77 on Wednesday. The stock has a market cap of $22.14 billion, a PE ratio of 16.13 and a beta of 0.30. The company has a current ratio of 0.52, a quick ratio of 0.46 and a debt-to-equity ratio of 2.63. FirstEnergy has a 1-year low of $32.92 and a 1-year high of $42.00.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, February 19th. The utilities provider reported $0.50 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The company had revenue of $2.71 billion for the quarter, compared to analysts’ expectations of $2.67 billion. FirstEnergy had a return on equity of 21.13% and a net margin of 10.41%. During the same period in the previous year, the business posted $0.71 earnings per share. As a group, sell-side analysts anticipate that FirstEnergy will post 2.56 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.64%. The ex-dividend date is Monday, May 6th. FirstEnergy’s payout ratio is presently 58.69%.

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

Institutional investors and hedge funds have recently modified their holdings of the business. Lake Point Wealth Management acquired a new position in FirstEnergy in the fourth quarter valued at approximately $25,000. Whittier Trust Co. of Nevada Inc. acquired a new position in FirstEnergy in the fourth quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC lifted its stake in FirstEnergy by 98.4% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock valued at $50,000 after buying an additional 666 shares during the period. Kaizen Advisory LLC lifted its stake in FirstEnergy by 23.6% in the fourth quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock valued at $50,000 after buying an additional 254 shares during the period. Finally, Capital Investment Advisory Services LLC acquired a new position in FirstEnergy in the fourth quarter valued at approximately $52,000. 90.86% of the stock is currently owned by hedge funds and other institutional investors.

About FirstEnergy

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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Analyst Recommendations for FirstEnergy (NYSE:FE)

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