FirstEnergy Corp. (FE) Receives $42.86 Consensus PT from Brokerages

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FirstEnergy Corp. (NYSE:FE) has received a consensus recommendation of “Buy” from the nine research firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $42.86.

Several research analysts have commented on the stock. Zacks Investment Research lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Wednesday, April 17th. Bank of America upped their price objective on shares of FirstEnergy from $41.00 to $46.00 and gave the stock a “buy” rating in a report on Thursday, March 28th. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $40.00 to $46.00 in a report on Wednesday, March 20th. Finally, Morgan Stanley set a $44.00 price target on shares of FirstEnergy and gave the stock a “buy” rating in a research note on Friday, April 5th.

In related 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 value of $1,008,452.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by company insiders.

Several institutional investors have recently modified their holdings of the stock. Lake Point Wealth Management purchased a new stake in FirstEnergy during the 4th quarter valued at about $25,000. Cresset Asset Management LLC purchased a new stake in FirstEnergy during the 1st quarter valued at about $28,000. Zions Bancorporation N.A. purchased a new stake in FirstEnergy during the 1st quarter valued at about $30,000. Legacy Advisors LLC purchased a new stake in FirstEnergy during the 1st quarter valued at about $33,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in FirstEnergy during the 4th quarter valued at about $34,000. Institutional investors own 93.82% of the company’s stock.

Shares of NYSE FE opened at $42.86 on Friday. The company has a debt-to-equity ratio of 2.72, a current ratio of 0.54 and a quick ratio of 0.47. FirstEnergy has a 12 month low of $32.92 and a 12 month high of $43.24. The firm has a market capitalization of $22.78 billion, a price-to-earnings ratio of 16.55, a P/E/G ratio of 2.76 and a beta of 0.30.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a return on equity of 21.90% and a net margin of 2.63%. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter last year, the company posted $0.67 earnings per share. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. Equities research analysts expect that FirstEnergy will post 2.59 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a $0.38 dividend. The ex-dividend date is Monday, May 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.55%. FirstEnergy’s payout ratio is 58.69%.

FirstEnergy Company Profile

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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