FirstEnergy (NYSE:FE) Given New $46.00 Price Target at Mizuho

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FirstEnergy (NYSE:FE) had its target price lowered by Mizuho from $48.00 to $46.00 in a research report sent to investors on Tuesday, BenzingaRatingsTable reports. The brokerage currently has a buy rating on the utilities provider’s stock.

FE has been the topic of several other research reports. TheStreet lowered FirstEnergy from a b rating to a f rating in a report on Thursday, July 18th. KeyCorp reaffirmed an overweight rating and set a $46.00 price objective on shares of FirstEnergy in a report on Wednesday, June 5th. Finally, Zacks Investment Research lowered FirstEnergy from a hold rating to a sell rating and set a $45.00 price objective on the stock. in a report on Tuesday, July 2nd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating to the stock. FirstEnergy currently has a consensus rating of Buy and an average target price of $44.00.

NYSE:FE opened at $44.18 on Tuesday. The stock has a market capitalization of $23.52 billion, a price-to-earnings ratio of 17.06, a PEG ratio of 2.95 and a beta of 0.27. The company has a fifty day simple moving average of $43.68. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 2.63. FirstEnergy has a 12 month low of $35.33 and a 12 month high of $44.75.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.60 by $0.01. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.66 billion. FirstEnergy had a return on equity of 20.29% and a net margin of 2.79%. FirstEnergy’s revenue for the quarter was down 3.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.62 earnings per share. On average, equities research analysts anticipate that FirstEnergy will post 2.5 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Tuesday, August 6th. FirstEnergy’s payout ratio is 58.69%.

In other FirstEnergy news, Director Christopher D. Pappas bought 3,000 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was acquired at an average price of $41.14 per share, for a total transaction of $123,420.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.32% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Northern Trust Corp boosted its stake in shares of FirstEnergy by 1.0% during the second quarter. Northern Trust Corp now owns 6,396,594 shares of the utilities provider’s stock worth $273,838,000 after buying an additional 62,001 shares during the period. Geode Capital Management LLC boosted its stake in shares of FirstEnergy by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 6,393,048 shares of the utilities provider’s stock worth $239,645,000 after buying an additional 382,694 shares during the period. Magellan Asset Management Ltd boosted its stake in shares of FirstEnergy by 880.7% during the second quarter. Magellan Asset Management Ltd now owns 4,139,429 shares of the utilities provider’s stock worth $177,209,000 after buying an additional 3,717,332 shares during the period. Pictet Asset Management Ltd. boosted its stake in shares of FirstEnergy by 19.8% during the second quarter. Pictet Asset Management Ltd. now owns 4,110,508 shares of the utilities provider’s stock worth $175,971,000 after buying an additional 678,482 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of FirstEnergy by 0.5% during the second quarter. Jennison Associates LLC now owns 3,424,311 shares of the utilities provider’s stock worth $146,595,000 after buying an additional 16,508 shares during the period. Institutional investors and hedge funds own 93.57% of the company’s stock.

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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