FirstEnergy (NYSE:FE) Trading 6.9% Higher

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FirstEnergy Corp. (NYSE:FE)’s share price traded up 6.9% on Tuesday . The stock traded as high as $36.02 and last traded at $35.48, 5,400,100 shares traded hands during trading. An increase of 20% from the average session volume of 4,489,742 shares. The stock had previously closed at $33.19.

Several analysts have commented on FE shares. JPMorgan Chase & Co. lifted their price objective on shares of FirstEnergy from $51.00 to $54.00 and gave the stock a “neutral” rating in a research report on Monday, February 24th. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $44.00 price objective on the stock in a research report on Monday, March 16th. Citigroup lifted their price objective on shares of FirstEnergy from $49.00 to $50.00 and gave the stock a “neutral” rating in a research report on Thursday, January 16th. Bank of America raised shares of FirstEnergy from a “neutral” rating to a “buy” rating and set a $47.00 price objective on the stock in a research report on Tuesday, March 10th. Finally, Morgan Stanley raised shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and lowered their price objective for the stock from $50.00 to $41.00 in a research report on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The company has an average rating of “Buy” and an average price target of $49.67.

The company has a debt-to-equity ratio of 2.81, a quick ratio of 0.44 and a current ratio of 0.50. The firm has a market cap of $18.36 billion, a PE ratio of 20.88 and a beta of 0.42. The stock’s 50 day simple moving average is $46.06 and its 200 day simple moving average is $47.58.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Friday, February 7th. The utilities provider reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.48 by $0.07. FirstEnergy had a net margin of 8.26% and a return on equity of 19.57%. The business had revenue of $2.67 billion during the quarter, compared to analysts’ expectations of $2.74 billion. During the same quarter in the previous year, the company earned $0.50 EPS. As a group, analysts anticipate that FirstEnergy Corp. will post 2.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Thursday, May 7th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.39%. FirstEnergy’s dividend payout ratio (DPR) is 60.47%.

Several institutional investors have recently made changes to their positions in FE. Parkside Financial Bank & Trust raised its holdings in FirstEnergy by 54.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 621 shares of the utilities provider’s stock valued at $30,000 after buying an additional 218 shares during the last quarter. Riggs Asset Managment Co. Inc. raised its holdings in FirstEnergy by 15.4% during the 4th quarter. Riggs Asset Managment Co. Inc. now owns 1,789 shares of the utilities provider’s stock valued at $87,000 after buying an additional 239 shares during the last quarter. Crabel Capital Management LLC raised its holdings in FirstEnergy by 2.0% during the 4th quarter. Crabel Capital Management LLC now owns 12,531 shares of the utilities provider’s stock valued at $609,000 after buying an additional 244 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its holdings in FirstEnergy by 6.9% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 3,860 shares of the utilities provider’s stock valued at $188,000 after buying an additional 250 shares during the last quarter. Finally, Citizens Financial Group Inc RI raised its holdings in FirstEnergy by 184.3% during the 4th quarter. Citizens Financial Group Inc RI now owns 526 shares of the utilities provider’s stock valued at $26,000 after buying an additional 341 shares during the last quarter. 83.78% of the stock is owned by institutional investors.

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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