FirstEnergy Corp. (NYSE:FE) announced a quarterly dividend on Tuesday, March 16th, RTT News reports. Shareholders of record on Friday, May 7th will be paid a dividend of 0.39 per share by the utilities provider on Tuesday, June 1st. This represents a $1.56 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Thursday, May 6th.
FirstEnergy has increased its dividend by 8.3% over the last three years and has increased its dividend every year for the last 1 years. FirstEnergy has a payout ratio of 62.2% indicating that its dividend is sufficiently covered by earnings. Research analysts expect FirstEnergy to earn $2.61 per share next year, which means the company should continue to be able to cover its $1.56 annual dividend with an expected future payout ratio of 59.8%.
FirstEnergy stock opened at $38.32 on Tuesday. The company has a market cap of $20.85 billion, a price-to-earnings ratio of 28.39 and a beta of 0.20. The business’s 50 day simple moving average is $35.42 and its 200 day simple moving average is $31.99. The company has a current ratio of 0.70, a quick ratio of 0.60 and a debt-to-equity ratio of 3.09. FirstEnergy has a 12 month low of $22.85 and a 12 month high of $44.10.
A number of research firms have recently commented on FE. Wells Fargo & Company lowered FirstEnergy from an “equal weight” rating to an “underweight” rating and raised their price target for the stock from $31.00 to $32.00 in a report on Wednesday, January 6th. TheStreet raised FirstEnergy from a “c+” rating to a “b-” rating in a report on Thursday, February 4th. Morgan Stanley raised their price objective on shares of FirstEnergy from $40.00 to $44.00 and gave the company an “overweight” rating in a research report on Monday, April 26th. KeyCorp raised shares of FirstEnergy from a “sector weight” rating to an “overweight” rating and set a $42.00 price objective for the company in a report on Tuesday, April 27th. Finally, Mizuho increased their target price on FirstEnergy from $32.00 to $33.00 in a research note on Friday, February 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $39.42.
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 operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes.
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