FirstEnergy (FE) Lowered to Hold at ValuEngine

ValuEngine lowered shares of FirstEnergy (NYSE:FE) from a buy rating to a hold rating in a report published on Thursday.

A number of other research firms have also commented on FE. Mizuho upgraded shares of FirstEnergy from a neutral rating to a buy rating in a research note on Monday, May 7th. Bank of America upgraded shares of FirstEnergy from a neutral rating to a buy rating and lifted their price objective for the company from $32.09 to $36.00 in a research note on Friday, January 26th. UBS started coverage on shares of FirstEnergy in a research note on Friday, February 2nd. They issued a buy rating and a $39.00 price objective on the stock. Morgan Stanley set a $35.00 price objective on shares of FirstEnergy and gave the company a buy rating in a research note on Thursday, March 8th. Finally, Wells Fargo upgraded shares of FirstEnergy from a market perform rating to an outperform rating and lifted their price objective for the company from $27.93 to $34.30 in a research note on Monday, April 30th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. The company has an average rating of Buy and a consensus target price of $35.52.

NYSE:FE traded down $0.29 during midday trading on Thursday, hitting $32.96. 133,872 shares of the company were exchanged, compared to its average volume of 6,787,270. FirstEnergy has a fifty-two week low of $33.42 and a fifty-two week high of $33.77. The company has a debt-to-equity ratio of 2.32, a current ratio of 0.46 and a quick ratio of 0.40. The firm has a market capitalization of $16.06 billion, a P/E ratio of 10.74, a P/E/G ratio of 2.33 and a beta of 0.24.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Monday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a positive return on equity of 22.52% and a negative net margin of 5.33%. FirstEnergy’s revenue was down 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.78 earnings per share. sell-side analysts anticipate that FirstEnergy will post 2.41 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 7th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.37%. FirstEnergy’s dividend payout ratio (DPR) is 46.91%.

Several institutional investors have recently modified their holdings of the company. Sawtooth Solutions LLC increased its stake in shares of FirstEnergy by 3.7% during the first quarter. Sawtooth Solutions LLC now owns 41,960 shares of the utilities provider’s stock worth $1,427,000 after acquiring an additional 1,514 shares during the period. State Board of Administration of Florida Retirement System increased its stake in shares of FirstEnergy by 0.3% during the first quarter. State Board of Administration of Florida Retirement System now owns 664,748 shares of the utilities provider’s stock worth $22,608,000 after acquiring an additional 1,662 shares during the period. Nomura Asset Management Co. Ltd. increased its stake in shares of FirstEnergy by 2.2% during the first quarter. Nomura Asset Management Co. Ltd. now owns 79,014 shares of the utilities provider’s stock worth $2,687,000 after acquiring an additional 1,703 shares during the period. Strs Ohio increased its stake in shares of FirstEnergy by 3.6% during the fourth quarter. Strs Ohio now owns 50,821 shares of the utilities provider’s stock worth $1,556,000 after acquiring an additional 1,746 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in FirstEnergy by 4.4% during the first quarter. Van ECK Associates Corp now owns 42,306 shares of the utilities provider’s stock worth $1,439,000 after buying an additional 1,765 shares in the last quarter. Institutional investors and hedge funds own 79.49% of the company’s stock.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for FirstEnergy (NYSE:FE)

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