Traders sold shares of FirstEnergy Corp. (NYSE:FE) on strength during trading on Monday. $26.00 million flowed into the stock on the tick-up and $84.50 million flowed out of the stock on the tick-down, for a money net flow of $58.50 million out of the stock. Of all stocks tracked, FirstEnergy had the 24th highest net out-flow for the day. FirstEnergy traded up $0.07 for the day and closed at $38.05
Several research firms have weighed in on FE. Morgan Stanley raised their price target on FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a research report on Tuesday, September 11th. Wells Fargo & Co reissued a “buy” rating and set a $42.00 price target (up previously from $41.00) on shares of FirstEnergy in a research report on Monday, September 17th. Citigroup raised their price target on FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 3rd. Bank of America raised their price target on FirstEnergy from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Wednesday, August 1st. Finally, TheStreet raised FirstEnergy from a “c+” rating to a “b” rating in a research report on Tuesday, July 31st. Five investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $38.82.
The company has a quick ratio of 0.41, a current ratio of 0.47 and a debt-to-equity ratio of 2.18. The firm has a market capitalization of $18.07 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 2.52 and a beta of 0.29.
FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.09. FirstEnergy had a positive return on equity of 24.39% and a negative net margin of 4.60%. The business had revenue of $2.70 billion for the quarter, compared to analysts’ expectations of $2.56 billion. During the same quarter last year, the firm earned $0.61 earnings per share. Research analysts forecast that FirstEnergy Corp. will post 2.46 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Tuesday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is 46.91%.
Several hedge funds have recently bought and sold shares of the company. Reilly Financial Advisors LLC raised its position in FirstEnergy by 285.8% in the second quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock valued at $103,000 after purchasing an additional 2,132 shares during the period. Private Capital Group LLC raised its position in FirstEnergy by 1,890.7% in the first quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock valued at $102,000 after purchasing an additional 2,836 shares during the period. IMA Wealth Inc. purchased a new position in FirstEnergy in the second quarter valued at about $180,000. Piedmont Investment Advisors LLC purchased a new position in FirstEnergy in the second quarter valued at about $189,000. Finally, HighPoint Advisor Group LLC purchased a new position in FirstEnergy in the first quarter valued at about $209,000. Institutional investors and hedge funds own 94.43% of the company’s stock.
About FirstEnergy (NYSE:FE)
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.
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