Shares of FirstEnergy Corp. (NYSE:FE) have been assigned an average rating of “Buy” from the thirteen analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $40.78.
A number of equities research analysts have issued reports on the company. Bank of America boosted their price target on FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a research note on Monday, October 29th. Zacks Investment Research downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research note on Wednesday, July 18th. Citigroup boosted their price target on FirstEnergy from $34.00 to $37.00 and gave the company a “neutral” rating in a research note on Wednesday, October 3rd. Howard Weil assumed coverage on FirstEnergy in a research note on Tuesday, July 24th. They set a “sector outperform” rating and a $39.00 price target for the company. Finally, Morgan Stanley lifted their price objective on FirstEnergy from $36.00 to $39.00 and gave the company a “buy” rating in a research report on Monday, July 16th.
Several hedge funds have recently bought and sold shares of the company. Reilly Financial Advisors LLC lifted its holdings in FirstEnergy by 285.8% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after purchasing an additional 2,132 shares in the last quarter. Winslow Evans & Crocker Inc. purchased a new position in FirstEnergy in the 3rd quarter worth approximately $114,000. Valeo Financial Advisors LLC lifted its holdings in FirstEnergy by 104.4% in the 3rd quarter. Valeo Financial Advisors LLC now owns 3,759 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 1,920 shares in the last quarter. IMA Wealth Inc. purchased a new position in FirstEnergy in the 2nd quarter worth approximately $180,000. Finally, Piedmont Investment Advisors LLC purchased a new position in FirstEnergy in the 2nd quarter worth approximately $189,000. 89.79% of the stock is currently owned by hedge funds and other institutional investors.
NYSE FE traded up $0.30 during trading hours on Monday, hitting $38.00. The company’s stock had a trading volume of 3,639,655 shares, compared to its average volume of 4,100,735. The company has a market capitalization of $19.31 billion, a price-to-earnings ratio of 12.38, a PEG ratio of 2.48 and a beta of 0.24. FirstEnergy has a 12 month low of $29.33 and a 12 month high of $39.01. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.41 and a current ratio of 0.45.
FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.09. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $2.82 billion. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. On average, equities analysts predict that FirstEnergy will post 2.54 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Stockholders of record on Wednesday, November 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.79%. FirstEnergy’s payout ratio is currently 46.91%.
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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