Shares of FirstEnergy Corp. (NYSE:FE) have received a consensus rating of “Buy” from the thirteen brokerages that are presently covering the company, Marketbeat reports. Two investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $40.78.
A number of brokerages recently commented on FE. ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Wednesday, October 10th. Morgan Stanley raised their target price on FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Tuesday, September 11th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $42.00 target price (up from $41.00) on shares of FirstEnergy in a report on Monday, September 17th. Finally, Citigroup raised their target price on FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a report on Wednesday, October 3rd.
A number of institutional investors have recently made changes to their positions in FE. Los Angeles Capital Management & Equity Research Inc. increased its stake in FirstEnergy by 0.6% in the 3rd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 548,336 shares of the utilities provider’s stock worth $20,382,000 after buying an additional 3,270 shares in the last quarter. BP PLC increased its stake in FirstEnergy by 3.4% in the 3rd quarter. BP PLC now owns 60,000 shares of the utilities provider’s stock worth $2,231,000 after buying an additional 2,000 shares in the last quarter. WINTON GROUP Ltd increased its stake in FirstEnergy by 27.8% in the 3rd quarter. WINTON GROUP Ltd now owns 8,539 shares of the utilities provider’s stock worth $317,000 after buying an additional 1,857 shares in the last quarter. Wells Fargo & Company MN increased its stake in FirstEnergy by 290.3% in the 3rd quarter. Wells Fargo & Company MN now owns 4,304,504 shares of the utilities provider’s stock worth $159,998,000 after buying an additional 3,201,774 shares in the last quarter. Finally, Tdam USA Inc. increased its stake in FirstEnergy by 1.5% in the 3rd quarter. Tdam USA Inc. now owns 261,633 shares of the utilities provider’s stock worth $9,589,000 after buying an additional 3,965 shares in the last quarter. 89.79% of the stock is currently owned by institutional investors.
Shares of NYSE FE traded up $0.51 during midday trading on Monday, hitting $37.63. 88,547 shares of the stock traded hands, compared to its average volume of 4,171,261. The stock has a market capitalization of $18.98 billion, a price-to-earnings ratio of 12.24, a PEG ratio of 2.44 and a beta of 0.24. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41. FirstEnergy has a one year low of $29.33 and a one year high of $39.01.
FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.09. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $2.82 billion. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. Equities research analysts anticipate that FirstEnergy will post 2.54 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Investors of record on Wednesday, November 7th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Tuesday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 3.83%. FirstEnergy’s dividend payout ratio is currently 46.91%.
FirstEnergy Company Profile
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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