FirstEnergy Corporation (NYSE:FE) had its target price upped by Morgan Stanley from $39.00 to $40.00 in a research report released on Friday, September 8th. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.
A number of other research analysts have also recently commented on the company. Goldman Sachs Group, Inc. (The) cut FirstEnergy Corporation from a positive rating to a neutral rating in a research note on Monday, June 26th. Zacks Investment Research cut FirstEnergy Corporation from a hold rating to a sell rating in a research note on Tuesday, July 4th. Wolfe Research upgraded FirstEnergy Corporation from an underperform rating to a market perform rating and boosted their price target for the stock from $30.00 to $32.00 in a research note on Monday, June 26th. ValuEngine cut FirstEnergy Corporation from a buy rating to a hold rating in a research note on Friday, June 2nd. Finally, Deutsche Bank AG reiterated a hold rating and issued a $34.00 price target (up previously from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. Fourteen analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has an average rating of Hold and an average price target of $34.09.
FirstEnergy Corporation (NYSE FE) traded down 0.06% on Friday, hitting $31.62. 5,434,230 shares of the company were exchanged. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $34.96. The company has a 50 day moving average price of $32.30 and a 200-day moving average price of $30.71. The stock’s market capitalization is $14.05 billion.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, equities analysts expect that FirstEnergy Corporation will post $2.81 earnings per share for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.55%. The ex-dividend date was Thursday, August 3rd. FirstEnergy Corporation’s payout ratio is currently -12.31%.
Large investors have recently bought and sold shares of the company. BP PLC bought a new position in shares of FirstEnergy Corporation during the first quarter valued at approximately $1,591,000. Achmea Investment Management B.V. bought a new position in shares of FirstEnergy Corporation during the first quarter valued at approximately $2,387,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of FirstEnergy Corporation by 3.7% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,256,711 shares of the utilities provider’s stock valued at $36,646,000 after purchasing an additional 44,965 shares during the last quarter. Alethea Capital Management LLC bought a new position in shares of FirstEnergy Corporation during the first quarter valued at approximately $2,046,000. Finally, P Schoenfeld Asset Management LP bought a new position in shares of FirstEnergy Corporation during the second quarter valued at approximately $11,708,000. 79.86% of the stock is owned by institutional investors.
FirstEnergy Corporation Company Profile
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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