FirstEnergy Corp. Declares Quarterly Dividend of $0.55 (FE)
FirstEnergy Corp. (NYSE:FE) announced a quarterly dividend on Tuesday, September 17th, Stock Ratings Network.com reports. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.55 per share on Sunday, December 1st. This represents a $2.20 annualized dividend and a dividend yield of 5.90%.
FE has been the subject of a number of recent research reports. Analysts at UBS AG cut their price target on shares of FirstEnergy Corp. (NYSE:FE) from $41.00 to $37.00 in a research note to investors on Friday, August 9th. They now have a “neutral” rating on the stock. On the ratings front, analysts at TheStreet downgraded shares of FirstEnergy Corp. (NYSE:FE) to a “hold” rating in a research note to investors on Thursday, August 8th. Finally, analysts at Zacks reiterated a “neutral” rating on shares of FirstEnergy Corp. (NYSE:FE) in a research note to investors on Wednesday, August 7th. They now have a $40.00 price target on the stock.
Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $42.14.
FirstEnergy Corp. (NYSE:FE) traded up 0.89% during mid-day trading on Tuesday, hitting $37.6227. 606,865 shares of the company’s stock traded hands. FirstEnergy Corp. has a 52 week low of $35.46 and a 52 week high of $46.77. The stock has a 50-day moving average of $37.5 and a 200-day moving average of $40.17. The company has a market cap of $15.734 billion and a P/E ratio of 50.46.
FirstEnergy Corp. (NYSE:FE) last released its earnings data on Tuesday, August 6th. The company reported $0.59 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.54 by $0.05. During the same quarter in the prior year, the company posted $0.59 earnings per share. Analysts expect that FirstEnergy Corp. will post $3.00 EPS for the current fiscal year.
FirstEnergy Corp. (NYSE:FE) is engaged in the holding, directly or indirectly, of its subsidiaries: Ohio Edison Company (OE), The Cleveland Electric Illuminating Company (CEI), The Toledo Edison Company (TE), Pennsylvania Power Company (Penn) (a wholly owned subsidiary of OE), American Transmission Systems, Incorporated (ATSI), Jersey Central Power & Light Company (JCP&L), Metropolitan Edison Company (Met-Ed), Pennsylvania Electric Company (Penelec).
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