FirstEnergy Corp. Given Neutral Rating at Zacks (FE)
FirstEnergy Corp. (NYSE:FE)‘s stock had its “neutral” rating reiterated by Zacks in a research note issued to investors on Tuesday, AnalystRatings.Net reports. They currently have a $40.00 target price on the stock. Zacks‘ price target would suggest a potential upside of 5.76% from the company’s current price.
Zacks‘ analyst wrote, “We retain our Neutral recommendation on FirstEnergy Corp. The company’s focus on development of transmission projects will boost its operations and help meet the rising power needs of its customers. Consistent customer expansion as well as efforts to strengthen its sales and marketing operations will further fetch sizeable returns. In addition, disciplined capital spending and gradual divestment of non-core hydro assets are in sync with the company’s broad growth objectives. In addition, FirstEnergy’s string of asset modernization investments will lead to better service reliability which will contribute to customer retention. However, FirstEnergy needs to watch out for risks related to stringent environment legislation and weather fluctuations. “
Shares of FirstEnergy Corp. (NYSE:FE) traded up 0.56% during mid-day trading on Tuesday, hitting $38.03. 2,433,865 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 $37.60 and a 200-day moving average of $40.18. The company has a market cap of $15.905 billion and a P/E ratio of 51.18.
FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings results 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 $2.98 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 5.82%. The ex-dividend date of this dividend is Tuesday, November 5th.
Several other analysts have also recently commented on the stock. Analysts at Jefferies Group upgraded shares of FirstEnergy Corp. from an “underperform” rating to a “hold” rating in a research note to investors on Tuesday, October 1st. They now have a $36.50 price target on the stock, up previously from $33.50. Separately, analysts at UBS AG cut their price target on shares of FirstEnergy Corp. 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. Finally, analysts at TheStreet downgraded shares of FirstEnergy Corp. to a “hold” rating in a research note to investors on Thursday, August 8th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $42.68.
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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