FirstEnergy Corp. Given Consensus Recommendation of “Hold” by Brokerages (NYSE:FE)
Shares of FirstEnergy Corp. (NYSE:FE) have been given a consensus rating of “Hold” by the sixteen analysts that are currently covering the company, American Banking News reports. Two research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $36.79.
FE has been the subject of a number of recent research reports. Analysts at Jefferies Group cut their price target on shares of FirstEnergy Corp. from $36.00 to $32.50 in a research note to investors on Wednesday, January 29th. Separately, analysts at Zacks downgraded shares of FirstEnergy Corp. from a “neutral” rating to an “underperform” rating in a research note to investors on Friday, January 24th. They now have a $28.00 price target on the stock. Finally, analysts at Deutsche Bank cut their price target on shares of FirstEnergy Corp. from $34.00 to $32.00 in a research note to investors on Thursday, January 23rd. They now have a “hold” rating on the stock.
FirstEnergy Corp. (NYSE:FE) traded down 0.76% during mid-day trading on Monday, hitting $31.25. 7,357,379 shares of the company’s stock traded hands. FirstEnergy Corp. has a one year low of $30.23 and a one year high of $46.77. The stock has a 50-day moving average of $31.86 and a 200-day moving average of $35.65. The company has a market cap of $13.070 billion and a price-to-earnings ratio of 129.06.
The company also recently declared a quarterly dividend, which is scheduled for Saturday, March 1st. Stockholders of record on Friday, February 7th will be given a dividend of 0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend is Wednesday, February 5th.
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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