FirstEnergy Corp. Price Target Cut to $31.00 (FE)
Analysts at Jefferies Group reduced their price objective on shares of FirstEnergy Corp. (NYSE:FE) from $32.50 to $31.00 in a research report issued to clients and investors on Wednesday, American Banking & Market News reports. Jefferies Group’s target price suggests a potential upside of 0.65% from the stock’s previous close.
FirstEnergy Corp. (NYSE:FE) traded up 0.81% on Wednesday, hitting $31.05. 3,125,370 shares of the company’s stock traded hands. FirstEnergy Corp. has a 1-year low of $30.10 and a 1-year high of $46.77. The stock’s 50-day moving average is $31.40 and its 200-day moving average is $34.71. The company has a market cap of $12.986 billion and a price-to-earnings ratio of 126.23.
FirstEnergy Corp. (NYSE:FE) last issued its quarterly earnings data on Tuesday, February 25th. The company reported $0.75 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.06. Analysts expect that FirstEnergy Corp. will post $2.98 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Saturday, March 1st. Stockholders of record on Friday, February 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.68%. The ex-dividend date is Wednesday, February 5th.
A number of other analysts have also recently weighed in on FE. Analysts at Zacks downgraded shares of FirstEnergy Corp. from a “neutral” rating to an “underperform” rating in a research note on Friday, January 24th. They now have a $28.00 price target on the stock. Separately, analysts at Deutsche Bank cut their price target on shares of FirstEnergy Corp. from $34.00 to $32.00 in a research note on Thursday, January 23rd. They now have a “hold” rating on the stock. Finally, analysts at BMO Capital Markets cut their price target on shares of FirstEnergy Corp. from $37.00 to $34.00 in a research note on Thursday, January 23rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $33.92.
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).
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.