FirstEnergy Corp. SVP Bennett L. Gaines Unloads 5,400 Shares (FE)
FirstEnergy Corp. (NYSE:FE) SVP Bennett L. Gaines unloaded 5,400 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was sold at an average price of $32.25, for a total transaction of $174,150.00. Following the completion of the transaction, the senior vice president now directly owns 20,401 shares in the company, valued at approximately $657,932. The sale was disclosed in a legal filing with the SEC, which is available at this link.
FE has been the subject of a number of recent research reports. Analysts at Zacks reiterated a “neutral” rating on shares of FirstEnergy Corp. in a research note on Thursday, August 7th. They now have a $33.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of FirstEnergy Corp. in a research note on Wednesday, August 6th. They now have a $33.00 price target on the stock, down previously from $34.00. Finally, analysts at Jefferies Group cut their price target on shares of FirstEnergy Corp. from $37.00 to $36.50 in a research note on Wednesday, August 6th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $33.17.
Shares of FirstEnergy Corp. (NYSE:FE) traded up 0.34% on Wednesday, hitting $32.41. 1,719,832 shares of the company’s stock traded hands. FirstEnergy Corp. has a 52 week low of $29.98 and a 52 week high of $38.92. The stock’s 50-day moving average is $32.4 and its 200-day moving average is $32.63. The company has a market cap of $13.623 billion and a P/E ratio of 21.39. FirstEnergy Corp. also was the target of a significant increase in short interest during the month of July. As of July 31st, there was short interest totalling 12,868,330 shares, an increase of 98.9% from the July 15th total of 6,468,904 shares. Currently, 3.1% of the shares of the company are short sold. Based on an average daily trading volume, of 3,739,910 shares, the short-interest ratio is currently 3.4 days.
FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.49 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.44 by $0.05. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.32 billion. During the same quarter last year, the company posted $0.59 earnings per share. On average, analysts predict that FirstEnergy Corp. will post $2.49 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 1st. Stockholders of record on Thursday, August 7th will be paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.46%. The ex-dividend date is Tuesday, August 5th.
FirstEnergy Corp. is a holding company. The Company is a diversified energy company operating in three segments: regulated distribution, regulated transmission and competitive energy services segment.
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