FirstEnergy Corp. Given Average Rating of “Hold” by Analysts (NYSE:FE)
Shares of FirstEnergy Corp. (NYSE:FE) have earned a consensus rating of “Hold” from the twelve ratings firms that are currently covering the company, StockRatingsNetwork.com reports. One investment analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and two have given a buy recommendation to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $33.17.
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.
In other FirstEnergy Corp. news, SVP Bennett L. Gaines sold 5,400 shares of the company’s stock on the open market in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $32.25, for a total transaction of $174,150.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
FirstEnergy Corp. (NYSE:FE) traded down 0.27% during mid-day trading on Monday, hitting $32.881. 241,586 shares of the company’s stock traded hands. FirstEnergy Corp. has a 1-year low of $29.98 and a 1-year high of $38.92. The stock’s 50-day moving average is $32.33 and its 200-day moving average is $32.64. The company has a market cap of $13.821 billion and a price-to-earnings ratio of 21.83. FirstEnergy Corp. also was the recipient of a large increase in short interest in 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. Approximately 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 3,739,910 shares, the short-interest ratio is presently 3.4 days.
FirstEnergy Corp. (NYSE:FE) last released its earnings data 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. Shareholders 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 4.37%. 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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