FirstEnergy Corp. (FE) Given a $36.00 Price Target by Jefferies Group Analysts
FirstEnergy Corp. (NYSE:FE) received a $36.00 price objective from research analysts at Jefferies Group in a research report issued on Wednesday. The firm presently has a a “hold” rating on the stock. Jefferies Group’s price objective would suggest a potential upside of 14.80% from the company’s previous close.
Other research analysts have also issued reports about the stock. Bank of America Corp. upgraded shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $41.00 to $40.00 in a research note on Monday, August 8th. Barclays PLC set a $36.00 price objective on shares of FirstEnergy Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. RBC Capital Markets restated a “hold” rating and set a $36.00 price objective on shares of FirstEnergy Corp. in a research note on Thursday. Morgan Stanley upgraded shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $38.00 to $41.00 in a research note on Monday, August 8th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada lowered their price objective on shares of FirstEnergy Corp. from $38.00 to $36.00 and set a “sector perform” rating on the stock in a research note on Thursday. Three analysts have rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the company. FirstEnergy Corp. has an average rating of “Hold” and an average target price of $36.10.
FirstEnergy Corp. (NYSE:FE) traded up 0.73% on Wednesday, reaching $31.59. 2,914,294 shares of the company traded hands. The stock has a 50-day moving average price of $32.85 and a 200-day moving average price of $33.85. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60. The firm’s market cap is $13.43 billion.
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FirstEnergy Corp. (NYSE:FE) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a negative net margin of 3.96% and a positive return on equity of 10.05%. During the same quarter last year, the firm posted $0.53 EPS. Analysts anticipate that FirstEnergy Corp. will post $2.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.59%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is presently -103.60%.
Hedge funds have recently modified their holdings of the company. Ngam Advisors L.P. boosted its position in FirstEnergy Corp. by 48.6% in the first quarter. Ngam Advisors L.P. now owns 15,257 shares of the company’s stock worth $549,000 after buying an additional 4,993 shares in the last quarter. JPMorgan Chase & Co. boosted its position in FirstEnergy Corp. by 132.2% in the first quarter. JPMorgan Chase & Co. now owns 1,211,812 shares of the company’s stock worth $43,589,000 after buying an additional 689,925 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new position in FirstEnergy Corp. during the first quarter worth about $1,516,000. M&T Bank Corp boosted its position in FirstEnergy Corp. by 224.6% in the first quarter. M&T Bank Corp now owns 21,646 shares of the company’s stock worth $778,000 after buying an additional 14,977 shares in the last quarter. Finally, ING Groep NV boosted its position in FirstEnergy Corp. by 97.1% in the first quarter. ING Groep NV now owns 32,840 shares of the company’s stock worth $1,182,000 after buying an additional 16,182 shares in the last quarter. 75.93% of the stock is owned by institutional investors.
FirstEnergy Corp. Company Profile
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.
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