FirstEnergy Corp. (FE) PT Set at $36.00 by Jefferies Group
FirstEnergy Corp. (NYSE:FE) has been given a $36.00 price target by equities researchers at Jefferies Group in a research report issued to clients and investors on Wednesday. The brokerage presently has a a “hold” rating on the stock. Jefferies Group’s price target indicates a potential upside of 14.80% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Bank of America Corp. raised shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $41.00 to $40.00 in a research report on Monday, August 8th. Barclays PLC set a $36.00 target price on shares of FirstEnergy Corp. and gave the stock a “hold” rating in a research report on Saturday, September 17th. RBC Capital Markets reaffirmed a “hold” rating and set a $36.00 price target on shares of FirstEnergy Corp. in a research report on Thursday. Morgan Stanley raised shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $38.00 to $41.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Finally, Royal Bank Of Canada reduced their price target on shares of FirstEnergy Corp. from $38.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $36.10.
Shares of FirstEnergy Corp. (NYSE:FE) traded up 0.64% during midday trading on Wednesday, hitting $31.56. 4,615,828 shares of the company’s stock were exchanged. The stock’s 50 day moving average is $32.85 and its 200-day moving average is $33.85. FirstEnergy Corp. has a 1-year low of $28.89 and a 1-year high of $36.60. The stock’s market cap is $13.42 billion.
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FirstEnergy Corp. (NYSE:FE) last released its earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 period in the previous year, the firm earned $0.53 EPS. Analysts predict that FirstEnergy Corp. will post $2.54 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be paid a dividend of $0.36 per share. The ex-dividend date is Thursday, November 3rd. This represents a $1.44 annualized dividend and a yield of 4.59%. FirstEnergy Corp.’s payout ratio is -103.60%.
A number of hedge funds have recently added to or reduced their stakes in the stock. State Street Corp raised its stake in FirstEnergy Corp. by 0.6% in the second quarter. State Street Corp now owns 33,057,350 shares of the company’s stock valued at $1,154,024,000 after buying an additional 190,218 shares during the last quarter. Vanguard Group Inc. raised its stake in FirstEnergy Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 31,770,623 shares of the company’s stock valued at $1,109,112,000 after buying an additional 1,160,545 shares during the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in FirstEnergy Corp. by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,253,971 shares of the company’s stock valued at $392,876,000 after buying an additional 216,273 shares during the last quarter. BlackRock Fund Advisors raised its stake in FirstEnergy Corp. by 5.8% in the second quarter. BlackRock Fund Advisors now owns 10,622,822 shares of the company’s stock valued at $370,843,000 after buying an additional 583,660 shares during the last quarter. Finally, LSV Asset Management raised its stake in FirstEnergy Corp. by 2.2% in the second quarter. LSV Asset Management now owns 10,467,966 shares of the company’s stock valued at $365,436,000 after buying an additional 226,226 shares during the last quarter. Hedge funds and other institutional investors own 75.93% of the company’s stock.
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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