FirstEnergy Corp. (FE) Upgraded at Barclays PLC
FirstEnergy Corp. (NYSE:FE) was upgraded by investment analysts at Barclays PLC to an “overweight” rating in a report issued on Thursday.
A number of other research analysts have also issued reports on the stock. Jefferies Group raised their price objective on shares of FirstEnergy Corp. from $35.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, July 7th. Citigroup Inc. raised their price objective on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the company a “sell” rating in a report on Wednesday, July 20th. Goldman Sachs Group Inc. lowered shares of FirstEnergy Corp. from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $36.00 to $31.00 in a report on Tuesday, July 26th. Morgan Stanley upgraded shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $38.00 to $41.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Finally, Bank of America Corp. upgraded shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $41.00 to $40.00 in a report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. FirstEnergy Corp. has an average rating of “Hold” and a consensus price target of $35.82.
FirstEnergy Corp. (NYSE:FE) opened at 31.36 on Thursday. FirstEnergy Corp. has a one year low of $28.89 and a one year high of $36.60. The company’s 50-day moving average is $32.85 and its 200-day moving average is $33.85. The firm’s market cap is $13.33 billion.
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FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, beating analysts’ consensus estimates 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 prior year, the company posted $0.53 EPS. On average, analysts forecast that FirstEnergy Corp. will post $2.54 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders 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 yield of 4.59%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio is -103.60%.
Institutional investors have recently bought and sold shares of the company. Synovus Financial Corp increased its position in FirstEnergy Corp. by 0.6% in the second quarter. Synovus Financial Corp now owns 7,914 shares of the company’s stock worth $277,000 after buying an additional 50 shares in the last quarter. Moors & Cabot Inc. increased its position in FirstEnergy Corp. by 0.5% in the second quarter. Moors & Cabot Inc. now owns 12,753 shares of the company’s stock worth $442,000 after buying an additional 62 shares in the last quarter. Charter Trust Co. increased its position in FirstEnergy Corp. by 0.6% in the second quarter. Charter Trust Co. now owns 17,689 shares of the company’s stock worth $618,000 after buying an additional 100 shares in the last quarter. Pure Financial Advisors Inc. increased its position in FirstEnergy Corp. by 1.1% in the second quarter. Pure Financial Advisors Inc. now owns 13,296 shares of the company’s stock worth $464,000 after buying an additional 142 shares in the last quarter. Finally, Mn Services Vermogensbeheer B.V. increased its position in FirstEnergy Corp. by 2.2% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 10,703 shares of the company’s stock worth $336,000 after buying an additional 235 shares in the last quarter. 75.93% of the stock is currently owned by hedge funds and other 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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