Royal Bank Of Canada Cuts FirstEnergy Corp. (FE) Price Target to $36.00
FirstEnergy Corp. (NYSE:FE) had its price objective reduced by stock analysts at Royal Bank Of Canada from $38.00 to $36.00 in a note issued to investors on Thursday. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 14.80% from the company’s current price.
Other research analysts also recently issued research reports about the company. RBC Capital Markets restated a “hold” rating and issued a $36.00 target price on shares of FirstEnergy Corp. in a research note on Thursday. Barclays PLC raised FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating in a report on Thursday. Goldman Sachs Group Inc. cut FirstEnergy Corp. from a “neutral” rating to a “sell” rating and lowered their price target for the company from $36.00 to $31.00 in a report on Tuesday, July 26th. Jefferies Group raised their price target on FirstEnergy Corp. from $35.00 to $36.00 and gave the company a “hold” rating in a report on Thursday, July 7th. Finally, Bank of America Corp. raised FirstEnergy Corp. from a “neutral” rating to a “buy” rating and lowered their price target for the company from $41.00 to $40.00 in a report on Monday, August 8th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and seven have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $36.03.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 31.36 on Thursday. The company’s market capitalization is $13.33 billion. The company has a 50-day moving average price of $32.85 and a 200 day moving average price of $33.85. FirstEnergy Corp. has a one year low of $28.89 and a one year high of $36.60.
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FirstEnergy Corp. (NYSE:FE) last issued its earnings results on Thursday, July 28th. The company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.05% and a negative net margin of 3.96%. During the same period in the prior year, the company posted $0.53 earnings per share. Equities analysts anticipate that FirstEnergy Corp. will post $2.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.59%. FirstEnergy Corp.’s dividend payout ratio is currently -103.60%.
Large investors have recently modified their holdings of the company. Nisa Investment Advisors LLC raised its stake in shares of FirstEnergy Corp. by 52.6% in the third quarter. Nisa Investment Advisors LLC now owns 61,516 shares of the company’s stock worth $2,035,000 after buying an additional 21,200 shares in the last quarter. Capstone Asset Management Co. raised its stake in shares of FirstEnergy Corp. by 1.4% in the third quarter. Capstone Asset Management Co. now owns 50,327 shares of the company’s stock worth $1,665,000 after buying an additional 706 shares in the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of FirstEnergy Corp. by 30.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 153,935 shares of the company’s stock worth $5,092,000 after buying an additional 36,289 shares in the last quarter. Pure Financial Advisors Inc. raised its stake in shares of FirstEnergy Corp. by 1.1% in the third quarter. Pure Financial Advisors Inc. now owns 13,442 shares of the company’s stock worth $445,000 after buying an additional 146 shares in the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in shares of FirstEnergy Corp. by 3.8% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 491,537 shares of the company’s stock worth $16,260,000 after buying an additional 18,115 shares in 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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