FirstEnergy Corp. (FE) Lifted to “Neutral” at Citigroup Inc.
FirstEnergy Corp. (NYSE:FE) was upgraded by equities researchers at Citigroup Inc. to a “neutral” rating in a research note issued to investors on Tuesday.
Other equities analysts have also recently issued reports about the company. Barclays PLC set a $36.00 price target on FirstEnergy Corp. and gave the company a “hold” rating in a report on Saturday, September 17th. Goldman Sachs Group Inc. lowered FirstEnergy Corp. from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $36.00 to $31.00 in a research note on Tuesday, July 26th. Jefferies Group upped their price objective on FirstEnergy Corp. from $35.00 to $36.00 and gave the stock a “hold” rating in a research note on Thursday, July 7th. Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $41.00 to $40.00 in a research note on Monday, August 8th. Finally, Morgan Stanley upgraded FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and upped 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $36.10.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.23 on Tuesday. The company’s market cap is $13.70 billion. The firm’s 50-day moving average price is $32.77 and its 200 day moving average price is $33.74. FirstEnergy Corp. has a 52 week low of $28.89 and a 52 week high of $36.60.
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FirstEnergy Corp. (NYSE:FE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, beating 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 quarter in the previous year, the business posted $0.53 EPS. On average, equities research analysts forecast that FirstEnergy Corp. will post $2.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.47%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s payout ratio is -103.60%.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Signature Estate & Investment Advisors LLC acquired a new position in shares of FirstEnergy Corp. during the second quarter worth approximately $126,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of FirstEnergy Corp. by 19.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,700 shares of the company’s stock worth $129,000 after buying an additional 600 shares during the last quarter. Assetmark Inc. increased its position in shares of FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock worth $141,000 after buying an additional 3,714 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock worth $160,000 after buying an additional 281 shares during the last quarter. Finally, City Holding Co. increased its position in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock worth $170,000 after buying an additional 782 shares during the last quarter. 75.86% of the stock is 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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