FirstEnergy Corp. (FE) Receives Hold Rating from Jefferies Group
FirstEnergy Corp. (NYSE:FE)‘s stock had its “hold” rating restated by research analysts at Jefferies Group in a report issued on Tuesday. They currently have a $34.00 target price on the stock. Jefferies Group’s target price indicates a potential upside of 2.53% from the company’s previous close.
FE has been the subject of a number of other reports. Citigroup Inc. increased their price objective on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a research note on Wednesday, July 20th. Barclays PLC upgraded shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and set a $37.00 target price for the company in a research report on Thursday, October 13th. Royal Bank Of Canada dropped their target price on shares of FirstEnergy Corp. from $38.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 13th. RBC Capital Markets restated a “hold” rating and set a $36.00 target price (down previously from $38.00) on shares of FirstEnergy Corp. in a research report on Thursday, October 13th. Finally, Morgan Stanley upgraded shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $38.00 to $41.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. FirstEnergy Corp. has an average rating of “Hold” and an average price target of $35.97.
FirstEnergy Corp. (NYSE:FE) traded up 2.89% during trading on Tuesday, hitting $33.16. 7,351,089 shares of the company’s stock were exchanged. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60. The firm has a 50 day moving average price of $32.78 and a 200 day moving average price of $33.72. The company’s market cap is $14.10 billion.
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FirstEnergy Corp. (NYSE:FE) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, topping the Zacks’ 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 earnings per share. On average, equities research analysts predict that FirstEnergy Corp. will post $2.54 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio is presently -103.60%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Signature Estate & Investment Advisors LLC bought a new position in FirstEnergy Corp. during the second quarter valued at approximately $126,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in FirstEnergy Corp. by 19.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,700 shares of the company’s stock valued at $129,000 after buying an additional 600 shares in the last quarter. Assetmark Inc. increased its position in FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock valued at $141,000 after buying an additional 3,714 shares in the last quarter. Checchi Capital Advisers LLC increased its position in FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock valued at $160,000 after buying an additional 281 shares in the last quarter. Finally, City Holding Co. increased its position in FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock valued at $170,000 after buying an additional 782 shares in the last quarter. 75.86% of the stock is currently 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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