FirstEnergy Corp. (FE) Stock Rating Reaffirmed by Jefferies Group
FirstEnergy Corp. (NYSE:FE)‘s stock had its “hold” rating reaffirmed by research analysts at Jefferies Group in a report released on Tuesday. They presently have a $34.00 target price on the stock. Jefferies Group’s price target would indicate a potential upside of 5.49% from the stock’s previous close.
Other equities research analysts have also recently issued research reports about the company. Bank of America Corp. upgraded 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 note on Monday, August 8th. Evercore ISI upgraded FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday. Barclays PLC set a $36.00 target price on FirstEnergy Corp. and gave the stock a “hold” rating in a research note on Saturday, September 17th. 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 note on Thursday, October 13th. Finally, Citigroup Inc. upgraded FirstEnergy Corp. from a “sell” rating to a “neutral” rating in a research note on Tuesday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $35.97.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.23 on Tuesday. The firm’s market cap is $13.70 billion. FirstEnergy Corp. has a 52 week low of $28.89 and a 52 week high of $36.60. The stock’s 50 day moving average is $32.77 and its 200-day moving average is $33.74.
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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, 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 period in the previous year, the firm posted $0.53 earnings per share. On average, equities analysts predict that FirstEnergy Corp. will post $2.54 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors 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 4.47%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio is presently -103.60%.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new position in shares of FirstEnergy Corp. during the second quarter worth $126,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake 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 worth $129,000 after buying an additional 600 shares during the last quarter. Assetmark Inc. increased its stake in 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 stake in 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 stake in 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 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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