FirstEnergy Corp. (FE) Downgraded by Tudor Pickering to Sell
FirstEnergy Corp. (NYSE:FE) was downgraded by investment analysts at Tudor Pickering from a “hold” rating to a “sell” rating in a research report issued on Wednesday.
FE has been the topic of a number of other reports. Jefferies Group reissued a “hold” rating and set a $34.00 price target on shares of FirstEnergy Corp. in a research report on Tuesday. Evercore ISI raised shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup Inc. lifted their price target on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a research report on Wednesday, July 20th. Bank of America Corp. raised shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $41.00 to $40.00 in a research report on Monday, August 8th. Finally, Morgan Stanley raised shares of FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and lifted their price target 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. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $35.97.
FirstEnergy Corp. (NYSE:FE) traded down 1.037% during midday trading on Wednesday, reaching $32.816. The company’s stock had a trading volume of 2,177,828 shares. The stock’s market capitalization is $13.95 billion. The firm has a 50-day moving average price of $32.78 and a 200 day moving average price of $33.72. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/10/19/firstenergy-corp-fe-downgraded-by-tudor-pickering-to-sell.html
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 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 previous year, the firm earned $0.53 EPS. Equities research analysts predict that FirstEnergy Corp. will post $2.54 EPS for the current fiscal 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. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 4.34%. FirstEnergy Corp.’s dividend payout ratio (DPR) is currently -103.60%.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. National Pension Service raised its position in shares of FirstEnergy Corp. by 9.3% in the third quarter. National Pension Service now owns 319,183 shares of the company’s stock worth $10,559,000 after buying an additional 27,254 shares during the period. Premier Asset Managment LLC raised its position in shares of FirstEnergy Corp. by 75.6% in the third quarter. Premier Asset Managment LLC now owns 25,730 shares of the company’s stock worth $851,000 after buying an additional 11,075 shares during the period. Nisa Investment Advisors LLC raised its position 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 during the period. Capstone Asset Management Co. raised its position 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 during the period. Finally, Oregon Public Employees Retirement Fund raised its position 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 during the period. Institutional investors and hedge funds own 75.86% 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.
Receive News & Ratings for FirstEnergy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.