FirstEnergy Corp. (FE) Stock Rating Lowered by Tudor Pickering
FirstEnergy Corp. (NYSE:FE) was downgraded by analysts at Tudor Pickering from a “hold” rating to a “sell” rating in a research note issued to investors on Wednesday.
Other analysts also recently issued research reports about the company. Barclays PLC set a $36.00 price target on FirstEnergy Corp. and gave the company a “hold” rating in a research note on Saturday, September 17th. Jefferies Group reiterated a “hold” rating and set a $34.00 price target on shares of FirstEnergy Corp. in a research note on Tuesday. Goldman Sachs Group Inc. downgraded FirstEnergy Corp. from a “neutral” rating to a “sell” rating and dropped their price target for the company from $36.00 to $31.00 in a research note on Tuesday, July 26th. Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $41.00 to $40.00 in a research note on Monday, August 8th. Finally, Citigroup Inc. upgraded FirstEnergy Corp. from a “sell” rating to a “neutral” rating and upped their target price for the stock from $29.00 to $31.00 in a research note on Tuesday. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. FirstEnergy Corp. currently has an average rating of “Hold” and a consensus target price of $35.97.
FirstEnergy Corp. (NYSE:FE) traded down 1.15% during midday trading on Wednesday, hitting $32.78. The company had a trading volume of 2,162,209 shares. The stock has a 50 day moving average price of $32.78 and a 200-day moving average price of $33.72. The stock’s market capitalization is $13.94 billion. 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 announced its earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 last year, the company posted $0.53 EPS. On average, equities analysts predict 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. Investors of record on Monday, November 7th will be given a $0.36 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.44 annualized dividend and a yield of 4.34%. FirstEnergy Corp.’s payout ratio is -103.60%.
A number of hedge funds and other institutional investors have recently modified their holdings of FE. State Street Corp raised its position in FirstEnergy Corp. by 0.6% in the second quarter. State Street Corp now owns 33,057,350 shares of the company’s stock valued at $1,154,024,000 after buying an additional 190,218 shares in the last quarter. Vanguard Group Inc. raised its position in FirstEnergy Corp. by 3.8% in the second quarter. Vanguard Group Inc. now owns 31,770,623 shares of the company’s stock valued at $1,109,112,000 after buying an additional 1,160,545 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in FirstEnergy Corp. by 2.0% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 11,253,971 shares of the company’s stock valued at $392,876,000 after buying an additional 216,273 shares in the last quarter. BlackRock Fund Advisors raised its position in FirstEnergy Corp. by 5.8% in the second quarter. BlackRock Fund Advisors now owns 10,622,822 shares of the company’s stock valued at $370,843,000 after buying an additional 583,660 shares in the last quarter. Finally, LSV Asset Management raised its position in FirstEnergy Corp. by 2.2% in the second quarter. LSV Asset Management now owns 10,467,966 shares of the company’s stock valued at $365,436,000 after buying an additional 226,226 shares in the last quarter. Institutional investors own 75.86% of the company’s stock.
About FirstEnergy Corp.
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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