FirstEnergy Corporation (NYSE:FE) Given Average Recommendation of “Hold” by Brokerages
FirstEnergy Corporation (NYSE:FE) has been given an average recommendation of “Hold” by the eighteen brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $33.75.
FE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $33.00 price target on the stock in a report on Thursday, June 22nd. Morgan Stanley set a $38.00 price target on FirstEnergy Corporation and gave the company a “buy” rating in a report on Tuesday, July 4th. ValuEngine upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating in a report on Monday, August 7th. Barclays PLC reiterated an “equal weight” rating and set a $38.00 price target (up previously from $35.00) on shares of FirstEnergy Corporation in a report on Sunday, April 23rd. Finally, Jefferies Group LLC lowered their price target on FirstEnergy Corporation from $32.00 to $31.00 and set a “hold” rating on the stock in a report on Monday, May 1st.
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FirstEnergy Corporation (FE) traded up 0.41% during mid-day trading on Friday, hitting $32.17. The company had a trading volume of 3,904,651 shares. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96. The company’s 50 day moving average price is $30.62 and its 200-day moving average price is $30.36. The company’s market cap is $14.29 billion.
FirstEnergy Corporation (NYSE:FE) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.61. The company had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. FirstEnergy Corporation’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.56 earnings per share. Equities research analysts anticipate that FirstEnergy Corporation will post $2.81 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Monday, August 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Thursday, August 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 4.48%. FirstEnergy Corporation’s dividend payout ratio (DPR) is currently -12.31%.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC increased its position in shares of FirstEnergy Corporation by 22.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,633 shares of the utilities provider’s stock worth $106,000 after buying an additional 658 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of FirstEnergy Corporation during the first quarter worth approximately $139,000. Sandy Spring Bank increased its position in shares of FirstEnergy Corporation by 1.9% in the first quarter. Sandy Spring Bank now owns 5,075 shares of the utilities provider’s stock worth $161,000 after buying an additional 97 shares during the period. City Holding Co. increased its stake in FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock valued at $153,000 after buying an additional 400 shares during the period. Finally, Ledyard National Bank bought a new stake in FirstEnergy Corporation during the first quarter valued at about $174,000. Hedge funds and other institutional investors own 78.11% of the company’s stock.
FirstEnergy Corporation Company Profile
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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