FirstEnergy (NYSE:FE) Given New $40.00 Price Target at Scotiabank

FirstEnergy (NYSE:FE) had its price target cut by Scotiabank from $41.00 to $40.00 in a research report report published on Monday, Benzinga reports. They currently have a sector perform rating on the utilities provider’s stock.

Several other equities analysts have also commented on FE. StockNews.com lowered shares of FirstEnergy from a hold rating to a sell rating in a report on Monday, February 12th. KeyCorp upped their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an overweight rating in a report on Thursday, January 4th. Finally, The Goldman Sachs Group started coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a buy rating and a $45.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, FirstEnergy currently has an average rating of Hold and an average price target of $40.33.

FirstEnergy Stock Performance

NYSE:FE opened at $38.21 on Monday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.38. The firm has a market capitalization of $21.99 billion, a price-to-earnings ratio of 21.11 and a beta of 0.48. The company’s 50-day moving average is $37.74 and its two-hundred day moving average is $37.05. FirstEnergy has a 1-year low of $32.18 and a 1-year high of $41.17.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, topping the consensus estimate of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business posted $0.50 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts forecast that FirstEnergy will post 2.67 EPS for the current year.

FirstEnergy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.425 per share. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a yield of 4.45%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s dividend payout ratio is presently 90.61%.

Institutional Investors Weigh In On FirstEnergy

Several large investors have recently added to or reduced their stakes in the business. Sachetta LLC purchased a new stake in shares of FirstEnergy in the 4th quarter valued at approximately $25,000. Sugarloaf Wealth Management LLC purchased a new stake in shares of FirstEnergy in the 4th quarter valued at approximately $29,000. Scarborough Advisors LLC purchased a new stake in shares of FirstEnergy in the 4th quarter valued at approximately $31,000. Blue Trust Inc. increased its position in shares of FirstEnergy by 327.3% in the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 792 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in shares of FirstEnergy in the 4th quarter valued at approximately $40,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.