FirstEnergy Corporation (NYSE:FE) had its price objective cut by Citigroup Inc. from $32.00 to $31.00 in a report issued on Wednesday, July 19th. They currently have a neutral rating on the utilities provider’s stock.
Several other equities analysts have also recently commented on FE. Zacks Investment Research raised shares of FirstEnergy Corporation from a hold rating to a buy rating and set a $33.00 target price on the stock in a research note on Thursday, June 22nd. BidaskClub cut shares of FirstEnergy Corporation from a sell rating to a strong sell rating in a research note on Saturday, June 10th. Tudor Pickering raised shares of FirstEnergy Corporation from a trim rating to a hold rating in a research note on Friday, July 14th. Barclays PLC reaffirmed an overweight rating and issued a $37.00 price objective (up previously from $36.00) on shares of FirstEnergy Corporation in a research note on Monday, June 19th. Finally, Morgan Stanley lowered their price objective on shares of FirstEnergy Corporation from $40.00 to $39.00 and set an overweight rating on the stock in a research note on Monday, May 8th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. The company has a consensus rating of Hold and an average target price of $33.71.
Shares of FirstEnergy Corporation (NYSE FE) traded up 0.41% on Wednesday, hitting $32.17. 3,904,651 shares of the stock were exchanged. The firm’s market cap is $14.29 billion. The firm’s 50 day moving average price is $30.62 and its 200 day moving average price is $30.36. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96.
FirstEnergy Corporation (NYSE:FE) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The firm had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. FirstEnergy Corporation’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. Equities analysts anticipate that FirstEnergy Corporation will post $2.81 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 4.48%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s payout ratio is presently -12.31%.
Institutional investors have recently modified their holdings of the stock. Patriot Financial Group Insurance Agency LLC raised 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 valued at $106,000 after buying an additional 658 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new position in FirstEnergy Corporation during the first quarter worth approximately $139,000. Sandy Spring Bank raised its position in FirstEnergy Corporation by 1.3% in the second quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock worth $150,000 after buying an additional 66 shares in the last quarter. City Holding Co. raised its position in FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock worth $153,000 after buying an additional 400 shares in the last quarter. Finally, Ledyard National Bank purchased a new position in FirstEnergy Corporation during the first quarter worth approximately $174,000. 78.11% of the stock is currently owned by hedge funds and other institutional investors.
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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