BidaskClub upgraded shares of FirstEnergy Corporation (NYSE:FE) from a sell rating to a hold rating in a research report report published on Monday, July 24th.
A number of other research analysts have also issued reports on the company. J P Morgan Chase & Co lowered FirstEnergy Corporation from an overweight rating to a neutral rating and reduced their price target for the stock from $36.00 to $32.00 in a research report on Monday, May 1st. Mizuho reiterated a neutral rating and set a $31.25 price target on shares of FirstEnergy Corporation in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) lowered FirstEnergy Corporation from a positive rating to a neutral rating in a research report on Monday, June 26th. Barclays PLC upgraded FirstEnergy Corporation from an equal weight rating to an overweight rating and reduced their price target for the stock from $38.00 to $36.00 in a research report on Monday, May 1st. Finally, Morgan Stanley reiterated an overweight rating on shares of FirstEnergy Corporation in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and five have given a buy rating to the stock. FirstEnergy Corporation presently has a consensus rating of Hold and a consensus price target of $33.80.
Shares of FirstEnergy Corporation (NYSE FE) opened at 32.83 on Monday. The stock has a 50 day moving average of $31.10 and a 200 day moving average of $30.46. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $34.96. The stock’s market cap is $14.59 billion.
FirstEnergy Corporation (NYSE:FE) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The business had revenue of $3.30 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the firm posted $0.56 EPS. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. On average, analysts expect that FirstEnergy Corporation will post $2.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 1st. Stockholders of record on Monday, August 7th will be given a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.39%. The ex-dividend date is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
Several large investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans raised its stake in shares of FirstEnergy Corporation by 7.3% in the fourth quarter. Thrivent Financial for Lutherans now owns 15,338 shares of the utilities provider’s stock worth $475,000 after buying an additional 1,040 shares during the period. UBS Asset Management Americas Inc. raised its stake in shares of FirstEnergy Corporation by 18.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 1,569,047 shares of the utilities provider’s stock worth $48,593,000 after buying an additional 242,727 shares during the period. Teachers Advisors LLC raised its stake in shares of FirstEnergy Corporation by 3.3% in the fourth quarter. Teachers Advisors LLC now owns 1,745,872 shares of the utilities provider’s stock worth $54,070,000 after buying an additional 55,530 shares during the period. Kentucky Retirement Systems bought a new stake in shares of FirstEnergy Corporation during the fourth quarter worth about $957,000. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of FirstEnergy Corporation during the fourth quarter worth about $427,000. 78.75% of the stock is currently owned by institutional investors.
About FirstEnergy Corporation
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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