Analysts Set FirstEnergy Corp. (NYSE:FE) Target Price at $35.96
Shares of FirstEnergy Corp. (NYSE:FE) have been given an average rating of “Hold” by the sixteen analysts that are currently covering the company. Three research analysts have rated the stock with a sell recommendation, seven have assigned a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $35.96.
Several equities research analysts recently weighed in on the company. Barclays PLC set a $36.00 target price on FirstEnergy Corp. and gave the stock a “hold” rating in a report on Saturday, September 17th. Jefferies Group restated a “hold” rating and issued a $36.00 target price on shares of FirstEnergy Corp. in a report on Tuesday, August 16th. Goldman Sachs Group Inc. lowered FirstEnergy Corp. from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $36.00 to $31.00 in a report on Tuesday, July 26th. Citigroup Inc. boosted their target price on FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a report on Wednesday, July 20th. Finally, Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and reduced their target price for the stock from $41.00 to $40.00 in a report on Monday, August 8th.
FirstEnergy Corp. (NYSE:FE) opened at 33.54 on Monday. FirstEnergy Corp. has a 12-month low of $28.89 and a 12-month high of $36.60. The stock’s market capitalization is $14.26 billion. The firm has a 50-day moving average of $33.12 and a 200-day moving average of $34.12.
FirstEnergy Corp. (NYSE:FE) last announced its quarterly 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 business posted $0.53 earnings per share. Equities research analysts forecast that FirstEnergy Corp. will post $2.54 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.29%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio is -103.60%.
A number of hedge funds have recently made changes to their positions in the stock. Nomura Asset Management Co. Ltd. raised its stake in shares of FirstEnergy Corp. by 3.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 62,105 shares of the company’s stock valued at $1,971,000 after buying an additional 1,900 shares in the last quarter. Boston Advisors LLC bought a new stake in shares of FirstEnergy Corp. during the first quarter valued at approximately $645,000. Raymond James Trust N.A. raised its stake in shares of FirstEnergy Corp. by 22.3% in the first quarter. Raymond James Trust N.A. now owns 10,191 shares of the company’s stock valued at $366,000 after buying an additional 1,855 shares in the last quarter. Commonwealth Equity Services Inc raised its stake in shares of FirstEnergy Corp. by 9.6% in the first quarter. Commonwealth Equity Services Inc now owns 80,751 shares of the company’s stock valued at $2,905,000 after buying an additional 7,091 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of FirstEnergy Corp. by 17.3% in the first quarter. Aperio Group LLC now owns 114,601 shares of the company’s stock valued at $4,122,000 after buying an additional 16,880 shares in the last quarter. 75.93% of the stock is currently owned by institutional investors and hedge funds.
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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