RBC Capital Markets Reiterates “Hold” Rating for FirstEnergy Corp. (FE)
FirstEnergy Corp. (NYSE:FE)‘s stock had its “hold” rating restated by research analysts at RBC Capital Markets in a note issued to investors on Thursday. They currently have a $36.00 target price on the stock, down from their previous target price of $38.00. RBC Capital Markets’ price target points to a potential upside of 14.07% from the company’s current price.
A number of other analysts have also issued reports on the company. Morgan Stanley raised FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $41.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Bank of America Corp. raised FirstEnergy Corp. from a “neutral” rating to a “buy” rating and cut their target price for the company from $41.00 to $40.00 in a research report on Monday, August 8th. Barclays PLC raised FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and set a $37.00 target price on the stock in a research report on Thursday. Jefferies Group boosted their target price on FirstEnergy Corp. from $35.00 to $36.00 and gave the company a “hold” rating in a research report on Thursday, July 7th. Finally, Citigroup Inc. upped their price objective on FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a research report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $36.10.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 31.56 on Thursday. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60. The stock has a 50 day moving average price of $32.81 and a 200-day moving average price of $33.83. The firm’s market cap is $13.42 billion.
FirstEnergy Corp. (NYSE:FE) last announced its earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 period last year, the business earned $0.53 EPS. On average, equities analysts anticipate that FirstEnergy Corp. will post $2.54 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 annualized dividend and a dividend yield of 4.56%. FirstEnergy Corp.’s dividend payout ratio (DPR) is -103.60%.
Several large investors have recently made changes to their positions in the company. Signature Estate & Investment Advisors LLC acquired a new stake in shares of FirstEnergy Corp. during the second quarter valued at $126,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of FirstEnergy Corp. by 19.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,700 shares of the company’s stock valued at $129,000 after buying an additional 600 shares during the period. Assetmark Inc. increased its stake in shares of FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock valued at $141,000 after buying an additional 3,714 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock valued at $160,000 after buying an additional 281 shares during the period. Finally, City Holding Co. increased its stake in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock valued at $170,000 after buying an additional 782 shares during the period. Institutional investors and hedge funds own 75.93% of the company’s stock.
FirstEnergy Corp. Company Profile
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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