FirstEnergy Corp. (FE) Rating Increased to Strong-Buy at Vetr Inc.
FirstEnergy Corp. (NYSE:FE) was upgraded by equities researchers at Vetr from a “buy” rating to a “strong-buy” rating in a report issued on Friday. The brokerage currently has a $36.00 price objective on the stock. Vetr‘s price objective would suggest a potential upside of 13.07% from the stock’s current price.
Other analysts also recently issued reports about the company. Barclays PLC set a $36.00 target price on FirstEnergy Corp. and gave the stock a “hold” rating in a research report on Saturday, September 17th. Jefferies Group reiterated a “hold” rating and set a $34.00 target price (down from $36.00) on shares of FirstEnergy Corp. in a research report on Tuesday, October 18th. Goldman Sachs Group Inc. downgraded FirstEnergy Corp. from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $36.00 to $31.00 in a research report on Tuesday, July 26th. Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $41.00 to $40.00 in a research report on Monday, August 8th. Finally, Morgan Stanley upgraded FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $38.00 to $41.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, six have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. FirstEnergy Corp. presently has a consensus rating of “Hold” and an average target price of $36.20.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 31.84 on Friday. The company’s 50-day moving average is $32.92 and its 200 day moving average is $33.52. The stock’s market capitalization is $13.56 billion. FirstEnergy Corp. has a 12 month low of $29.62 and a 12 month high of $36.60.
FirstEnergy Corp. (NYSE:FE) last released its earnings results on Friday, November 4th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.14. FirstEnergy Corp. had a positive return on equity of 10.06% and a negative net margin of 4.12%. During the same quarter in the prior year, the business earned $0.98 earnings per share. Equities research analysts predict that FirstEnergy Corp. will post $2.64 earnings per share for the current year.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 4.52%. FirstEnergy Corp.’s payout ratio is -100.70%.
Several large investors have recently modified their holdings of FE. Security National Trust Co. raised its stake in shares of FirstEnergy Corp. by 914.0% in the third quarter. Security National Trust Co. now owns 3,042 shares of the company’s stock worth $101,000 after buying an additional 2,742 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new stake in shares of FirstEnergy Corp. during the second quarter worth approximately $126,000. FUKOKU MUTUAL LIFE INSURANCE Co raised 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 worth $129,000 after buying an additional 600 shares in the last quarter. Assetmark Inc. raised 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 worth $141,000 after buying an additional 3,714 shares in the last quarter. Finally, Checchi Capital Advisers LLC raised 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 worth $160,000 after buying an additional 281 shares in the last quarter. Institutional investors and hedge funds own 74.29% of the company’s stock.
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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