FirstEnergy Corp. (FE) Debt Trading 1% Higher
An issue of FirstEnergy Corp. (NYSE:FE) bonds rose 1% as a percentage of their face value during trading on Thursday. The debt issue has a 6.05% coupon and is set to mature on August 15, 2021. The debt is now trading at $37.00 and was trading at $37.00 last week. Price changes in a company’s bonds in credit markets sometimes anticipate parallel changes in its stock price.
Several equities analysts have weighed in on FE shares. Barclays PLC set a $36.00 price target on FirstEnergy Corp. and gave the stock a “hold” rating in a research report on Saturday, September 17th. Deutsche Bank AG raised FirstEnergy Corp. from a “hold” rating to a “buy” rating and dropped their price target for the stock from $38.00 to $37.00 in a research report on Tuesday, October 25th. Royal Bank Of Canada dropped their price target on FirstEnergy Corp. from $38.00 to $36.00 and set a “sector perform” rating for the company in a research report on Thursday, October 13th. Vetr downgraded FirstEnergy Corp. from a “strong-buy” rating to a “buy” rating and set a $35.82 price target for the company. in a research report on Tuesday, November 15th. Finally, Jefferies Group reissued a “hold” rating and set a $34.50 price target (up previously from $34.00) on shares of FirstEnergy Corp. in a research report on Tuesday, October 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.19.
Shares of FirstEnergy Corp. (NYSE:FE) traded down 1.29% during midday trading on Thursday, hitting $31.49. The stock had a trading volume of 4,596,116 shares. The firm’s market cap is $13.41 billion. The firm has a 50-day moving average price of $32.59 and a 200-day moving average price of $33.42. FirstEnergy Corp. has a 1-year low of $30.29 and a 1-year high of $36.60.
FirstEnergy Corp. (NYSE:FE) last issued its earnings results on Friday, November 4th. The company reported $0.90 EPS for the quarter, topping the Thomson Reuters’ 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 period in the previous year, the firm earned $0.98 earnings per share. On average, equities analysts anticipate that FirstEnergy Corp. will post $2.64 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 given a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 annualized dividend and a dividend yield of 4.57%. FirstEnergy Corp.’s dividend payout ratio (DPR) is presently -100.70%.
Several hedge funds have recently modified their holdings of the company. Security National Trust Co. boosted 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 valued at $101,000 after buying an additional 2,742 shares during the period. Signature Estate & Investment Advisors LLC acquired a new stake in shares of FirstEnergy Corp. during the second quarter valued at approximately $126,000. FUKOKU MUTUAL LIFE INSURANCE Co boosted 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. boosted 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. Finally, Checchi Capital Advisers LLC boosted 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. 74.53% of the stock is owned by institutional investors and hedge funds.
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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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