Analysts Set FirstEnergy Corporation (FE) Target Price at $33.85
Shares of FirstEnergy Corporation (NYSE:FE) have been given a consensus rating of “Hold” by the eighteen analysts that are presently covering the stock, MarketBeat.com reports. Twelve investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $34.10.
FE has been the subject of several research reports. Zacks Investment Research cut FirstEnergy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 8th. Deutsche Bank AG reaffirmed a “hold” rating and set a $34.00 price objective (up from $31.00) on shares of FirstEnergy Corporation in a report on Monday, July 31st. Barclays PLC reaffirmed an “overweight” rating and set a $37.00 price objective (up from $36.00) on shares of FirstEnergy Corporation in a report on Monday, June 19th. Morgan Stanley set a $38.00 price objective on FirstEnergy Corporation and gave the stock a “buy” rating in a report on Tuesday, July 4th. Finally, BidaskClub raised FirstEnergy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Patriot Financial Group Insurance Agency LLC raised its holdings in shares of FirstEnergy Corporation by 22.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,633 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 658 shares during the last quarter. Archford Capital Strategies LLC grew its position in shares of FirstEnergy Corporation by 2,045.8% in the second quarter. Archford Capital Strategies LLC now owns 4,077 shares of the utilities provider’s stock valued at $262,000 after purchasing an additional 3,887 shares during the period. Oppenheimer Asset Management Inc. purchased a new stake in shares of FirstEnergy Corporation in the first quarter valued at $139,000. Sandy Spring Bank grew its position in shares of FirstEnergy Corporation by 1.9% in the first quarter. Sandy Spring Bank now owns 5,075 shares of the utilities provider’s stock valued at $161,000 after purchasing an additional 97 shares during the period. Finally, City Holding Co. grew its position in shares of FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 400 shares during the period. 79.86% of the stock is owned by institutional investors.
FirstEnergy Corporation (NYSE:FE) traded up 0.93% on Wednesday, reaching $32.51. The company had a trading volume of 3,403,548 shares. The company’s 50-day moving average is $32.24 and its 200-day moving average is $30.69. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $34.96. The company’s market capitalization is $14.44 billion.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.61. The firm had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. FirstEnergy Corporation’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 earnings per share. Equities analysts anticipate that FirstEnergy Corporation will post $2.82 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Monday, August 7th were issued a $0.36 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.43%. FirstEnergy Corporation’s dividend payout ratio (DPR) is -12.31%.
FirstEnergy Corporation Company Profile
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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