An issue of FirstEnergy Corporation (NYSE:FE) debt rose 1.8% as a percentage of its face value during trading on Friday. The high-yield issue of debt has a 6.85% coupon and is set to mature on June 1, 2034. The debt is now trading at $44.75 and was trading at $45.00 one week ago. Price moves in a company’s debt in credit markets often anticipate parallel moves in its share price.

Several equities analysts have recently issued reports on FE shares. Wolfe Research raised FirstEnergy Corporation from an “underperform” rating to a “market perform” rating and boosted their price objective for the company from $30.00 to $32.00 in a report on Monday, June 26th. Goldman Sachs Group, Inc. (The) cut FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a report on Monday, June 26th. Zacks Investment Research cut FirstEnergy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Morgan Stanley set a $38.00 price objective on FirstEnergy Corporation and gave the company a “buy” rating in a report on Tuesday, July 4th. Finally, Tudor Pickering raised FirstEnergy Corporation from a “trim” rating to a “hold” rating in a report on Friday, July 14th. Twelve investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $34.48.

FirstEnergy Corporation (FE) traded down 0.53% during midday trading on Friday, reaching $32.13. The company’s stock had a trading volume of 3,054,639 shares. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $34.83. The firm’s market capitalization is $14.28 billion. The company’s 50-day moving average is $31.59 and its 200 day moving average is $30.71.

FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the firm earned $0.56 EPS. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. Analysts expect that FirstEnergy Corporation will post $2.82 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.48%. FirstEnergy Corporation’s payout ratio is -12.31%.

Hedge funds have recently bought and sold shares of the company. Patriot Financial Group Insurance Agency LLC increased its stake in shares of FirstEnergy Corporation by 22.1% during the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,633 shares of the utilities provider’s stock worth $106,000 after purchasing an additional 658 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in shares of FirstEnergy Corporation during the 1st quarter worth approximately $139,000. Sandy Spring Bank increased its stake in shares of FirstEnergy Corporation by 1.3% during the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock worth $150,000 after purchasing an additional 66 shares in the last quarter. City Holding Co. increased its stake in shares of FirstEnergy Corporation by 8.2% during the 2nd quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock worth $153,000 after purchasing an additional 400 shares in the last quarter. Finally, Cubist Systematic Strategies LLC purchased a new position in shares of FirstEnergy Corporation during the 2nd quarter worth approximately $215,000. Institutional investors own 80.02% of the company’s stock.

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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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