Analysts Set FirstEnergy (FE) PT at $36.20

Shares of FirstEnergy (NYSE:FE) have been given a consensus recommendation of “Buy” by the eighteen analysts that are currently covering the firm, MarketBeat.com reports. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month target price among analysts that have covered the stock in the last year is $36.20.

FE has been the topic of a number of research reports. Morgan Stanley lifted their price objective on FirstEnergy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, April 16th. UBS initiated coverage on FirstEnergy in a research note on Friday, February 2nd. They issued a “buy” rating and a $39.00 price objective on the stock. Guggenheim reaffirmed a “buy” rating and issued a $47.00 price objective on shares of FirstEnergy in a research note on Wednesday, January 3rd. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, January 2nd. Finally, Bank of America raised FirstEnergy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $32.09 to $36.00 in a research note on Friday, January 26th.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Ameriprise Financial Inc. increased its position in shares of FirstEnergy by 13.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 178,334 shares of the utilities provider’s stock valued at $5,497,000 after purchasing an additional 20,584 shares during the last quarter. OppenheimerFunds Inc. boosted its holdings in FirstEnergy by 16.7% during the 4th quarter. OppenheimerFunds Inc. now owns 701,790 shares of the utilities provider’s stock valued at $21,489,000 after acquiring an additional 100,303 shares during the period. TIAA FSB boosted its holdings in FirstEnergy by 48.1% during the 4th quarter. TIAA FSB now owns 19,364 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 6,287 shares during the period. GSA Capital Partners LLP purchased a new position in FirstEnergy during the 3rd quarter valued at $1,361,000. Finally, PGGM Investments boosted its holdings in FirstEnergy by 196.2% during the 4th quarter. PGGM Investments now owns 1,234,200 shares of the utilities provider’s stock valued at $37,791,000 after acquiring an additional 817,557 shares during the period. 78.76% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:FE traded down $0.43 during trading hours on Thursday, reaching $34.44. The stock had a trading volume of 4,231,207 shares, compared to its average volume of 4,530,443. The company has a debt-to-equity ratio of 5.38, a current ratio of 0.76 and a quick ratio of 0.65. FirstEnergy has a 52 week low of $27.93 and a 52 week high of $35.52. The company has a market cap of $16,379.32, a price-to-earnings ratio of 11.22, a PEG ratio of 14.51 and a beta of 0.26.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.03. FirstEnergy had a positive return on equity of 24.02% and a negative net margin of 12.30%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter in the previous year, the company posted $0.38 EPS. The company’s revenue was up .0% compared to the same quarter last year. analysts anticipate that FirstEnergy will post 2.37 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Monday, May 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.18%. The ex-dividend date of this dividend is Friday, May 4th. FirstEnergy’s dividend payout ratio is currently 46.91%.

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FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

Analyst Recommendations for FirstEnergy (NYSE:FE)

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