FirstEnergy (NYSE:FE) had its price objective raised by Morgan Stanley from $37.00 to $38.00 in a research report report published on Tuesday. The firm currently has a buy rating on the utilities provider’s stock.
Several other brokerages have also recently commented on FE. Bank of America upgraded shares of FirstEnergy from a neutral rating to a buy rating and increased their target price for the stock from $32.09 to $36.00 in a report on Friday, January 26th. UBS started coverage on shares of FirstEnergy in a report on Friday, February 2nd. They set a buy rating and a $39.00 target price for the company. Zacks Investment Research cut shares of FirstEnergy from a buy rating to a hold rating in a report on Tuesday, January 9th. Guggenheim restated a buy rating and set a $47.00 target price on shares of FirstEnergy in a report on Wednesday, January 3rd. Finally, Citigroup reduced their target price on shares of FirstEnergy from $34.00 to $32.00 and set a neutral rating for the company in a report on Tuesday, January 30th. Nine investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. FirstEnergy currently has a consensus rating of Buy and a consensus price target of $35.62.
Shares of FE opened at $34.29 on Tuesday. FirstEnergy has a 12 month low of $27.93 and a 12 month high of $35.56. The firm has a market cap of $16,407.85, a P/E ratio of 11.17, a price-to-earnings-growth ratio of 14.56 and a beta of 0.26. The company has a quick ratio of 0.65, a current ratio of 0.46 and a debt-to-equity ratio of 2.27.
FirstEnergy (NYSE:FE) last announced its earnings results on Monday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a positive return on equity of 22.37% and a negative net margin of 5.33%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the company posted $0.78 EPS. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. equities research analysts predict that FirstEnergy will post 2.37 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders 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 yield of 4.20%. The ex-dividend date of this dividend is Friday, May 4th. FirstEnergy’s dividend payout ratio (DPR) is currently 46.91%.
A number of hedge funds and other institutional investors have recently bought and sold shares of FE. Baker Ellis Asset Management LLC bought a new stake in FirstEnergy during the fourth quarter worth $122,000. Tower Research Capital LLC TRC raised its position in FirstEnergy by 344.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 3,714 shares in the last quarter. Commerzbank Aktiengesellschaft FI bought a new stake in FirstEnergy during the fourth quarter worth $228,000. Farmers Trust Co. bought a new stake in FirstEnergy during the fourth quarter worth $251,000. Finally, Steward Partners Investment Advisory LLC raised its position in FirstEnergy by 352.4% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 8,673 shares of the utilities provider’s stock worth $265,000 after acquiring an additional 6,756 shares in the last quarter. 78.69% of the stock is currently owned by hedge funds and other institutional investors.
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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.
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