FirstEnergy Corp. (NYSE:FE) has received an average recommendation of “Buy” from the ten ratings firms that are currently covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, one has issued a hold recommendation and seven have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $44.00.
FE has been the topic of a number of recent research reports. KeyCorp reiterated an “overweight” rating and issued a $46.00 price objective on shares of FirstEnergy in a report on Wednesday, June 5th. Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price for the company. in a research note on Tuesday, July 2nd. Mizuho decreased their target price on shares of FirstEnergy from $48.00 to $46.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, TheStreet cut shares of FirstEnergy from a “b” rating to a “f” rating in a research note on Thursday, July 18th.
Shares of NYSE FE traded down $0.49 during midday trading on Wednesday, reaching $43.69. The company’s stock had a trading volume of 1,841,050 shares, compared to its average volume of 4,313,837. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.60 and a quick ratio of 0.53. FirstEnergy has a fifty-two week low of $35.33 and a fifty-two week high of $44.75. The company has a market cap of $23.41 billion, a PE ratio of 16.87, a price-to-earnings-growth ratio of 2.95 and a beta of 0.27. The stock has a 50 day simple moving average of $43.68.
FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same period last year, the company earned $0.62 earnings per share. The firm’s revenue was down 3.8% compared to the same quarter last year. On average, research analysts predict that FirstEnergy will post 2.5 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.48%. FirstEnergy’s dividend payout ratio is presently 58.69%.
In other news, Director Christopher D. Pappas bought 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The stock was acquired at an average cost of $41.14 per share, with a total value of $123,420.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.32% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. Pearl River Capital LLC bought a new position in FirstEnergy during the second quarter worth $25,000. Clean Yield Group raised its stake in FirstEnergy by 1,184.0% in the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 592 shares in the last quarter. Horan Securities Inc. acquired a new position in FirstEnergy in the second quarter valued at about $28,000. Meeder Asset Management Inc. raised its stake in FirstEnergy by 805.3% in the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 604 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in FirstEnergy in the first quarter valued at about $30,000. 93.57% of the stock is owned by institutional investors and hedge funds.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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