FirstEnergy (FE) – Investment Analysts’ Recent Ratings Changes

FirstEnergy (NYSE: FE) has recently received a number of price target changes and ratings updates:

• 10/22/2024 – FirstEnergy had its price target raised by analysts at KeyCorp from $47.00 to $48.00. They now have an “overweight” rating on the stock.
• 10/18/2024 – FirstEnergy had its price target raised by analysts at JPMorgan Chase & Co. from $45.00 to $46.00. They now have a “neutral” rating on the stock.
• 10/14/2024 – FirstEnergy is now covered by analysts at Jefferies Financial Group Inc.. They set a “hold” rating and a $46.00 price target on the stock.
• 10/7/2024 – FirstEnergy had its price target raised by analysts at Barclays PLC from $40.00 to $46.00. They now have an “equal weight” rating on the stock.
• 9/30/2024 – FirstEnergy had its price target raised by analysts at KeyCorp from $46.00 to $47.00. They now have an “overweight” rating on the stock.
• 9/25/2024 – FirstEnergy had its price target raised by analysts at Morgan Stanley from $48.00 to $51.00. They now have an “overweight” rating on the stock.
• 9/20/2024 – FirstEnergy was upgraded by analysts at Argus from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock.
• 9/16/2024 – FirstEnergy had its price target raised by analysts at KeyCorp from $45.00 to $46.00. They now have an “overweight” rating on the stock.
• 8/29/2024 – FirstEnergy had its price target raised by analysts at Bank of America Co. from $42.00 to $43.00. They now have an “underperform” rating on the stock.

FirstEnergy Stock Up 1.0 %

FE opened at $44.27 on Thursday. FirstEnergy Corp. has a 1 year low of $34.91 and a 1 year high of $44.97. The firm has a 50 day moving average price of $43.63 and a 200 day moving average price of $40.86. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51. The company has a market cap of $25.48 billion, a PE ratio of 25.44, a price-to-earnings-growth ratio of 2.30 and a beta of 0.50.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The company had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. Sell-side analysts expect that FirstEnergy Corp. will post 2.7 earnings per share for the current year.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.84%. FirstEnergy’s payout ratio is currently 97.70%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in FE. Capital World Investors grew its stake in shares of FirstEnergy by 14.3% during the first quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock valued at $3,009,615,000 after acquiring an additional 9,773,785 shares in the last quarter. Boston Partners boosted its holdings in FirstEnergy by 2.3% in the first quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock valued at $367,423,000 after purchasing an additional 218,165 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in FirstEnergy by 5.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after purchasing an additional 457,231 shares in the last quarter. First Pacific Advisors LP increased its holdings in FirstEnergy by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock worth $136,152,000 after purchasing an additional 69,512 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in shares of FirstEnergy by 7.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock valued at $104,288,000 after purchasing an additional 193,540 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

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