ValuEngine upgraded shares of FirstEnergy Corporation (NYSE:FE) from a hold rating to a buy rating in a report issued on Monday.
Other research analysts have also recently issued research reports about the company. Zacks Investment Research upgraded FirstEnergy Corporation from a hold rating to a buy rating and set a $33.00 price objective on the stock in a research note on Thursday, June 22nd. Morgan Stanley set a $38.00 price objective on FirstEnergy Corporation and gave the stock a buy rating in a research note on Tuesday, July 4th. Barclays PLC restated an equal weight rating and set a $38.00 price objective (up previously from $35.00) on shares of FirstEnergy Corporation in a research note on Sunday, April 23rd. Jefferies Group LLC reduced their price objective on FirstEnergy Corporation from $32.00 to $31.00 and set a hold rating on the stock in a research note on Monday, May 1st. Finally, Tudor Pickering upgraded FirstEnergy Corporation from a trim rating to a hold rating in a research note on Friday, July 14th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of Hold and a consensus price target of $34.09.
FirstEnergy Corporation (FE) traded up 0.60% on Monday, hitting $31.98. The stock had a trading volume of 624,695 shares. The firm’s market cap is $14.21 billion. FirstEnergy Corporation has a 12-month low of $27.93 and a 12-month high of $34.96. The company’s 50 day moving average is $30.08 and its 200 day moving average is $30.27.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The company had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.56 earnings per share. On average, equities research analysts expect that FirstEnergy Corporation will post $2.81 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.53%. The ex-dividend date is Thursday, August 3rd. FirstEnergy Corporation’s dividend payout ratio is currently -12.31%.
Hedge funds have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. purchased a new stake in shares of FirstEnergy Corporation during the first quarter valued at $139,000. City Holding Co. raised its stake in shares of FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock valued at $153,000 after buying an additional 400 shares in the last quarter. Sandy Spring Bank raised its stake in shares of FirstEnergy Corporation by 1.9% in the first quarter. Sandy Spring Bank now owns 5,075 shares of the utilities provider’s stock valued at $161,000 after buying an additional 97 shares in the last quarter. Ledyard National Bank purchased a new stake in shares of FirstEnergy Corporation during the first quarter valued at $174,000. Finally, Campbell & CO Investment Adviser LLC purchased a new stake in shares of FirstEnergy Corporation during the first quarter valued at $215,000. 78.11% of the stock is owned by hedge funds and other institutional investors.
About FirstEnergy Corporation
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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