Other analysts have also issued reports about the company. Wolfe Research upgraded FirstEnergy from a peer perform rating to an outperform rating in a report on Monday, January 29th. Zacks Investment Research lowered FirstEnergy from a hold rating to a sell rating in a report on Monday, January 15th. UBS Group assumed coverage on FirstEnergy in a report on Friday, February 2nd. They issued a buy rating and a $39.00 price target on the stock. ValuEngine raised FirstEnergy from a hold rating to a buy rating in a research report on Wednesday, November 15th. Finally, Bank of America raised FirstEnergy from a neutral rating to a buy rating and lifted their target price for the company from $32.09 to $36.00 in a research report on Friday, January 26th. Nine equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. FirstEnergy currently has an average rating of Buy and an average target price of $35.29.
Shares of FirstEnergy (NYSE FE) opened at $32.65 on Thursday. The company has a market capitalization of $15,528.01, a PE ratio of -8.41, a PEG ratio of 13.51 and a beta of 0.34. FirstEnergy has a twelve month low of $27.93 and a twelve month high of $35.22. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 5.38.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 1st. Investors of record on Wednesday, February 7th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.41%. The ex-dividend date of this dividend was Tuesday, February 6th. FirstEnergy’s dividend payout ratio is currently -37.11%.
Several large investors have recently added to or reduced their stakes in FE. Renaissance Technologies LLC increased its position in FirstEnergy by 46.3% during the fourth quarter. Renaissance Technologies LLC now owns 9,391,408 shares of the utilities provider’s stock worth $287,565,000 after buying an additional 2,972,400 shares during the last quarter. NWQ Investment Management Company LLC acquired a new position in FirstEnergy during the third quarter worth approximately $70,441,000. APG Asset Management N.V. increased its position in FirstEnergy by 91.7% during the fourth quarter. APG Asset Management N.V. now owns 3,795,477 shares of the utilities provider’s stock worth $96,783,000 after buying an additional 1,816,000 shares during the last quarter. Millennium Management LLC increased its position in FirstEnergy by 93.9% during the fourth quarter. Millennium Management LLC now owns 3,741,300 shares of the utilities provider’s stock worth $114,559,000 after buying an additional 1,811,350 shares during the last quarter. Finally, BlackRock Inc. increased its position in FirstEnergy by 2.8% during the fourth quarter. BlackRock Inc. now owns 52,723,417 shares of the utilities provider’s stock worth $1,614,390,000 after buying an additional 1,431,172 shares during the last quarter. 78.75% of the stock is currently owned by institutional investors and hedge funds.
FirstEnergy Company Profile
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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