FirstEnergy (FE) Given Average Recommendation of “Buy” by Analysts

Shares of FirstEnergy (NYSE:FE) have received a consensus recommendation of “Buy” from the eighteen brokerages that are presently covering the company, MarketBeat.com reports. Nine research analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $36.30.

A number of research analysts recently weighed in on FE shares. Bank of America raised FirstEnergy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $32.09 to $36.00 in a report on Friday, January 26th. UBS assumed coverage on FirstEnergy in a research note on Friday, February 2nd. They issued a “buy” rating and a $39.00 price target for the company. Morgan Stanley set a $35.00 price target on FirstEnergy and gave the company a “buy” rating in a research note on Thursday, March 8th. Zacks Investment Research downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. Finally, Guggenheim restated a “buy” rating and issued a $47.00 price target on shares of FirstEnergy in a research note on Wednesday, January 3rd.

Shares of FE stock traded up $0.07 during trading on Thursday, reaching $34.57. 3,154,063 shares of the company’s stock were exchanged, compared to its average volume of 7,214,626. The company has a current ratio of 0.76, a quick ratio of 0.65 and a debt-to-equity ratio of 5.38. The firm has a market capitalization of $16,379.31, a PE ratio of 11.24, a PEG ratio of 14.51 and a beta of 0.26. FirstEnergy has a twelve month low of $27.93 and a twelve month high of $35.56.

FirstEnergy (NYSE:FE) last posted its earnings results on Monday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a positive return on equity of 24.02% and a negative net margin of 12.30%. The firm’s revenue was down 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 earnings per share. sell-side analysts predict that FirstEnergy will post 2.37 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, May 4th. This represents a $1.44 annualized dividend and a yield of 4.17%. FirstEnergy’s dividend payout ratio (DPR) is presently 46.91%.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of FirstEnergy by 2.8% during the 4th quarter. BlackRock Inc. now owns 52,723,417 shares of the utilities provider’s stock valued at $1,614,390,000 after acquiring an additional 1,431,172 shares during the period. LSV Asset Management lifted its position in shares of FirstEnergy by 3.7% during the 4th quarter. LSV Asset Management now owns 15,371,131 shares of the utilities provider’s stock valued at $470,664,000 after acquiring an additional 549,221 shares during the period. Renaissance Technologies LLC lifted its position in shares of FirstEnergy by 46.3% during the 4th quarter. Renaissance Technologies LLC now owns 9,391,408 shares of the utilities provider’s stock valued at $287,565,000 after acquiring an additional 2,972,400 shares during the period. TIAA CREF Investment Management LLC lifted its position in shares of FirstEnergy by 14.2% during the 4th quarter. TIAA CREF Investment Management LLC now owns 7,353,403 shares of the utilities provider’s stock valued at $225,161,000 after acquiring an additional 914,046 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of FirstEnergy by 4.5% during the 4th quarter. Geode Capital Management LLC now owns 5,901,224 shares of the utilities provider’s stock valued at $180,395,000 after acquiring an additional 254,123 shares during the period. Hedge funds and other institutional investors own 78.69% of the company’s stock.

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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.

Analyst Recommendations for FirstEnergy (NYSE:FE)

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