BidaskClub upgraded shares of FirstEnergy Corporation (NYSE:FE) from a sell rating to a hold rating in a report published on Monday, July 24th.
FE has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) downgraded shares of FirstEnergy Corporation from a positive rating to a neutral rating in a report on Monday, June 26th. Citigroup Inc. reissued a neutral rating and set a $34.00 price objective (up previously from $32.00) on shares of FirstEnergy Corporation in a report on Saturday, April 22nd. Barclays PLC raised shares of FirstEnergy Corporation from an equal weight rating to an overweight rating and decreased their price objective for the stock from $38.00 to $36.00 in a report on Monday, May 1st. Tudor Pickering raised shares of FirstEnergy Corporation from a trim rating to a hold rating in a report on Friday, July 14th. Finally, Morgan Stanley decreased their price objective on shares of FirstEnergy Corporation from $40.00 to $39.00 and set an overweight rating on the stock in a report on Monday, May 8th. One analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $34.09.
Shares of FirstEnergy Corporation (FE) traded up 0.03% on Monday, reaching $32.07. 3,875,957 shares of the company were exchanged. The company’s market capitalization is $14.25 billion. The stock has a 50 day moving average of $30.08 and a 200-day moving average of $30.27. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $34.96.
FirstEnergy Corporation (NYSE:FE) last released its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.38 billion. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.56 earnings per share. On average, analysts predict that FirstEnergy Corporation will post $2.81 EPS for the current fiscal year.
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 paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.49%. The ex-dividend date of this dividend is Thursday, August 3rd. FirstEnergy Corporation’s payout ratio is -12.31%.
Institutional investors have recently made changes to their positions in the stock. Federated Investors Inc. PA increased its position in shares of FirstEnergy Corporation by 21.7% in the second quarter. Federated Investors Inc. PA now owns 80,711 shares of the utilities provider’s stock valued at $2,354,000 after buying an additional 14,381 shares during the last quarter. Marshall Wace North America L.P. bought a new position in shares of FirstEnergy Corporation during the second quarter valued at approximately $9,931,000. BB&T Securities LLC raised its position in shares of FirstEnergy Corporation by 143.2% in the second quarter. BB&T Securities LLC now owns 94,459 shares of the utilities provider’s stock valued at $2,754,000 after buying an additional 55,614 shares during the period. Douglass Winthrop Advisors LLC raised its position in shares of FirstEnergy Corporation by 79.1% in the second quarter. Douglass Winthrop Advisors LLC now owns 30,560 shares of the utilities provider’s stock valued at $891,000 after buying an additional 13,500 shares during the period. Finally, Comerica Bank raised its position in shares of FirstEnergy Corporation by 0.7% in the second quarter. Comerica Bank now owns 110,199 shares of the utilities provider’s stock valued at $3,444,000 after buying an additional 813 shares during the period. 77.83% of the stock is currently owned by institutional investors and hedge funds.
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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