FirstEnergy Corp. (NYSE:FE) Receives Consensus Recommendation of “Hold” from Analysts

Shares of FirstEnergy Corp. (NYSE:FEGet Rating) have been assigned an average recommendation of “Hold” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. Four analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year target price among brokerages that have covered the stock in the last year is $43.25.

Several equities analysts have weighed in on FE shares. Guggenheim dropped their target price on FirstEnergy from $43.00 to $34.00 in a research report on Monday, October 24th. Morgan Stanley lifted their target price on FirstEnergy from $45.00 to $47.00 and gave the company an “overweight” rating in a research report on Thursday, December 15th. StockNews.com initiated coverage on FirstEnergy in a research report on Wednesday, October 12th. They set a “hold” rating for the company. KeyCorp lowered their price objective on FirstEnergy from $47.00 to $44.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Finally, Wells Fargo & Company boosted their price objective on FirstEnergy to $45.00 in a research report on Wednesday, December 14th.

Institutional Investors Weigh In On FirstEnergy

Several institutional investors have recently added to or reduced their stakes in FE. Boston Partners purchased a new stake in FirstEnergy during the third quarter worth approximately $325,878,000. Vanguard Group Inc. lifted its stake in FirstEnergy by 7.0% during the first quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock worth $3,128,322,000 after purchasing an additional 4,443,050 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in FirstEnergy during the second quarter worth approximately $104,167,000. Price T Rowe Associates Inc. MD lifted its stake in FirstEnergy by 20.0% in the third quarter. Price T Rowe Associates Inc. MD now owns 13,877,738 shares of the utilities provider’s stock valued at $513,478,000 after buying an additional 2,315,790 shares during the last quarter. Finally, Millennium Management LLC lifted its stake in FirstEnergy by 217.6% in the second quarter. Millennium Management LLC now owns 2,924,182 shares of the utilities provider’s stock valued at $112,259,000 after buying an additional 2,003,336 shares during the last quarter. Hedge funds and other institutional investors own 81.80% of the company’s stock.

FirstEnergy Stock Down 0.8 %

Shares of NYSE:FE opened at $42.73 on Friday. The company has a market capitalization of $24.43 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 2.70 and a beta of 0.45. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 1.86. The business has a 50-day moving average price of $40.76 and a 200 day moving average price of $39.53. FirstEnergy has a 12-month low of $35.32 and a 12-month high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last released its earnings results on Tuesday, October 25th. The utilities provider reported $0.79 earnings per share for the quarter, beating the consensus estimate of $0.77 by $0.02. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.14 billion. FirstEnergy had a return on equity of 13.76% and a net margin of 10.35%. FirstEnergy’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. Sell-side analysts expect that FirstEnergy will post 2.43 EPS for the current year.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 7th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Monday, February 6th. FirstEnergy’s payout ratio is 71.23%.

About FirstEnergy

(Get Rating)

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, natural gas, wind, and solar power generating facilities.

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Analyst Recommendations for FirstEnergy (NYSE:FE)

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