Shares of FirstEnergy Corp. (NYSE:FE – Get 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 %
FirstEnergy (NYSE:FE – Get 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%.
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.
- Get a free copy of the StockNews.com research report on FirstEnergy (FE)
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