FirstEnergy (NYSE:FE) Upgraded at StockNews.com

StockNews.com upgraded shares of FirstEnergy (NYSE:FE) from a sell rating to a hold rating in a research note released on Monday morning.

A number of other analysts have also weighed in on the stock. The Goldman Sachs Group started coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They set a buy rating and a $45.00 target price on the stock. Scotiabank dropped their price target on shares of FirstEnergy from $41.00 to $40.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. KeyCorp increased their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company an overweight rating in a research note on Thursday, January 4th. Finally, Bank of America increased their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the company an underperform rating in a research note on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $39.80.

FirstEnergy Stock Up 0.9 %

FE stock opened at $38.70 on Monday. The company’s 50 day moving average price is $37.90 and its 200 day moving average price is $37.20. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.56 and a current ratio of 0.65. FirstEnergy has a fifty-two week low of $32.18 and a fifty-two week high of $40.42. The firm has a market capitalization of $22.27 billion, a price-to-earnings ratio of 22.24 and a beta of 0.48.

FirstEnergy (NYSE:FE) last released its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the firm earned $0.50 earnings per share. The business’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that FirstEnergy will post 2.68 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a $0.425 dividend. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a dividend yield of 4.39%. The ex-dividend date is Monday, May 6th. FirstEnergy’s dividend payout ratio is presently 94.25%.

Institutional Investors Weigh In On FirstEnergy

Several large investors have recently modified their holdings of FE. Toews Corp ADV acquired a new stake in shares of FirstEnergy in the third quarter valued at approximately $766,000. Xponance Inc. lifted its holdings in shares of FirstEnergy by 1.1% during the third quarter. Xponance Inc. now owns 69,589 shares of the utilities provider’s stock worth $2,379,000 after purchasing an additional 759 shares during the period. Raymond James & Associates lifted its holdings in shares of FirstEnergy by 8.4% during the third quarter. Raymond James & Associates now owns 499,539 shares of the utilities provider’s stock worth $17,074,000 after purchasing an additional 38,520 shares during the period. Stratos Wealth Partners LTD. lifted its holdings in shares of FirstEnergy by 24.2% during the third quarter. Stratos Wealth Partners LTD. now owns 20,723 shares of the utilities provider’s stock worth $708,000 after purchasing an additional 4,034 shares during the period. Finally, Independent Advisor Alliance lifted its holdings in shares of FirstEnergy by 262.7% during the third quarter. Independent Advisor Alliance now owns 20,730 shares of the utilities provider’s stock worth $709,000 after purchasing an additional 15,015 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

About FirstEnergy

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, wind, and solar power generating facilities.