Brokerages Set FirstEnergy Corp. (NYSE:FE) PT at $39.80

FirstEnergy Corp. (NYSE:FE) has earned a consensus recommendation of “Hold” from the nine analysts that are covering the company, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $39.80.

Several research analysts have recently issued reports on FE shares. The Goldman Sachs Group assumed coverage on FirstEnergy in a research note on Wednesday, April 10th. They set a “buy” rating and a $45.00 price target for the company. StockNews.com upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. Bank of America raised their price objective on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday, April 23rd. Finally, Scotiabank lowered their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd.

FirstEnergy Stock Up 0.3 %

FE stock opened at $38.95 on Friday. The stock has a market capitalization of $22.42 billion, a PE ratio of 22.39 and a beta of 0.48. The company has a fifty day moving average of $38.02 and a 200-day moving average of $37.27. 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 one year low of $32.18 and a one year high of $40.42.

FirstEnergy (NYSE:FE) last issued its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the business posted $0.50 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. As a group, analysts expect that FirstEnergy will post 2.68 EPS for the current year.

FirstEnergy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.425 per share. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Monday, May 6th. FirstEnergy’s payout ratio is presently 94.25%.

Institutional Trading of FirstEnergy

Large investors have recently modified their holdings of the business. FinTrust Capital Advisors LLC raised its holdings in FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 610 shares in the last quarter. Sachetta LLC bought a new stake in shares of FirstEnergy in the 4th quarter worth about $25,000. Sugarloaf Wealth Management LLC acquired a new stake in shares of FirstEnergy in the 4th quarter valued at about $29,000. Scarborough Advisors LLC bought a new position in shares of FirstEnergy during the fourth quarter worth about $31,000. Finally, Blue Trust Inc. lifted its position in shares of FirstEnergy by 327.3% during the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 792 shares during the last quarter. 89.41% of the stock is currently 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.