FirstEnergy Corp. (FE) Hits New 52-Week High at $36.59
FirstEnergy Corp. (NYSE:FE) shares hit a new 52-week high during mid-day trading on Friday . The company traded as high as $36.59 and last traded at $36.57, with a volume of 2,924,080 shares changing hands. The stock had previously closed at $35.96.
A number of research firms have recently weighed in on FE. Royal Bank Of Canada downgraded shares of FirstEnergy Corp. from an “outperform” rating to a “sector perform” rating and set a $33.00 target price on the stock. in a research report on Thursday, April 28th. Barclays PLC downgraded shares of FirstEnergy Corp. from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $39.00 to $33.00 in a research report on Saturday, April 23rd. Morgan Stanley reaffirmed a “hold” rating on shares of FirstEnergy Corp. in a research report on Sunday, May 8th. Deutsche Bank AG reduced their target price on shares of FirstEnergy Corp. from $39.00 to $37.00 and set a “hold” rating on the stock in a research report on Monday, April 25th. Finally, Zacks Investment Research downgraded shares of FirstEnergy Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 3rd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $35.18.
The company has a market cap of $15.51 billion and a price-to-earnings ratio of 22.65. The stock’s 50-day moving average is $34.70 and its 200-day moving average is $34.00.
FirstEnergy Corp. (NYSE:FE) last released its quarterly earnings data on Tuesday, April 26th. The company reported $0.80 EPS for the quarter, beating analysts’ consensus estimates of $0.75 by $0.05. The business earned $3.90 billion during the quarter, compared to analysts’ expectations of $3.86 billion. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities analysts forecast that FirstEnergy Corp. will post $2.65 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Stockholders of record on Friday, August 5th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, August 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 3.94%.
Several hedge funds and institutional investors have added to or reduced their stakes in FE. Airain ltd increased its position in FirstEnergy Corp. by 32.0% in the fourth quarter. Airain ltd now owns 337,975 shares of the company’s stock worth $10,724,000 after buying an additional 81,898 shares during the last quarter. State of Tennessee Treasury Department increased its position in FirstEnergy Corp. by 30.6% in the fourth quarter. State of Tennessee Treasury Department now owns 236,021 shares of the company’s stock worth $7,489,000 after buying an additional 55,263 shares during the last quarter. Flippin Bruce & Porter Inc. increased its position in FirstEnergy Corp. by 1.1% in the fourth quarter. Flippin Bruce & Porter Inc. now owns 190,461 shares of the company’s stock worth $6,043,000 after buying an additional 2,071 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in FirstEnergy Corp. by 84.5% in the fourth quarter. BNP Paribas Arbitrage SA now owns 506,610 shares of the company’s stock worth $16,075,000 after buying an additional 231,963 shares during the last quarter. Finally, Matarin Capital Management LLC acquired a new position in FirstEnergy Corp. during the fourth quarter worth approximately $1,201,000.
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.
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