FirstEnergy Corp. (FE) Shares Up 1.6%
Shares of FirstEnergy Corp. (NYSE:FE) shot up 1.6% during mid-day trading on Wednesday . The company traded as high as $32.75 and last traded at $32.72, with a volume of 3,146,839 shares traded. The stock had previously closed at $32.21.
A number of research firms have issued reports on FE. Jefferies Group reissued a “hold” rating and issued a $36.00 target price on shares of FirstEnergy Corp. in a research report on Tuesday, August 16th. Bank of America Corp. raised FirstEnergy Corp. from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $41.00 to $40.00 in a research report on Monday, August 8th. Morgan Stanley raised FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $38.00 to $41.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Goldman Sachs Group Inc. downgraded FirstEnergy Corp. from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $36.00 to $31.00 in a research report on Tuesday, July 26th. Finally, Citigroup Inc. raised their target price on FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a research report on Wednesday, July 20th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $35.82.
The stock’s 50 day moving average is $33.98 and its 200-day moving average is $34.19. The firm’s market capitalization is $13.92 billion.
FirstEnergy Corp. (NYSE:FE) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.56 EPS for the quarter, beating the consensus estimate of $0.54 by $0.02. During the same quarter in the prior year, the company posted $0.53 EPS. On average, equities research analysts expect that FirstEnergy Corp. will post $2.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 5th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Wednesday, August 3rd.
A hedge fund recently raised its stake in FirstEnergy Corp. stock. State of Tennessee Treasury Department raised its position in shares of FirstEnergy Corp. (NYSE:FE) by 30.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 236,021 shares of the company’s stock after buying an additional 55,263 shares during the period. State of Tennessee Treasury Department owned 0.06% of FirstEnergy Corp. worth $7,489,000 as of its most recent filing with the SEC.
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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