FirstEnergy Corp. (FE) Raised to “Overweight” at Barclays PLC
FirstEnergy Corp. (NYSE:FE) was upgraded by stock analysts at Barclays PLC to an “overweight” rating in a research note issued on Thursday.
FE has been the topic of several other reports. Jefferies Group restated a “hold” rating and set a $36.00 target price on shares of FirstEnergy Corp. in a report on Tuesday, August 16th. Citigroup Inc. raised their target price on FirstEnergy Corp. from $28.00 to $31.00 and gave the company a “sell” rating in a report on Wednesday, July 20th. Morgan Stanley upgraded FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $38.00 to $41.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and cut their target price for the company from $41.00 to $40.00 in a report on Monday, August 8th. Finally, Goldman Sachs Group Inc. lowered FirstEnergy Corp. from a “neutral” rating to a “sell” rating and cut their target price for the company from $36.00 to $31.00 in a report on Tuesday, July 26th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $35.82.
FirstEnergy Corp. (NYSE:FE) opened at 31.36 on Thursday. The firm’s 50-day moving average price is $32.85 and its 200-day moving average price is $33.85. The company’s market cap is $13.33 billion. FirstEnergy Corp. has a 12-month low of $28.89 and a 12-month high of $36.60.
FirstEnergy Corp. (NYSE:FE) last posted its earnings results on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.05% and a negative net margin of 3.96%. During the same quarter last year, the company earned $0.53 EPS. Analysts expect that FirstEnergy Corp. will post $2.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s payout ratio is -103.60%.
A number of large investors have recently added to or reduced their stakes in FE. Signature Estate & Investment Advisors LLC bought a new stake in FirstEnergy Corp. during the second quarter worth $126,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its position in shares of FirstEnergy Corp. by 19.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,700 shares of the company’s stock valued at $129,000 after buying an additional 600 shares during the last quarter. Assetmark Inc. increased its position in shares of FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock valued at $141,000 after buying an additional 3,714 shares during the last quarter. Checchi Capital Advisers LLC increased its position in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock valued at $160,000 after buying an additional 281 shares during the last quarter. Finally, City Holding Co. increased its position in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock valued at $170,000 after buying an additional 782 shares during the last quarter. 75.93% of the stock is currently owned by institutional investors.
FirstEnergy Corp. Company Profile
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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