FirstEnergy Corp. (FE) Upgraded to “Neutral” at Citigroup Inc.
Citigroup Inc. upgraded shares of FirstEnergy Corp. (NYSE:FE) from a sell rating to a neutral rating in a research report report published on Tuesday morning. They currently have $31.00 target price on the stock, up from their previous target price of $29.00.
A number of other research firms also recently commented on FE. Barclays PLC set a $36.00 price objective on FirstEnergy Corp. and gave the company a hold rating in a report on Saturday, September 17th. Jefferies Group increased their price objective on FirstEnergy Corp. from $35.00 to $36.00 and gave the company a hold rating in a report on Thursday, July 7th. Royal Bank Of Canada dropped their price objective on FirstEnergy Corp. from $38.00 to $36.00 and set a sector perform rating on the stock in a report on Thursday, October 13th. RBC Capital Markets reiterated a hold rating and issued a $36.00 price objective (down previously from $38.00) on shares of FirstEnergy Corp. in a report on Thursday, October 13th. Finally, Goldman Sachs Group Inc. downgraded FirstEnergy Corp. from a neutral rating to a sell rating and dropped their price objective for the company from $36.00 to $31.00 in a report on Tuesday, July 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $35.97.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.695 on Tuesday. FirstEnergy Corp. has a 12-month low of $28.89 and a 12-month high of $36.60. The company’s 50 day moving average price is $32.78 and its 200-day moving average price is $33.72. The firm’s market cap is $13.90 billion.
FirstEnergy Corp. (NYSE:FE) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, topping 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 in the prior year, the business posted $0.53 EPS. On average, equities research analysts anticipate that FirstEnergy Corp. will post $2.54 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 annualized dividend and a dividend yield of 4.34%. FirstEnergy Corp.’s dividend payout ratio is currently -103.60%.
Several hedge funds have recently bought and sold shares of FE. National Pension Service boosted its stake in FirstEnergy Corp. by 9.3% in the third quarter. National Pension Service now owns 319,183 shares of the company’s stock valued at $10,559,000 after buying an additional 27,254 shares in the last quarter. Premier Asset Managment LLC boosted its stake in FirstEnergy Corp. by 75.6% in the third quarter. Premier Asset Managment LLC now owns 25,730 shares of the company’s stock valued at $851,000 after buying an additional 11,075 shares in the last quarter. Nisa Investment Advisors LLC increased its position in FirstEnergy Corp. by 52.6% in the third quarter. Nisa Investment Advisors LLC now owns 61,516 shares of the company’s stock valued at $2,035,000 after buying an additional 21,200 shares during the last quarter. Capstone Asset Management Co. increased its position in FirstEnergy Corp. by 1.4% in the third quarter. Capstone Asset Management Co. now owns 50,327 shares of the company’s stock valued at $1,665,000 after buying an additional 706 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund increased its position in FirstEnergy Corp. by 30.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 153,935 shares of the company’s stock valued at $5,092,000 after buying an additional 36,289 shares during the last quarter. 75.86% of the stock is owned by institutional investors and hedge funds.
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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