FirstEnergy Corp. (FE) Rating Lowered to Buy at Vetr Inc.
FirstEnergy Corp. (NYSE:FE) was downgraded by research analysts at Vetr from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday. They presently have a $35.82 target price on the stock. Vetr‘s price objective points to a potential upside of 10.05% from the company’s current price.
Other research analysts have also recently issued reports about the company. Deutsche Bank AG reiterated a “buy” rating and set a $38.00 price target on shares of FirstEnergy Corp. in a research report on Monday, November 7th. Jefferies Group reiterated a “hold” rating and set a $34.50 price target (up from $34.00) on shares of FirstEnergy Corp. in a research report on Tuesday, October 25th. Tudor Pickering cut FirstEnergy Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, October 19th. Barclays PLC set a $36.00 price target on FirstEnergy Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Finally, Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and reduced their price target for the company from $41.00 to $40.00 in a research report on Monday, August 8th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $36.19.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.55 on Monday. The company has a 50-day moving average price of $32.68 and a 200 day moving average price of $33.39. The company’s market capitalization is $13.86 billion. FirstEnergy Corp. has a one year low of $30.29 and a one year high of $36.60.
FirstEnergy Corp. (NYSE:FE) last announced its quarterly earnings data on Friday, November 4th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.14. FirstEnergy Corp. had a positive return on equity of 10.06% and a negative net margin of 4.12%. During the same period in the previous year, the business earned $0.98 earnings per share. Equities analysts anticipate that FirstEnergy Corp. will post $2.64 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 paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.42%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is currently -100.70%.
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Institutional investors have recently added to or reduced their stakes in the company. LPL Financial LLC increased its stake in FirstEnergy Corp. by 16.6% in the third quarter. LPL Financial LLC now owns 21,874 shares of the company’s stock worth $692,000 after buying an additional 3,110 shares in the last quarter. Credit Suisse AG increased its stake in FirstEnergy Corp. by 14.9% in the third quarter. Credit Suisse AG now owns 709,850 shares of the company’s stock worth $23,483,000 after buying an additional 91,967 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in FirstEnergy Corp. by 21.1% in the third quarter. Ameritas Investment Partners Inc. now owns 10,165 shares of the company’s stock worth $336,000 after buying an additional 1,769 shares in the last quarter. Cognios Capital LLC increased its stake in FirstEnergy Corp. by 23.7% in the third quarter. Cognios Capital LLC now owns 43,441 shares of the company’s stock worth $1,436,000 after buying an additional 8,320 shares in the last quarter. Finally, Chartwell Investment Partners LLC increased its stake in FirstEnergy Corp. by 21.8% in the third quarter. Chartwell Investment Partners LLC now owns 507,055 shares of the company’s stock worth $16,773,000 after buying an additional 90,584 shares in the last quarter. 74.42% of the stock is currently owned by institutional investors.
About FirstEnergy Corp.
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.
To view Vetr’s full report, visit Vetr’s official website.
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