FirstEnergy Corporation’s (FE) “Hold” Rating Reaffirmed at KeyCorp
KeyCorp restated their hold rating on shares of FirstEnergy Corporation (NYSE:FE) in a report published on Friday morning. KeyCorp also issued estimates for FirstEnergy Corporation’s Q3 2017 earnings at $0.86 EPS.
A number of other research analysts also recently commented on FE. Wolfe Research upgraded FirstEnergy Corporation from an underperform rating to a market perform rating and upped their price objective for the stock from $30.00 to $32.00 in a research note on Monday, June 26th. Goldman Sachs Group Inc downgraded FirstEnergy Corporation from a positive rating to a neutral rating in a research note on Monday, June 26th. Zacks Investment Research downgraded FirstEnergy Corporation from a hold rating to a sell rating in a research note on Tuesday, July 4th. Morgan Stanley set a $38.00 price objective on FirstEnergy Corporation and gave the stock a buy rating in a research note on Tuesday, July 4th. Finally, Tudor Pickering upgraded FirstEnergy Corporation from a trim rating to a hold rating in a research note on Friday, July 14th. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $34.48.
Shares of FirstEnergy Corporation (NYSE:FE) traded down 0.53% during midday trading on Friday, hitting $32.13. The company had a trading volume of 3,054,639 shares. The stock’s 50-day moving average price is $31.59 and its 200-day moving average price is $30.71. FirstEnergy Corporation has a 12 month low of $27.93 and a 12 month high of $34.83. The company’s market cap is $14.28 billion.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The firm had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The firm’s revenue was down 3.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.56 EPS. On average, equities research analysts forecast that FirstEnergy Corporation will post $2.82 EPS for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Tuesday, November 7th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Monday, November 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.48%. FirstEnergy Corporation’s payout ratio is -12.31%.
Several institutional investors have recently made changes to their positions in FE. Patriot Financial Group Insurance Agency LLC lifted its holdings in shares of FirstEnergy Corporation by 22.1% in the second quarter. Patriot Financial Group Insurance Agency LLC now owns 3,633 shares of the utilities provider’s stock valued at $106,000 after buying an additional 658 shares during the period. Oppenheimer Asset Management Inc. acquired a new stake in shares of FirstEnergy Corporation in the first quarter valued at $139,000. Sandy Spring Bank lifted its holdings in shares of FirstEnergy Corporation by 1.3% in the second quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after buying an additional 66 shares during the period. City Holding Co. lifted its holdings in shares of FirstEnergy Corporation by 8.2% in the second quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock valued at $153,000 after buying an additional 400 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in shares of FirstEnergy Corporation in the second quarter valued at $215,000. Institutional investors and hedge funds own 80.02% of the company’s stock.
FirstEnergy Corporation Company Profile
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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