FirstEnergy Corporation (FE) Rating Increased to Buy at ValuEngine
ValuEngine upgraded shares of FirstEnergy Corporation (NYSE:FE) from a hold rating to a buy rating in a report released on Wednesday.
Several other research firms have also recently issued reports on FE. Zacks Investment Research cut FirstEnergy Corporation from a hold rating to a sell rating in a research note on Tuesday, August 8th. Deutsche Bank AG reissued a hold rating and set a $34.00 target price (up previously from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. J P Morgan Chase & Co set a $34.00 price objective on FirstEnergy Corporation and gave the company a hold rating in a research note on Thursday, October 12th. Mizuho reaffirmed a hold rating and issued a $30.50 price objective on shares of FirstEnergy Corporation in a research note on Tuesday, October 24th. Finally, KeyCorp reaffirmed a hold rating on shares of FirstEnergy Corporation in a research note on Friday, October 20th. Thirteen equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $34.39.
FirstEnergy Corporation (NYSE FE) opened at $34.65 on Wednesday. FirstEnergy Corporation has a 1 year low of $27.93 and a 1 year high of $35.22. The company has a market capitalization of $15,414.33, a P/E ratio of 12.69 and a beta of 0.24. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69.
FirstEnergy Corporation (NYSE:FE) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, topping the Zacks’ consensus estimate of $0.86 by $0.11. The firm had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same quarter last year, the business posted $0.90 earnings per share. analysts forecast that FirstEnergy Corporation will post 3 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. Shareholders of record on Tuesday, 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 4.16%. The ex-dividend date of this dividend is Monday, November 6th. FirstEnergy Corporation’s dividend payout ratio (DPR) is -12.31%.
A number of hedge funds and other institutional investors have recently made changes to their positions in FE. Vanguard Group Inc. lifted its holdings in FirstEnergy Corporation by 23.4% during the 2nd quarter. Vanguard Group Inc. now owns 44,375,170 shares of the utilities provider’s stock worth $1,293,979,000 after buying an additional 8,409,439 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of FirstEnergy Corporation by 13.9% in the 2nd quarter. BlackRock Inc. now owns 44,045,492 shares of the utilities provider’s stock valued at $1,284,363,000 after purchasing an additional 5,369,241 shares during the last quarter. NWQ Investment Management Company LLC purchased a new stake in shares of FirstEnergy Corporation in the 3rd quarter valued at about $70,441,000. Brookfield Asset Management Inc. lifted its holdings in shares of FirstEnergy Corporation by 3,345.0% in the 2nd quarter. Brookfield Asset Management Inc. now owns 1,829,980 shares of the utilities provider’s stock valued at $53,362,000 after purchasing an additional 1,776,860 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC lifted its holdings in shares of FirstEnergy Corporation by 23.3% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 6,071,635 shares of the utilities provider’s stock valued at $177,049,000 after purchasing an additional 1,148,955 shares during the last quarter. 79.23% of the stock is owned by institutional investors.
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.
To view ValuEngine’s full report, visit ValuEngine’s official website.
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