FirstEnergy Corp.’s (FE) Equal Weight Rating Reiterated at Barclays PLC
Barclays PLC reaffirmed their equal weight rating on shares of FirstEnergy Corp. (NYSE:FE) in a research report released on Sunday morning. They currently have a $38.00 price target on the utilities provider’s stock, up from their previous price target of $35.00.
A number of other research firms also recently issued reports on FE. Jefferies Group LLC reaffirmed a hold rating and set a $32.00 price objective on shares of FirstEnergy Corp. in a report on Friday, March 31st. Vetr downgraded shares of FirstEnergy Corp. from a strong-buy rating to a buy rating and set a $36.00 price objective for the company. in a report on Monday, February 27th. Royal Bank of Canada set a $33.00 price objective on shares of FirstEnergy Corp. and gave the stock a hold rating in a report on Wednesday, January 4th. Goldman Sachs Group Inc raised shares of FirstEnergy Corp. from a sell rating to a neutral rating and lifted their price objective for the stock from $29.00 to $34.00 in a report on Tuesday, January 17th. Finally, Wells Fargo & Co downgraded shares of FirstEnergy Corp. from an outperform rating to a market perform rating in a report on Tuesday, January 10th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $35.30.
Shares of FirstEnergy Corp. (NYSE:FE) traded down 0.16% during midday trading on Friday, hitting $30.61. The stock had a trading volume of 4,208,211 shares. FirstEnergy Corp. has a 52 week low of $29.33 and a 52 week high of $36.60. The stock’s 50-day moving average price is $31.34 and its 200 day moving average price is $31.43. The company’s market cap is $13.54 billion.
FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings data on Tuesday, February 21st. The utilities provider reported $0.38 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.06% and a negative net margin of 4.12%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.82 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. The business’s revenue was down 2.9% on a year-over-year basis. On average, equities analysts forecast that FirstEnergy Corp. will post $2.77 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 5th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Wednesday, May 3rd. FirstEnergy Corp.’s payout ratio is -100.70%.
Several institutional investors have recently added to or reduced their stakes in FE. Gateway Investment Advisers LLC boosted its position in FirstEnergy Corp. by 0.6% in the third quarter. Gateway Investment Advisers LLC now owns 29,603 shares of the utilities provider’s stock worth $979,000 after buying an additional 171 shares during the last quarter. Miller Howard Investments Inc. NY boosted its position in FirstEnergy Corp. by 0.7% in the third quarter. Miller Howard Investments Inc. NY now owns 51,204 shares of the utilities provider’s stock worth $1,694,000 after buying an additional 337 shares during the last quarter. Conning Inc. boosted its position in FirstEnergy Corp. by 1.5% in the third quarter. Conning Inc. now owns 22,875 shares of the utilities provider’s stock worth $757,000 after buying an additional 340 shares during the last quarter. JFS Wealth Advisors LLC boosted its position in FirstEnergy Corp. by 430.4% in the third quarter. JFS Wealth Advisors LLC now owns 7,653 shares of the utilities provider’s stock worth $253,000 after buying an additional 6,210 shares during the last quarter. Finally, Bollard Group LLC boosted its position in FirstEnergy Corp. by 1.0% in the third quarter. Bollard Group LLC now owns 89,068 shares of the utilities provider’s stock worth $2,946,000 after buying an additional 854 shares during the last quarter. Hedge funds and other institutional investors own 74.16% of the company’s stock.
About FirstEnergy Corp.
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.
Receive News & Stock Ratings for FirstEnergy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy Corp. and related stocks with our FREE daily email newsletter.