Guggenheim reissued their buy rating on shares of FirstEnergy (NYSE:FE) in a research report released on Wednesday, January 3rd. The brokerage currently has a $47.00 price target on the utilities provider’s stock.

Several other research analysts have also recently issued reports on the stock. Zacks Investment Research upgraded shares of FirstEnergy from a hold rating to a buy rating and set a $34.00 target price for the company in a report on Tuesday, January 2nd. ValuEngine upgraded shares of FirstEnergy from a hold rating to a buy rating in a research note on Wednesday, November 15th. Mizuho reiterated a hold rating and set a $30.50 price target on shares of FirstEnergy in a research note on Tuesday, October 24th. Bank of America began coverage on shares of FirstEnergy in a research report on Tuesday, October 24th. They set a neutral rating and a $34.00 price objective for the company. Finally, KeyCorp restated a hold rating on shares of FirstEnergy in a research report on Friday, October 20th. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $35.46.

Shares of FirstEnergy (NYSE:FE) traded down $0.06 during trading hours on Wednesday, hitting $32.11. 1,289,072 shares of the company’s stock were exchanged, compared to its average volume of 9,241,743. FirstEnergy has a 52 week low of $27.93 and a 52 week high of $35.22. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. The stock has a market cap of $14,275.49, a P/E ratio of -2.75, a PEG ratio of 12.51 and a beta of 0.25.

FirstEnergy (NYSE:FE) last issued its earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.11. FirstEnergy had a negative net margin of 35.99% and a positive return on equity of 19.29%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the prior year, the business posted $0.90 EPS. research analysts expect that FirstEnergy will post 3.06 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, March 1st. Shareholders of record on Wednesday, February 7th will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.48%. FirstEnergy’s dividend payout ratio is currently -12.31%.

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of FirstEnergy by 23.4% in the second quarter. Vanguard Group Inc. now owns 44,375,170 shares of the utilities provider’s stock worth $1,293,979,000 after acquiring an additional 8,409,439 shares during the last quarter. BlackRock Inc. boosted its position in shares of FirstEnergy by 13.9% in the second quarter. BlackRock Inc. now owns 44,045,492 shares of the utilities provider’s stock worth $1,284,363,000 after acquiring an additional 5,369,241 shares during the last quarter. NWQ Investment Management Company LLC acquired a new stake in shares of FirstEnergy in the third quarter worth approximately $70,441,000. APG Asset Management N.V. boosted its position in shares of FirstEnergy by 91.7% in the fourth quarter. APG Asset Management N.V. now owns 3,795,477 shares of the utilities provider’s stock worth $96,783,000 after acquiring an additional 1,816,000 shares during the last quarter. Finally, Brookfield Asset Management Inc. lifted its position in FirstEnergy by 3,345.0% during the second quarter. Brookfield Asset Management Inc. now owns 1,829,980 shares of the utilities provider’s stock valued at $53,362,000 after buying an additional 1,776,860 shares in the last quarter. 82.52% of the stock is currently owned by institutional investors.

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FirstEnergy 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.

Analyst Recommendations for FirstEnergy (NYSE:FE)

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