Morgan Stanley Boosts FirstEnergy (NYSE:FE) Price Target to $51.00

FirstEnergy (NYSE:FE) had its target price raised by Morgan Stanley from $48.00 to $51.00 in a research note issued to investors on Wednesday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other analysts also recently issued reports about the company. Wells Fargo & Company increased their price target on FirstEnergy from $42.00 to $45.00 and gave the stock an equal weight rating in a report on Thursday, August 1st. Bank of America raised their target price on FirstEnergy from $42.00 to $43.00 and gave the stock an underperform rating in a research note on Thursday, August 29th. Argus raised FirstEnergy from a hold rating to a buy rating and set a $50.00 price target on the stock in a research note on Friday, September 20th. JPMorgan Chase & Co. raised their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Finally, Mizuho boosted their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the company a neutral rating in a research report on Monday, June 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $44.45.

FirstEnergy Trading Up 1.0 %

Shares of FE stock opened at $44.05 on Wednesday. The stock has a 50-day moving average of $42.87 and a 200-day moving average of $40.15. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. The stock has a market cap of $25.35 billion, a price-to-earnings ratio of 25.32, a PEG ratio of 2.32 and a beta of 0.50. FirstEnergy has a 1-year low of $32.18 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same quarter last year, the business earned $0.47 EPS. On average, equities research analysts forecast that FirstEnergy will post 2.7 earnings per share for the current year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 3.86%. FirstEnergy’s dividend payout ratio (DPR) is currently 97.70%.

Institutional Trading of FirstEnergy

Institutional investors and hedge funds have recently modified their holdings of the stock. FinTrust Capital Advisors LLC lifted its position in shares of FirstEnergy by 1,150.9% during the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 610 shares in the last quarter. ST Germain D J Co. Inc. increased its stake in FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after buying an additional 615 shares during the last quarter. Scarborough Advisors LLC bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $31,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of FirstEnergy in the 2nd quarter worth approximately $32,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of FirstEnergy in the first quarter valued at approximately $36,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.