Analysts Set FirstEnergy Corp. (NYSE:FE) Price Target at $46.00

Shares of FirstEnergy Corp. (NYSE:FEGet Free Report) have been given an average rating of “Hold” by the twelve brokerages that are covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and four have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $46.00.

A number of analysts have recently weighed in on FE shares. Bank of America increased their price target on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Barclays raised their target price on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. KeyCorp increased their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Morgan Stanley lifted their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a report on Friday, September 20th.

View Our Latest Analysis on FE

Institutional Trading of FirstEnergy

Several institutional investors and hedge funds have recently added to or reduced their stakes in FE. Capital World Investors raised its position in shares of FirstEnergy by 14.3% in the 1st quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock valued at $3,009,615,000 after buying an additional 9,773,785 shares in the last quarter. Boston Partners lifted its position in shares of FirstEnergy by 2.3% in the 1st quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock worth $367,423,000 after purchasing an additional 218,165 shares during the period. Allspring Global Investments Holdings LLC boosted its position in FirstEnergy by 5.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after acquiring an additional 457,231 shares during the last quarter. First Pacific Advisors LP boosted its position in shares of FirstEnergy by 2.0% during the 2nd quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock valued at $136,152,000 after purchasing an additional 69,512 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of FirstEnergy by 7.6% in the 2nd quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock valued at $104,288,000 after acquiring an additional 193,540 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

FirstEnergy Trading Down 0.2 %

Shares of NYSE FE opened at $41.73 on Friday. The stock has a market capitalization of $24.05 billion, a P/E ratio of 26.92, a PEG ratio of 2.26 and a beta of 0.50. The stock’s 50 day moving average price is $43.62 and its two-hundred day moving average price is $41.08. The company has a quick ratio of 0.43, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy has a 52-week low of $34.92 and a 52-week high of $44.97.

FirstEnergy (NYSE:FEGet Free Report) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.88 earnings per share. On average, analysts anticipate that FirstEnergy will post 2.7 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.07%. FirstEnergy’s dividend payout ratio is currently 109.68%.

FirstEnergy Company Profile

(Get Free Report

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.

Further Reading

Analyst Recommendations for FirstEnergy (NYSE:FE)

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