FirstEnergy (NYSE:FE – Free Report) had its price target reduced by JPMorgan Chase & Co. from $52.00 to $50.00 in a report issued on Monday morning,Benzinga reports. They currently have a neutral rating on the utilities provider’s stock.
Several other equities research analysts also recently weighed in on FE. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FirstEnergy in a report on Monday, September 14th. Wall Street Zen raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. Mizuho set a $47.00 price target on shares of FirstEnergy in a research report on Monday, October 12th. Barclays dropped their price target on shares of FirstEnergy from $54.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Finally, Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, September 18th. Six investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $50.91.
Read Our Latest Research Report on FE
FirstEnergy Stock Performance
Shares of FE stock opened at $45.48 on Monday. FirstEnergy has a 12-month low of $42.67 and a 12-month high of $52.34. The firm has a market capitalization of $26.32 billion, a price-to-earnings ratio of 24.19, a price-to-earnings-growth ratio of 2.69 and a beta of 0.43. The business has a 50 day simple moving average of $45.52 and a 200 day simple moving average of $46.95. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45.
FirstEnergy (NYSE:FE – Get Free Report) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%. The firm had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period last year, the firm earned $0.52 EPS. On average, equities research analysts anticipate that FirstEnergy will post 2.74 EPS for the current year.
FirstEnergy Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Friday, November 6th will be issued a $0.4650 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.86 annualized dividend and a dividend yield of 4.1%. FirstEnergy’s dividend payout ratio is 98.94%.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its position in shares of FirstEnergy by 7.5% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,971,706 shares of the utilities provider’s stock valued at $508,158,000 after purchasing an additional 694,449 shares in the last quarter. Bank of America Corp DE grew its stake in shares of FirstEnergy by 11.9% in the 1st quarter. Bank of America Corp DE now owns 5,396,317 shares of the utilities provider’s stock worth $273,377,000 after purchasing an additional 573,731 shares during the last quarter. Electron Capital Partners LLC raised its holdings in shares of FirstEnergy by 103.2% in the 1st quarter. Electron Capital Partners LLC now owns 2,991,914 shares of the utilities provider’s stock worth $151,570,000 after purchasing an additional 1,519,737 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FirstEnergy by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,627,745 shares of the utilities provider’s stock worth $133,116,000 after purchasing an additional 35,259 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its holdings in shares of FirstEnergy by 6.4% in the 1st quarter. BROOKFIELD Corp ON now owns 2,621,338 shares of the utilities provider’s stock worth $132,797,000 after purchasing an additional 156,920 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.
About FirstEnergy
FirstEnergy Corp. (NYSE: FE) is an electric utility company focused on the transmission and distribution of electricity. Through its regulated utility subsidiaries, the company delivers power to residential, commercial and industrial customers and maintains the poles, lines, substations and other infrastructure that support electric service.
FirstEnergy’s distribution operations serve customers across parts of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. Its utility companies include Ohio Edison, The Illuminating Company, Toledo Edison, Jersey Central Power & Light, Met-Ed, Penelec, Penn Power, West Penn Power, Mon Power and The Potomac Edison Company.
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