FirstEnergy (NYSE:FE) Shares Cross Above Two Hundred Day Moving Average – Time to Sell?

Shares of FirstEnergy Corporation (NYSE:FE) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $44.17 and traded as high as $45.20. FirstEnergy shares last traded at $44.6750, with a volume of 4,114,082 shares changing hands.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FE. Wells Fargo & Company upgraded FirstEnergy to a “strong-buy” rating in a report on Tuesday, October 28th. Citigroup assumed coverage on shares of FirstEnergy in a research note on Tuesday, October 7th. They issued a “buy” rating and a $53.00 price target on the stock. Jefferies Financial Group lifted their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a report on Tuesday, October 21st. Morgan Stanley raised their price target on FirstEnergy from $47.00 to $50.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 21st. Finally, KeyCorp lowered FirstEnergy from an “overweight” rating to a “sector weight” rating in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $48.75.

FirstEnergy Trading Down 0.0%

The business’s 50-day moving average price is $45.46 and its 200-day moving average price is $44.20. The firm has a market capitalization of $25.81 billion, a PE ratio of 19.51, a price-to-earnings-growth ratio of 2.55 and a beta of 0.64. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.64.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, October 28th. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. FirstEnergy had a net margin of 9.19% and a return on equity of 11.15%. The company had revenue of $4.15 billion for the quarter, compared to the consensus estimate of $3.94 billion. During the same period last year, the firm posted $0.85 EPS. FirstEnergy’s revenue for the quarter was up 10.8% on a year-over-year basis. As a group, analysts expect that FirstEnergy Corporation will post 2.66 earnings per share for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, March 1st. Shareholders of record on Friday, February 6th will be paid a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, February 6th. FirstEnergy’s payout ratio is currently 77.73%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale grew its holdings in shares of FirstEnergy by 1.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 84,565 shares of the utilities provider’s stock worth $3,355,000 after acquiring an additional 1,349 shares during the period. Mackenzie Financial Corp grew its stake in FirstEnergy by 418.0% in the 2nd quarter. Mackenzie Financial Corp now owns 270,183 shares of the utilities provider’s stock valued at $10,878,000 after acquiring an additional 218,020 shares during the last quarter. Advisors Asset Management Inc. raised its position in FirstEnergy by 52.7% during the second quarter. Advisors Asset Management Inc. now owns 42,632 shares of the utilities provider’s stock worth $1,716,000 after acquiring an additional 14,718 shares during the last quarter. Edgestream Partners L.P. lifted its holdings in shares of FirstEnergy by 1,379.5% in the second quarter. Edgestream Partners L.P. now owns 114,945 shares of the utilities provider’s stock valued at $4,628,000 after purchasing an additional 107,176 shares in the last quarter. Finally, OMERS ADMINISTRATION Corp lifted its holdings in shares of FirstEnergy by 218.6% in the second quarter. OMERS ADMINISTRATION Corp now owns 62,236 shares of the utilities provider’s stock valued at $2,506,000 after purchasing an additional 42,700 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.