FirstEnergy Corporation (NYSE:FE) Given Average Rating of “Moderate Buy” by Brokerages

FirstEnergy Corporation (NYSE:FE) has received an average recommendation of “Moderate Buy” from the thirteen ratings firms that are covering the stock, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $52.8333.

A number of equities research analysts have weighed in on FE shares. New Street Research set a $52.00 price objective on FirstEnergy in a report on Tuesday, April 21st. Wells Fargo & Company restated an “overweight” rating and issued a $55.00 price target on shares of FirstEnergy in a research report on Tuesday, April 21st. Weiss Ratings downgraded shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Barclays lowered their price target on shares of FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a research report on Friday, July 31st. Finally, Jefferies Financial Group lifted their price objective on FirstEnergy from $50.00 to $52.00 and gave the stock a “hold” rating in a research report on Tuesday, April 21st.

Hedge Funds Weigh In On FirstEnergy

Several institutional investors have recently added to or reduced their stakes in the business. Parallel Advisors LLC grew its stake in FirstEnergy by 4.1% during the 4th quarter. Parallel Advisors LLC now owns 5,381 shares of the utilities provider’s stock valued at $241,000 after purchasing an additional 213 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in FirstEnergy by 5.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 4,677 shares of the utilities provider’s stock worth $209,000 after buying an additional 223 shares during the last quarter. Simplicity Wealth LLC lifted its holdings in FirstEnergy by 3.4% during the 1st quarter. Simplicity Wealth LLC now owns 6,839 shares of the utilities provider’s stock worth $346,000 after buying an additional 223 shares during the last quarter. Pinnacle Bancorp Inc. grew its position in shares of FirstEnergy by 44.4% in the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 232 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of FirstEnergy by 4.8% in the 4th quarter. Signaturefd LLC now owns 5,181 shares of the utilities provider’s stock worth $232,000 after acquiring an additional 235 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Stock Down 0.9%

Shares of NYSE:FE opened at $47.37 on Friday. FirstEnergy has a 1-year low of $42.72 and a 1-year high of $52.34. The stock has a market cap of $27.41 billion, a P/E ratio of 25.20, a P/E/G ratio of 2.29 and a beta of 0.46. The firm has a fifty day moving average price of $47.70 and a 200 day moving average price of $48.32. 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) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the company posted $0.52 EPS. Sell-side analysts predict that FirstEnergy will post 2.74 EPS for the current year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be issued a dividend of $0.465 per share. The ex-dividend date is Friday, August 7th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 3.9%. FirstEnergy’s payout ratio is 98.94%.

About FirstEnergy

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.