J P Morgan Chase & Co set a $34.00 price objective on FirstEnergy Corporation (NYSE:FE) in a research report sent to investors on Thursday morning. The firm currently has a hold rating on the utilities provider’s stock.
FE has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) downgraded FirstEnergy Corporation from a positive rating to a neutral rating in a research note on Monday, June 26th. Evercore ISI raised FirstEnergy Corporation from an in-line rating to an outperform rating and increased their price target for the company from $30.00 to $35.00 in a research note on Monday, August 14th. Tudor Pickering raised FirstEnergy Corporation from a trim rating to a hold rating in a research note on Friday, July 14th. Jefferies Group LLC reissued a hold rating and issued a $33.00 price target (up previously from $31.00) on shares of FirstEnergy Corporation in a research note on Monday, July 31st. Finally, Zacks Investment Research downgraded FirstEnergy Corporation from a buy rating to a hold rating in a research note on Monday, September 18th. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. FirstEnergy Corporation presently has an average rating of Hold and a consensus target price of $34.16.
Shares of FirstEnergy Corporation (NYSE FE) traded down 0.34% during trading on Thursday, hitting $32.38. The company had a trading volume of 519,581 shares. The stock’s market cap is $14.39 billion. The firm has a 50 day moving average of $31.64 and a 200 day moving average of $30.68. FirstEnergy Corporation has a 12-month low of $27.93 and a 12-month high of $34.83.
FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.61. The company had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The firm’s quarterly revenue was down 3.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.56 EPS. On average, analysts forecast that FirstEnergy Corporation will post $2.82 earnings per share for the current fiscal year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.43%. The ex-dividend date is Monday, November 6th. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
Hedge funds have recently added to or reduced their stakes in the business. Federated Investors Inc. PA boosted its stake in shares of FirstEnergy Corporation by 21.7% during the 2nd quarter. Federated Investors Inc. PA now owns 80,711 shares of the utilities provider’s stock worth $2,354,000 after buying an additional 14,381 shares during the last quarter. Achmea Investment Management B.V. acquired a new position in shares of FirstEnergy Corporation during the 1st quarter worth about $2,387,000. Swiss National Bank boosted its stake in shares of FirstEnergy Corporation by 6.9% during the 2nd quarter. Swiss National Bank now owns 1,612,181 shares of the utilities provider’s stock worth $47,011,000 after buying an additional 103,600 shares during the last quarter. P Schoenfeld Asset Management LP acquired a new position in shares of FirstEnergy Corporation during the 2nd quarter worth about $11,708,000. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of FirstEnergy Corporation by 3.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,256,711 shares of the utilities provider’s stock worth $36,646,000 after buying an additional 44,965 shares during the last quarter. Hedge funds and other institutional investors own 80.02% of the company’s stock.
FirstEnergy Corporation Company Profile
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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