Jefferies Group set a $36.00 price target on FirstEnergy Corp. (NYSE:FE) in a research note released on Wednesday. The firm currently has a a hold rating on the stock.
FE has been the subject of a number of other research reports. Barclays PLC set a $36.00 target price on shares of FirstEnergy Corp. and gave the stock a hold rating in a report on Saturday, September 17th. Royal Bank Of Canada dropped their target price on shares of FirstEnergy Corp. from $38.00 to $36.00 and set a sector perform rating for the company in a report on Thursday. RBC Capital Markets reissued a hold rating and issued a $36.00 target price on shares of FirstEnergy Corp. in a report on Thursday. Goldman Sachs Group Inc. cut shares of FirstEnergy Corp. from a neutral rating to a sell rating and dropped their target price for the stock from $36.00 to $31.00 in a report on Tuesday, July 26th. Finally, Morgan Stanley raised shares of FirstEnergy Corp. from an equal weight rating to an overweight rating and increased their target price for the stock from $38.00 to $41.00 in a report on Monday, August 8th. They noted that the move was a valuation call. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $36.10.
Shares of FirstEnergy Corp. (NYSE:FE) traded up 0.92% during midday trading on Wednesday, hitting $31.65. 2,966,444 shares of the stock traded hands. FirstEnergy Corp. has a 52 week low of $28.89 and a 52 week high of $36.60. The firm’s 50-day moving average is $32.85 and its 200 day moving average is $33.85. The company’s market capitalization is $13.46 billion.
FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a negative net margin of 3.96% and a positive return on equity of 10.05%. During the same quarter in the previous year, the business earned $0.53 earnings per share. Equities analysts forecast that FirstEnergy Corp. will post $2.54 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 4.59%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is -103.60%.
Several hedge funds have recently made changes to their positions in FE. Signature Estate & Investment Advisors LLC bought a new stake in shares of FirstEnergy Corp. during the second quarter valued at approximately $126,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of FirstEnergy Corp. by 19.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,700 shares of the company’s stock valued at $129,000 after buying an additional 600 shares during the period. Assetmark Inc. increased its stake in shares of FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock valued at $141,000 after buying an additional 3,714 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock valued at $160,000 after buying an additional 281 shares during the period. Finally, City Holding Co. increased its stake in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock valued at $170,000 after buying an additional 782 shares during the period. 75.93% of the stock is owned by institutional investors.
About FirstEnergy Corp.