Today: The Deutsche Bank AG Upgrades FirstEnergy Corp. (FE) to Buy

The Deutsche Bank AG Upgrades FirstEnergy Corp. (FE) to Buy

Deutsche Bank AG upgraded shares of FirstEnergy Corp. (NYSE:FE) from a hold rating to a buy rating in a research note published on Tuesday. The brokerage currently has $37.00 price objective on the stock, down from their prior price objective of $38.00.

Several other analysts also recently commented on FE. Jefferies Group raised their target price on shares of FirstEnergy Corp. from $35.00 to $36.00 and gave the stock a hold rating in a report on Thursday, July 7th. Citigroup Inc. raised their target price on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a sell rating in a report on Wednesday, July 20th. Goldman Sachs Group Inc. downgraded 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. Morgan Stanley upgraded shares of FirstEnergy Corp. from an equal weight rating to an overweight rating and raised 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. Finally, Bank of America Corp. upgraded shares of FirstEnergy Corp. from a neutral rating to a buy rating and dropped their target price for the stock from $41.00 to $40.00 in a report on Monday, August 8th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. FirstEnergy Corp. has an average rating of Hold and an average target price of $36.00.

Shares of FirstEnergy Corp. (NYSE:FE) opened at 33.96 on Tuesday. The company’s 50 day moving average is $32.93 and its 200 day moving average is $33.65. FirstEnergy Corp. has a 12-month low of $28.89 and a 12-month high of $36.60. The company’s market capitalization is $14.44 billion.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $1.44 dividend on an annualized basis and a yield of 4.24%. FirstEnergy Corp.’s dividend payout ratio (DPR) is -103.60%.

A number of institutional investors have recently added to or reduced their stakes in FE. World Asset Management Inc boosted its position in FirstEnergy Corp. by 1.9% in the third quarter. World Asset Management Inc now owns 46,261 shares of the company’s stock worth $1,530,000 after buying an additional 875 shares during the period. Rothschild Asset Management Inc. boosted its position in FirstEnergy Corp. by 26.0% in the third quarter. Rothschild Asset Management Inc. now owns 15,455 shares of the company’s stock worth $511,000 after buying an additional 3,186 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its position in FirstEnergy Corp. by 1.4% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,211,642 shares of the company’s stock worth $40,081,000 after buying an additional 17,133 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in FirstEnergy Corp. by 3.0% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 117,705 shares of the company’s stock worth $3,894,000 after buying an additional 3,404 shares during the period. Finally, Great West Life Assurance Co. Can boosted its position in FirstEnergy Corp. by 9.7% in the third quarter. Great West Life Assurance Co. Can now owns 991,880 shares of the company’s stock worth $32,832,000 after buying an additional 87,784 shares during the period. 75.86% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Corp. Company Profile

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