Todays Report: Today, Citigroup Inc. Upgrades FirstEnergy Corp. (FE) to Neutral

Today, Citigroup Inc. Upgrades FirstEnergy Corp. (FE) to Neutral

FirstEnergy Corp. (NYSE:FE) was upgraded by equities research analysts at Citigroup Inc. from a “sell” rating to a “neutral” rating in a report issued on Tuesday.

Other research analysts have also issued research reports about the company. Bank of America Corp. upgraded FirstEnergy Corp. from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $41.00 to $40.00 in a research report on Monday, August 8th. Jefferies Group lifted their price target on FirstEnergy Corp. from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, July 7th. RBC Capital Markets reiterated a “hold” rating and issued a $36.00 price target (down previously from $38.00) on shares of FirstEnergy Corp. in a research report on Thursday, October 13th. Barclays PLC set a $36.00 target price on FirstEnergy Corp. and gave the company a “hold” rating in a research report on Saturday, September 17th. Finally, Morgan Stanley upgraded FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $38.00 to $41.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $36.10.

Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.23 on Tuesday. FirstEnergy Corp. has a 1-year low of $28.89 and a 1-year high of $36.60. The company has a 50 day moving average price of $32.77 and a 200 day moving average price of $33.74. The stock’s market cap is $13.70 billion.

FirstEnergy Corp. (NYSE:FE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.56 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.05% and a negative net margin of 3.96%. During the same period last year, the company earned $0.53 earnings per share. On average, equities analysts anticipate that FirstEnergy Corp. will post $2.54 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, December 1st. Shareholders of record on Monday, November 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.47%. The ex-dividend date is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio is currently -103.60%.

A number of institutional investors have recently added to or reduced their stakes in FE. Signature Estate & Investment Advisors LLC purchased a new position in FirstEnergy Corp. during the second quarter valued at about $126,000. FUKOKU MUTUAL LIFE INSURANCE Co raised 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 worth $129,000 after buying an additional 600 shares during the period. Assetmark Inc. raised 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 worth $141,000 after buying an additional 3,714 shares during the period. Checchi Capital Advisers LLC raised 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 worth $160,000 after buying an additional 281 shares during the period. Finally, City Holding Co. raised 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 worth $170,000 after buying an additional 782 shares during the period. 75.86% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Corp. Company Profile

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