Todays Report: Today, FirstEnergy Corp. (FE) Rating Increased to Overweight at Barclays PLC

Today, FirstEnergy Corp. (FE) Rating Increased to Overweight at Barclays PLC

FirstEnergy Corp. (NYSE:FE) was upgraded by equities researchers at Barclays PLC from an “equal weight” rating to an “overweight” rating in a research report issued on Thursday. The firm currently has a $37.00 target price on the stock. Barclays PLC’s price objective indicates a potential upside of 17.42% from the company’s previous close.

A number of other research firms also recently weighed in on FE. Jefferies Group lifted their target price on FirstEnergy Corp. from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Thursday, July 7th. Goldman Sachs Group Inc. downgraded FirstEnergy Corp. from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $36.00 to $31.00 in a research report on Tuesday, July 26th. Morgan Stanley raised FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $38.00 to $41.00 in a research report on Monday, August 8th. They noted that the move was a valuation call. Bank of America Corp. raised FirstEnergy Corp. from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $41.00 to $40.00 in a research report on Monday, August 8th. Finally, Citigroup Inc. lifted their target price on FirstEnergy Corp. from $28.00 to $31.00 and gave the stock a “sell” rating in a research report on Wednesday, July 20th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company’s stock. FirstEnergy Corp. has an average rating of “Hold” and a consensus target price of $36.10.

Shares of FirstEnergy Corp. (NYSE:FE) opened at 31.51 on Thursday. The company has a 50-day moving average price of $32.77 and a 200 day moving average price of $33.80. The firm’s market capitalization is $13.40 billion. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60.

FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.56 EPS for the quarter, topping analysts’ consensus estimates 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 firm earned $0.53 EPS. Analysts expect that FirstEnergy Corp. will post $2.54 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 4.57%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is presently -103.60%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. National Pension Service boosted its position in FirstEnergy Corp. by 9.3% in the third quarter. National Pension Service now owns 319,183 shares of the company’s stock valued at $10,559,000 after buying an additional 27,254 shares during the period. Premier Asset Managment LLC boosted its stake in shares of FirstEnergy Corp. by 75.6% in the third quarter. Premier Asset Managment LLC now owns 25,730 shares of the company’s stock valued at $851,000 after buying an additional 11,075 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of FirstEnergy Corp. by 52.6% in the third quarter. Nisa Investment Advisors LLC now owns 61,516 shares of the company’s stock valued at $2,035,000 after buying an additional 21,200 shares during the last quarter. Capstone Asset Management Co. boosted its stake in shares of FirstEnergy Corp. by 1.4% in the third quarter. Capstone Asset Management Co. now owns 50,327 shares of the company’s stock valued at $1,665,000 after buying an additional 706 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund boosted its stake in shares of FirstEnergy Corp. by 30.8% in the third quarter. Oregon Public Employees Retirement Fund now owns 153,935 shares of the company’s stock valued at $5,092,000 after buying an additional 36,289 shares during the last quarter. Hedge funds and other institutional investors own 75.86% of the company’s stock.

FirstEnergy Corp. Company Profile

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