Trade Report: Today, RBC Capital Markets Reaffirms “Hold” Rating for FirstEnergy Corp. (FE)

Today, RBC Capital Markets Reaffirms “Hold” Rating for FirstEnergy Corp. (FE)

RBC Capital Markets reiterated their hold rating on shares of FirstEnergy Corp. (NYSE:FE) in a research report sent to investors on Thursday morning. They currently have a $36.00 price target on the stock, down from their previous price target of $38.00.

A number of other equities analysts also recently issued reports on the company. Barclays PLC raised FirstEnergy Corp. from an equal weight rating to an overweight rating and set a $37.00 target price for the company in a research note on Thursday, October 13th. Jefferies Group reissued a hold rating and set a $36.00 target price on shares of FirstEnergy Corp. in a research note on Tuesday, August 16th. Bank of America Corp. raised FirstEnergy Corp. from a neutral rating to a buy rating and cut their target price for the stock from $41.00 to $40.00 in a research note on Monday, August 8th. Morgan Stanley raised 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 research note on Monday, August 8th. They noted that the move was a valuation call. Finally, Goldman Sachs Group Inc. cut FirstEnergy Corp. from a neutral rating to a sell rating and lowered their price target for the stock from $36.00 to $31.00 in a report on Tuesday, July 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. FirstEnergy Corp. has a consensus rating of Hold and an average target price of $35.97.

Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.23 on Thursday. The stock’s market cap is $13.70 billion. The firm has a 50-day moving average price of $32.77 and a 200-day moving average price of $33.74. FirstEnergy Corp. has a 52-week low of $28.89 and a 52-week high of $36.60.

FirstEnergy Corp. (NYSE:FE) last issued its earnings results on Thursday, July 28th. The company reported $0.56 earnings per share (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 quarter in the prior year, the business posted $0.53 earnings per share. On average, analysts anticipate that FirstEnergy Corp. will post $2.54 EPS for the current fiscal year.

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

Hedge funds and other institutional investors have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC purchased a new position in shares of FirstEnergy Corp. during the second quarter valued at $126,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its position 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. raised its position 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 raised its position 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. raised its position 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. 75.86% of the stock is currently owned by institutional investors.

FirstEnergy Corp. Company Profile

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