FirstEnergy Corp. (FE) Receives Consensus Recommendation of “Buy” from Analysts

FirstEnergy Corp. (NYSE:FE) has received an average rating of “Buy” from the thirteen ratings firms that are covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $40.78.

Several equities analysts have commented on the company. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research report on Wednesday, October 10th. Wells Fargo & Co reaffirmed a “buy” rating and issued a $42.00 price objective (up previously from $41.00) on shares of FirstEnergy in a research report on Monday, September 17th. Bank of America upped their price objective on FirstEnergy from $38.00 to $39.00 and gave the company a “buy” rating in a research report on Wednesday, August 1st. Citigroup upped their price objective on FirstEnergy from $34.00 to $37.00 and gave the company a “neutral” rating in a research report on Wednesday, October 3rd. Finally, ValuEngine raised FirstEnergy from a “hold” rating to a “buy” rating in a research report on Tuesday, October 9th.

Shares of NYSE FE traded up $0.30 during trading hours on Monday, hitting $38.00. 3,639,655 shares of the company traded hands, compared to its average volume of 4,100,735. The company has a market cap of $19.31 billion, a P/E ratio of 12.38, a P/E/G ratio of 2.48 and a beta of 0.24. The company has a debt-to-equity ratio of 2.44, a quick ratio of 0.41 and a current ratio of 0.45. FirstEnergy has a 12 month low of $29.33 and a 12 month high of $39.01.

FirstEnergy (NYSE:FE) last released its earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.71 by $0.09. The firm had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $2.82 billion. FirstEnergy had a positive return on equity of 24.42% and a negative net margin of 11.86%. As a group, equities analysts predict that FirstEnergy will post 2.54 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Tuesday, November 6th. FirstEnergy’s dividend payout ratio is 46.91%.

Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of FirstEnergy by 30.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 362,018 shares of the utilities provider’s stock worth $13,456,000 after purchasing an additional 83,777 shares during the last quarter. Ontario Teachers Pension Plan Board purchased a new stake in shares of FirstEnergy during the 3rd quarter worth $1,076,000. Bank of Hawaii lifted its stake in shares of FirstEnergy by 10.3% during the 3rd quarter. Bank of Hawaii now owns 16,940 shares of the utilities provider’s stock worth $630,000 after purchasing an additional 1,575 shares during the last quarter. FMR LLC lifted its stake in shares of FirstEnergy by 2.0% during the 3rd quarter. FMR LLC now owns 9,470,530 shares of the utilities provider’s stock worth $352,019,000 after purchasing an additional 185,041 shares during the last quarter. Finally, Affinity Investment Advisors LLC purchased a new stake in shares of FirstEnergy during the 3rd quarter worth $202,000. Institutional investors and hedge funds own 89.79% of the company’s stock.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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Analyst Recommendations for FirstEnergy (NYSE:FE)

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