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

Shares of FirstEnergy Corp. (NYSE:FE) have earned an average rating of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and six have issued a buy recommendation on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $43.71.

FE has been the subject of a number of recent analyst reports. TheStreet downgraded shares of FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. KeyCorp restated an “overweight” rating and issued a $46.00 target price on shares of FirstEnergy in a report on Wednesday, June 5th. Finally, Zacks Investment Research downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price for the company. in a report on Tuesday, July 2nd.

In other FirstEnergy news, Director Christopher D. Pappas acquired 3,000 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $41.14 per share, for a total transaction of $123,420.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.32% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its stake in FirstEnergy by 6.4% during the fourth quarter. Geode Capital Management LLC now owns 6,393,048 shares of the utilities provider’s stock worth $239,645,000 after buying an additional 382,694 shares during the period. Pictet Asset Management Ltd. grew its stake in FirstEnergy by 1.2% during the first quarter. Pictet Asset Management Ltd. now owns 3,432,026 shares of the utilities provider’s stock worth $142,807,000 after buying an additional 41,378 shares during the period. Jennison Associates LLC grew its stake in FirstEnergy by 0.5% during the second quarter. Jennison Associates LLC now owns 3,424,311 shares of the utilities provider’s stock worth $146,595,000 after buying an additional 16,508 shares during the period. Wedge Capital Management L L P NC grew its stake in FirstEnergy by 31.5% during the first quarter. Wedge Capital Management L L P NC now owns 3,314,848 shares of the utilities provider’s stock worth $137,931,000 after buying an additional 793,249 shares during the period. Finally, Thompson Siegel & Walmsley LLC grew its stake in FirstEnergy by 6.1% during the first quarter. Thompson Siegel & Walmsley LLC now owns 2,526,705 shares of the utilities provider’s stock worth $105,136,000 after buying an additional 146,202 shares during the period. Institutional investors own 93.50% of the company’s stock.

FirstEnergy stock traded up $0.14 during trading on Wednesday, reaching $44.34. The company had a trading volume of 1,730,844 shares, compared to its average volume of 4,966,764. FirstEnergy has a 12-month low of $35.33 and a 12-month high of $44.75. The business’s 50 day moving average price is $43.64. The stock has a market capitalization of $23.55 billion, a price-to-earnings ratio of 17.12, a price-to-earnings-growth ratio of 2.95 and a beta of 0.27. The company has a quick ratio of 0.53, a current ratio of 0.60 and a debt-to-equity ratio of 2.63.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.01. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.66 billion. During the same period in the previous year, the firm earned $0.62 earnings per share. FirstEnergy’s revenue was down 3.8% compared to the same quarter last year. Equities analysts expect that FirstEnergy will post 2.5 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.52 annualized dividend and a yield of 3.43%. FirstEnergy’s dividend payout ratio is currently 58.69%.

FirstEnergy Company Profile

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

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Analyst Recommendations for FirstEnergy (NYSE:FE)

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