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 1 year price objective among analysts that have covered the stock in the last year is $40.89.

Several research analysts have recently commented on FE shares. Morgan Stanley lifted their target price on FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Wells Fargo & Co reiterated a “buy” rating and set a $42.00 target price (up from $41.00) on shares of FirstEnergy in a research note on Monday, September 17th. Citigroup lifted their target price on FirstEnergy from $34.00 to $37.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 3rd. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 9th. Finally, Zacks Investment Research upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 target price for the company in a research note on Wednesday, October 10th.

FE stock traded down $0.04 during mid-day trading on Friday, reaching $38.55. The company had a trading volume of 6,133,194 shares, compared to its average volume of 3,837,532. The company has a quick ratio of 0.41, a current ratio of 0.45 and a debt-to-equity ratio of 2.44. The company has a market cap of $19.35 billion, a price-to-earnings ratio of 12.56, a P/E/G ratio of 2.52 and a beta of 0.30. FirstEnergy has a 52 week low of $29.33 and a 52 week high of $39.38.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.71 by $0.09. The firm had revenue of $3.06 billion during 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%. On average, equities research analysts anticipate that FirstEnergy will post 2.55 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Thursday, February 7th will be paid a dividend of $0.38 per share. This is an increase from FirstEnergy’s previous quarterly dividend of $0.36. This represents a $1.52 annualized dividend and a dividend yield of 3.94%. The ex-dividend date is Wednesday, February 6th. FirstEnergy’s payout ratio is currently 46.91%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Piedmont Investment Advisors LLC acquired a new position in FirstEnergy in the 2nd quarter valued at $189,000. Massachusetts Financial Services Co. MA raised its holdings in FirstEnergy by 0.4% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,372,767 shares of the utilities provider’s stock valued at $49,296,000 after acquiring an additional 5,324 shares in the last quarter. BP PLC raised its holdings in FirstEnergy by 16.0% in the 2nd quarter. BP PLC now owns 58,000 shares of the utilities provider’s stock valued at $2,083,000 after acquiring an additional 8,000 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD raised its holdings in FirstEnergy by 10.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 32,837 shares of the utilities provider’s stock valued at $1,179,000 after acquiring an additional 3,201 shares in the last quarter. Finally, TD Asset Management Inc. raised its holdings in FirstEnergy by 6.4% in the 2nd quarter. TD Asset Management Inc. now owns 615,756 shares of the utilities provider’s stock valued at $22,112,000 after acquiring an additional 37,183 shares in the last quarter. Institutional investors and hedge funds own 94.84% 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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