FirstEnergy Corp. (FE) Receives Average Rating of “Buy” from Analysts
FirstEnergy Corp. (NYSE:FE) has earned a consensus rating of “Buy” from the nine analysts that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $42.86.
Several brokerages recently weighed in on FE. Zacks Investment Research raised FirstEnergy from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research note on Wednesday, May 1st. Morgan Stanley set a $44.00 price target on FirstEnergy and gave the stock a “buy” rating in a research note on Friday, April 5th. Bank of America upped their price target on FirstEnergy from $41.00 to $46.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, Barclays raised FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $40.00 to $46.00 in a research note on Wednesday, March 20th.
FE stock traded down $0.02 during midday trading on Friday, hitting $43.13. The stock had a trading volume of 30,166 shares, compared to its average volume of 4,626,005. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 16.66, a PEG ratio of 2.73 and a beta of 0.30. FirstEnergy has a 52-week low of $32.92 and a 52-week high of $43.22. The company has a quick ratio of 0.47, a current ratio of 0.54 and a debt-to-equity ratio of 2.72.
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s dividend payout ratio (DPR) is 58.69%.
In other news, EVP Leila L. Vespoli sold 24,400 shares of the company’s stock in a transaction on Monday, March 11th. The stock was sold at an average price of $41.33, for a total transaction of $1,008,452.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.
Several large investors have recently made changes to their positions in FE. Metropolitan Life Insurance Co NY grew its position in shares of FirstEnergy by 0.3% during the first quarter. Metropolitan Life Insurance Co NY now owns 70,842 shares of the utilities provider’s stock worth $2,947,000 after purchasing an additional 244 shares in the last quarter. Kaizen Advisory LLC boosted its position in shares of FirstEnergy by 23.6% in the 4th quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 254 shares in the last quarter. Texas Permanent School Fund boosted its position in shares of FirstEnergy by 0.3% in the 1st quarter. Texas Permanent School Fund now owns 97,981 shares of the utilities provider’s stock worth $4,077,000 after purchasing an additional 254 shares in the last quarter. Cetera Advisor Networks LLC boosted its position in shares of FirstEnergy by 1.6% in the 4th quarter. Cetera Advisor Networks LLC now owns 16,417 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 255 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in shares of FirstEnergy by 4.6% in the 1st quarter. Global Retirement Partners LLC now owns 6,277 shares of the utilities provider’s stock worth $261,000 after purchasing an additional 275 shares in the last quarter. 92.23% of the stock is currently owned by hedge funds and other institutional investors.
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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