FirstEnergy Corporation (FE) to Issue Quarterly Dividend of $0.45 on March 1st

FirstEnergy Corporation (NYSE:FE) announced a quarterly dividend on Wednesday, December 17th. Shareholders of record on Friday, February 6th will be given a dividend of 0.445 per share by the utilities provider on Sunday, March 1st. This represents a c) dividend on an annualized basis and a yield of 3.8%. The ex-dividend date is Friday, February 6th.

FirstEnergy has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend annually for the last 3 consecutive years. FirstEnergy has a dividend payout ratio of 65.9% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect FirstEnergy to earn $2.89 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 61.6%.

FirstEnergy Stock Performance

NYSE FE opened at $46.89 on Wednesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.64. FirstEnergy has a 1-year low of $37.58 and a 1-year high of $48.20. The firm has a market capitalization of $27.08 billion, a P/E ratio of 20.47, a P/E/G ratio of 2.68 and a beta of 0.64. The business’s 50-day simple moving average is $45.64 and its 200-day simple moving average is $45.02.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Wells Fargo & Company cut their target price on shares of FirstEnergy from $54.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 20th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FirstEnergy in a research report on Monday, December 29th. Morgan Stanley reissued an “overweight” rating on shares of FirstEnergy in a research report on Wednesday, January 21st. Jefferies Financial Group lifted their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a “hold” rating in a research note on Tuesday, October 21st. Finally, Mizuho upped their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the company a “neutral” rating in a research note on Friday, October 24th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, FirstEnergy has an average rating of “Moderate Buy” and an average target price of $48.85.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.