Somewhat Critical Press Coverage Likely to Impact FirstEnergy Corp. (FE) Share Price
News articles about FirstEnergy Corp. (NYSE:FE) have been trending somewhat negative this week, AlphaOne reports. The research group, a service of Accern, identifies negative and positive press coverage by monitoring more than twenty million news and blog sources. AlphaOne ranks coverage of companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. FirstEnergy Corp. earned a news sentiment score of -0.05 on AlphaOne’s scale. AlphaOne also assigned media stories about the utilities provider an impact score of 76 out of 100, meaning that recent press coverage is likely to have an impact on the stock’s share price in the near future.
Here are some of the news articles that may have impacted Alpha One’s rankings:
- Can FirstEnergy Corp. (FE) Shock Analysts Again? – StockNewsMagazine (stocknewsmagazine.com)
- FirstEnergy Adds Substation, Fortifies Ohio Infrastructure (finance.yahoo.com)
- FirstEnergy Receives Tree Care Award from National Arbor Day Foundation for … (prnewswire.com)
- Post Earnings Coverage as Consolidated Edison’s Revenue Improved; GAAP EPS Jumped 21% (finance.yahoo.com)
- FirstEnergy Receives Tree Care Award from National Arbor Day Foundation for 19th Consecutive Year (finance.yahoo.com)
FirstEnergy Corp. (NYSE:FE) traded down 0.11% on Friday, hitting $28.13. The stock had a trading volume of 3,334,262 shares. The company’s 50 day moving average price is $30.23 and its 200-day moving average price is $30.99. FirstEnergy Corp. has a 12-month low of $27.93 and a 12-month high of $36.60. The company’s market cap is $12.48 billion.
FirstEnergy Corp. (NYSE:FE) last announced its quarterly earnings results on Thursday, April 27th. The utilities provider reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.07. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. FirstEnergy Corp. had a positive return on equity of 10.06% and a negative net margin of 4.12%. The business’s revenue was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $0.80 EPS. Equities research analysts anticipate that FirstEnergy Corp. will post $2.80 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, June 1st. Investors of record on Friday, May 5th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 5.11%. The ex-dividend date is Wednesday, May 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is -100.70%.
Several research firms have commented on FE. Jefferies Group LLC cut their price target on FirstEnergy Corp. from $34.50 to $32.00 and set a “hold” rating on the stock in a research report on Thursday, February 23rd. Citigroup Inc reaffirmed a “neutral” rating and set a $34.00 price target (up previously from $32.00) on shares of FirstEnergy Corp. in a research report on Saturday, April 22nd. Barclays PLC raised FirstEnergy Corp. from an “equal weight” rating to an “overweight” rating and cut their price target for the stock from $38.00 to $36.00 in a research report on Monday, May 1st. Morgan Stanley cut their price target on FirstEnergy Corp. from $40.00 to $39.00 and set an “overweight” rating on the stock in a research report on Monday, May 8th. Finally, Goldman Sachs Group Inc raised FirstEnergy Corp. from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research report on Thursday, March 23rd. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating to the company’s stock. FirstEnergy Corp. currently has an average rating of “Hold” and a consensus price target of $34.60.
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About FirstEnergy Corp.
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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