Other institutional investors have also made changes to their positions in the company. Greenleaf Trust raised its position in FirstEnergy by 12.7% in the 3rd quarter. Greenleaf Trust now owns 6,933 shares of the utilities provider’s stock worth $257,000 after purchasing an additional 783 shares during the last quarter. Tower Research Capital LLC TRC raised its position in shares of FirstEnergy by 52.1% during the third quarter. Tower Research Capital LLC TRC now owns 66,494 shares of the utilities provider’s stock worth $2,460,000 after acquiring an additional 22,770 shares during the last quarter. Bank of Montreal Can lifted its stake in shares of FirstEnergy by 5.8% during the third quarter. Bank of Montreal Can now owns 3,514,359 shares of the utilities provider’s stock valued at $134,600,000 after acquiring an additional 193,892 shares during the period. SVB Wealth LLC bought a new position in FirstEnergy in the third quarter valued at about $221,000. Finally, CWA Asset Management Group LLC acquired a new stake in FirstEnergy in the third quarter worth about $437,000. 81.80% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
FE has been the topic of a number of research reports. KeyCorp cut their target price on shares of FirstEnergy from $47.00 to $44.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. Bank of America lowered shares of FirstEnergy from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $41.00 to $38.00 in a report on Monday, January 23rd. Morgan Stanley upped their target price on shares of FirstEnergy from $47.00 to $48.00 and gave the company an “overweight” rating in a research report on Monday, January 23rd. Guggenheim upgraded FirstEnergy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $46.00 in a research report on Monday, January 23rd. Finally, Mizuho dropped their price objective on FirstEnergy from $43.00 to $42.00 and set a “neutral” rating for the company in a report on Monday, February 6th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $44.38.
FirstEnergy Price Performance
FE opened at $40.76 on Thursday. The company has a fifty day simple moving average of $41.53 and a 200 day simple moving average of $39.97. The company has a quick ratio of 0.56, a current ratio of 0.66 and a debt-to-equity ratio of 1.86. The stock has a market cap of $23.32 billion, a P/E ratio of 57.41, a P/E/G ratio of 2.46 and a beta of 0.42. FirstEnergy Corp. has a 12 month low of $35.32 and a 12 month high of $48.85.
FirstEnergy (NYSE:FE – Get Rating) last announced its quarterly earnings results on Tuesday, February 14th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.03). FirstEnergy had a return on equity of 13.22% and a net margin of 3.26%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $2.45 billion. During the same quarter last year, the company earned $0.51 earnings per share. The firm’s revenue was up 18.5% compared to the same quarter last year. On average, research analysts expect that FirstEnergy Corp. will post 2.53 EPS for the current year.
FirstEnergy Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 7th will be paid a $0.39 dividend. This represents a $1.56 dividend on an annualized basis and a yield of 3.83%. The ex-dividend date is Monday, February 6th. FirstEnergy’s payout ratio is presently 219.72%.
FirstEnergy Company Profile
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FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate. The Regulated Distribution segment distributes electricity through FirstEnergy’s utility operating companies, serving various customers.
See Also
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