FirstEnergy Corp. (NYSE:FE) Given Average Rating of “Buy” by Brokerages

Shares of FirstEnergy Corp. (NYSE:FE) have earned a consensus rating of “Buy” from the ten analysts that are covering the stock, reports. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $43.13.

Several research analysts have weighed in on FE shares. TheStreet lowered shares of Hostess Brands from a “b” rating to a “f” rating in a research note on Thursday. Bank of America set a $57.00 price objective on shares of Lennar and gave the company a “buy” rating in a research note on Thursday, March 28th. Morgan Stanley reiterated an “underweight” rating and issued a C$18.00 price objective on shares of WestJet Airlines in a research note on Friday, April 5th. KeyCorp reiterated an “overweight” rating and issued a $46.00 price objective on shares of FirstEnergy in a research note on Wednesday, June 5th. Finally, Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a research note on Tuesday, July 2nd.

In other FirstEnergy news, Director Christopher D. Pappas purchased 3,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The shares were bought at an average price of $41.14 per share, for a total transaction of $123,420.00. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.32% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Lake Point Wealth Management acquired a new position in FirstEnergy in the 4th quarter valued at $25,000. Zions Bancorporation N.A. acquired a new position in FirstEnergy in the 1st quarter valued at $30,000. Legacy Advisors LLC acquired a new position in FirstEnergy in the 1st quarter valued at $33,000. Destination Wealth Management acquired a new position in FirstEnergy in the 1st quarter valued at $35,000. Finally, Tompkins Financial Corp grew its stake in FirstEnergy by 50.1% in the 1st quarter. Tompkins Financial Corp now owns 1,001 shares of the utilities provider’s stock valued at $42,000 after buying an additional 334 shares during the last quarter. Institutional investors own 93.74% of the company’s stock.

FirstEnergy stock traded down $0.54 during trading hours on Friday, hitting $43.49. The company had a trading volume of 2,016,720 shares, compared to its average volume of 2,754,478. The firm has a market capitalization of $23.40 billion, a price-to-earnings ratio of 16.79, a P/E/G ratio of 2.90 and a beta of 0.30. 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 company’s fifty day moving average is $43.20. FirstEnergy has a fifty-two week low of $34.30 and a fifty-two week high of $44.20.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.88 billion. FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The firm’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.67 EPS. As a group, analysts expect that FirstEnergy will post 2.53 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.52 annualized dividend and a dividend yield of 3.50%. FirstEnergy’s dividend payout ratio (DPR) is 58.69%.

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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Analyst Recommendations for FirstEnergy (NYSE:FE)

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