KeyCorp Boosts FirstEnergy (NYSE:FE) Price Target to $46.00

FirstEnergy (NYSE:FE) had its target price raised by KeyCorp from $45.00 to $46.00 in a report released on Monday morning, Benzinga reports. KeyCorp currently has an overweight rating on the utilities provider’s stock.

Several other analysts have also commented on the stock. Mizuho lifted their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a neutral rating in a research report on Monday, June 3rd. Bank of America lifted their price objective on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an underperform rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an equal weight rating in a research report on Thursday, August 1st. Scotiabank lifted their price objective on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a sector perform rating in a research report on Tuesday, August 20th. Finally, JPMorgan Chase & Co. boosted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company a neutral rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of Hold and an average target price of $43.60.

FirstEnergy Stock Down 0.5 %

FirstEnergy stock opened at $43.49 on Monday. FirstEnergy has a fifty-two week low of $32.18 and a fifty-two week high of $44.97. The stock has a market cap of $25.03 billion, a PE ratio of 24.99, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The firm’s 50-day simple moving average is $42.34 and its 200 day simple moving average is $39.91. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the company earned $0.47 earnings per share. Research analysts predict that FirstEnergy will post 2.7 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.91%. The ex-dividend date was Wednesday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is presently 97.70%.

Institutional Trading of FirstEnergy

Hedge funds and other institutional investors have recently bought and sold shares of the company. FinTrust Capital Advisors LLC increased its holdings in FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 610 shares during the period. ST Germain D J Co. Inc. increased its holdings in FirstEnergy by 1,138.9% during the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 615 shares during the period. Sachetta LLC bought a new stake in FirstEnergy during the 4th quarter worth approximately $25,000. Strategic Investment Solutions Inc. IL bought a new stake in FirstEnergy during the 2nd quarter worth approximately $32,000. Finally, Scarborough Advisors LLC purchased a new position in FirstEnergy in the 4th quarter worth approximately $31,000. Institutional investors own 89.41% of the company’s stock.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.