FirstEnergy (NYSE:FE) Price Target Raised to $47.00 at KeyCorp

FirstEnergy (NYSE:FE) had its price target lifted by KeyCorp from $46.00 to $47.00 in a research report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other equities analysts have also issued reports on the stock. Scotiabank lifted their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a sector perform rating in a report on Tuesday, August 20th. Barclays lifted their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an equal weight rating in a report on Tuesday, July 9th. JPMorgan Chase & Co. lifted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Bank of America boosted their price objective on shares of FirstEnergy from $42.00 to $43.00 and gave the company an underperform rating in a report on Thursday, August 29th. Finally, Wells Fargo & Company boosted their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the company an equal weight rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, FirstEnergy has a consensus rating of Hold and an average price target of $44.55.

FirstEnergy Trading Up 0.7 %

Shares of FE opened at $44.34 on Monday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. The firm has a market capitalization of $25.52 billion, a price-to-earnings ratio of 25.48, a PEG ratio of 2.32 and a beta of 0.50. The company has a 50-day moving average of $43.05 and a 200 day moving average of $40.26. FirstEnergy has a 1-year low of $32.18 and a 1-year high of $44.97.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, research analysts expect that FirstEnergy will post 2.7 EPS for the current year.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be given a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.83%. FirstEnergy’s dividend payout ratio (DPR) is currently 97.70%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FE. FinTrust Capital Advisors LLC grew its stake in FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 610 shares in the last quarter. ST Germain D J Co. Inc. grew its stake 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 valued at $26,000 after acquiring an additional 615 shares in the last quarter. Scarborough Advisors LLC purchased a new stake in FirstEnergy during the 4th quarter valued at about $31,000. Strategic Investment Solutions Inc. IL purchased a new stake in FirstEnergy during the 2nd quarter valued at about $32,000. Finally, Western Pacific Wealth Management LP purchased a new stake in FirstEnergy during the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Company Profile

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.