FirstEnergy (NYSE:FE) PT Raised to $48.00

FirstEnergy (NYSE:FE) had its price objective hoisted by KeyCorp from $47.00 to $48.00 in a research report sent to investors on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for FirstEnergy’s Q4 2024 earnings at $0.70 EPS, FY2025 earnings at $2.89 EPS, FY2026 earnings at $3.14 EPS, FY2027 earnings at $3.35 EPS and FY2028 earnings at $3.59 EPS.

A number of other equities research analysts have also commented on FE. Wells Fargo & Company increased their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Scotiabank increased their price objective 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. Jefferies Financial Group assumed coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 target price on the stock. Morgan Stanley upped their target price on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Barclays upped their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, October 7th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Stock Down 1.5 %

FE opened at $43.41 on Tuesday. The firm’s 50-day simple moving average is $43.67 and its 200-day simple moving average is $40.88. 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 has a twelve month low of $34.91 and a twelve month high of $44.97. The firm has a market cap of $25.00 billion, a price-to-earnings ratio of 30.84, a PEG ratio of 2.31 and a beta of 0.50.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. Equities research analysts anticipate that FirstEnergy will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.92%. FirstEnergy’s dividend payout ratio is 120.57%.

Institutional Trading of FirstEnergy

Hedge funds have recently modified their holdings of the company. NBC Securities Inc. increased its stake in FirstEnergy by 116.3% during the 1st quarter. NBC Securities Inc. now owns 1,860 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 1,000 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in FirstEnergy during the 1st quarter worth approximately $866,000. Wealth Enhancement Advisory Services LLC increased its stake in FirstEnergy by 214.5% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 73,567 shares of the utilities provider’s stock worth $2,841,000 after purchasing an additional 50,176 shares in the last quarter. Firethorn Wealth Partners LLC bought a new stake in FirstEnergy during the 1st quarter worth approximately $206,000. Finally, Cornerstone Wealth Group LLC increased its stake in FirstEnergy by 6.0% during the 1st quarter. Cornerstone Wealth Group LLC now owns 83,822 shares of the utilities provider’s stock worth $3,237,000 after purchasing an additional 4,765 shares in the last quarter. 89.41% of the stock is currently owned by institutional investors and hedge funds.

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.