FirstEnergy (NYSE:FE) Price Target Cut to $47.00 by Analysts at KeyCorp

FirstEnergy (NYSE:FE) had its target price trimmed by KeyCorp from $48.00 to $47.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Other equities analysts also recently issued reports about the stock. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price target on the stock. Bank of America upped 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. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective for the company in a research report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $45.82.

FirstEnergy Price Performance

NYSE:FE opened at $41.28 on Wednesday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The firm’s fifty day moving average price is $42.60 and its two-hundred day moving average price is $41.56. FirstEnergy has a one year low of $35.41 and a one year high of $44.97. The company has a market cap of $23.79 billion, a P/E ratio of 26.63, a P/E/G ratio of 2.25 and a beta of 0.51.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing the consensus estimate of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.96 billion. During the same quarter last year, the company posted $0.88 earnings per share. The company’s revenue was up 6.9% on a year-over-year basis. Equities analysts expect that FirstEnergy will post 2.67 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 7th were issued a $0.425 dividend. The ex-dividend date was Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.12%. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in FE. Assenagon Asset Management S.A. raised its holdings in FirstEnergy by 1,417.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 743,303 shares of the utilities provider’s stock valued at $32,965,000 after buying an additional 694,313 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in FirstEnergy by 5.3% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock valued at $403,517,000 after buying an additional 457,231 shares during the last quarter. Point72 Asset Management L.P. bought a new position in FirstEnergy in the 2nd quarter valued at approximately $14,933,000. Los Angeles Capital Management LLC raised its holdings in FirstEnergy by 1,178.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 286,824 shares of the utilities provider’s stock valued at $10,977,000 after buying an additional 264,389 shares during the last quarter. Finally, International Assets Investment Management LLC raised its holdings in FirstEnergy by 4,445.0% in the 3rd quarter. International Assets Investment Management LLC now owns 219,434 shares of the utilities provider’s stock valued at $9,732,000 after buying an additional 214,606 shares during the last quarter. 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.