FirstEnergy (NYSE:FE) PT Raised to $43.00 at Bank of America

FirstEnergy (NYSE:FE) had its price target increased by Bank of America from $42.00 to $43.00 in a research report report published on Thursday, Benzinga reports. Bank of America currently has an underperform rating on the utilities provider’s stock.

FE has been the subject of several other reports. Mizuho lifted their price objective on FirstEnergy from $38.00 to $41.00 and gave the stock a neutral rating in a research report on Monday, June 3rd. Scotiabank upped their target price on FirstEnergy from $40.00 to $45.00 and gave the company a sector perform rating in a report on Tuesday, August 20th. Barclays upped their price objective on FirstEnergy from $39.00 to $40.00 and gave the company an equal weight rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. increased their target price on FirstEnergy from $43.00 to $45.00 and gave the stock a neutral rating in a research report on Wednesday, August 7th. Finally, Morgan Stanley increased their price objective on FirstEnergy from $45.00 to $48.00 and gave the stock an overweight rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, FirstEnergy currently has a consensus rating of Hold and an average target price of $43.27.

FirstEnergy Price Performance

Shares of NYSE FE opened at $43.92 on Thursday. The firm has a market cap of $25.28 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 2.43 and a beta of 0.49. FirstEnergy has a 1-year low of $32.18 and a 1-year high of $44.07. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. The business’s 50 day moving average is $40.86 and its 200-day moving average is $39.28.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter last year, the business posted $0.47 EPS. Equities research analysts predict that FirstEnergy will post 2.71 earnings per share for the current year.

FirstEnergy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a $0.425 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 annualized dividend and a yield of 3.87%. FirstEnergy’s dividend payout ratio (DPR) is presently 97.70%.

Institutional Investors Weigh In On FirstEnergy

Several institutional investors and hedge funds have recently made changes to their positions in FE. Sachetta LLC bought a new stake in shares of FirstEnergy during the 4th quarter valued at $25,000. FinTrust Capital Advisors LLC raised its position in shares of 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 buying an additional 610 shares in the last quarter. ST Germain D J Co. Inc. grew 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 valued at $26,000 after purchasing an additional 615 shares during the last quarter. Scarborough Advisors LLC bought a new position in FirstEnergy during the 4th quarter valued at about $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in FirstEnergy in the 2nd quarter worth about $32,000. Institutional investors 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.