FirstEnergy Corp. (FE) Receives Average Recommendation of “Buy” from Analysts

FirstEnergy Corp. (NYSE:FE) has been assigned a consensus recommendation of “Buy” from the sixteen brokerages that are covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and ten have given a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $38.26.

Several brokerages have recently weighed in on FE. Zacks Investment Research cut FirstEnergy from a “buy” rating to a “hold” rating in a report on Friday, June 22nd. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a report on Friday, June 1st. Morgan Stanley raised their price objective on FirstEnergy from $39.00 to $41.00 and gave the company a “buy” rating in a report on Tuesday, September 11th. Howard Weil began coverage on FirstEnergy in a report on Tuesday, July 24th. They issued a “sector outperform” rating and a $39.00 price objective for the company. Finally, Bank of America raised their price objective on FirstEnergy from $38.00 to $39.00 and gave the company a “buy” rating in a report on Wednesday, August 1st.

Shares of NYSE FE traded up $0.04 during mid-day trading on Friday, hitting $37.83. The company had a trading volume of 2,496,420 shares, compared to its average volume of 2,689,784. The stock has a market capitalization of $18.35 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 2.56 and a beta of 0.27. The company has a debt-to-equity ratio of 2.18, a current ratio of 0.47 and a quick ratio of 0.41. FirstEnergy has a one year low of $29.33 and a one year high of $38.37.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 31st. The utilities provider reported $0.62 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.09. The company had revenue of $2.70 billion during the quarter, compared to analysts’ expectations of $2.56 billion. FirstEnergy had a positive return on equity of 24.39% and a negative net margin of 4.60%. During the same quarter last year, the company earned $0.61 EPS. sell-side analysts expect that FirstEnergy will post 2.46 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, September 1st. Investors of record on Tuesday, August 7th were paid a $0.36 dividend. The ex-dividend date of this dividend was Monday, August 6th. This represents a $1.44 annualized dividend and a yield of 3.81%. FirstEnergy’s dividend payout ratio (DPR) is currently 46.91%.

Large investors have recently modified their holdings of the stock. Koch Industries Inc. acquired a new stake in FirstEnergy in the 1st quarter valued at about $682,000. Renaissance Technologies LLC lifted its position in FirstEnergy by 23.1% during the second quarter. Renaissance Technologies LLC now owns 12,007,408 shares of the utilities provider’s stock worth $431,186,000 after acquiring an additional 2,251,708 shares during the last quarter. Achmea Investment Management B.V. lifted its position in FirstEnergy by 21.3% during the second quarter. Achmea Investment Management B.V. now owns 126,776 shares of the utilities provider’s stock worth $4,552,000 after acquiring an additional 22,287 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in FirstEnergy during the first quarter worth approximately $774,000. Finally, Employees Retirement System of Texas lifted its position in FirstEnergy by 206.1% during the second quarter. Employees Retirement System of Texas now owns 65,346 shares of the utilities provider’s stock worth $2,347,000 after acquiring an additional 44,000 shares during the last quarter. Institutional investors and hedge funds own 94.41% of the company’s stock.

FirstEnergy Company Profile

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

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Analyst Recommendations for FirstEnergy (NYSE:FE)

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