FirstEnergy Corp. (NYSE:FE) shares gapped up before the market opened on Friday . The stock had previously closed at $38.48, but opened at $39.44. FirstEnergy shares last traded at $40.97, with a volume of 13492238 shares.
A number of equities research analysts have commented on the stock. Zacks Investment Research downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, February 6th. Morgan Stanley set a $44.00 price objective on shares of FirstEnergy and gave the stock a “buy” rating in a research report on Friday. Finally, Bank of America lifted their price objective on shares of FirstEnergy from $41.00 to $46.00 and gave the stock a “buy” rating in a research report on Thursday, March 28th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $42.86.
The company has a debt-to-equity ratio of 2.63, a current ratio of 0.52 and a quick ratio of 0.46. The firm has a market capitalization of $21.77 billion, a PE ratio of 15.82 and a beta of 0.30.
FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Tuesday, February 19th. The utilities provider reported $0.50 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. FirstEnergy had a return on equity of 21.13% and a net margin of 10.41%. The firm had revenue of $2.71 billion during the quarter, compared to the consensus estimate of $2.67 billion. During the same period in the prior year, the business earned $0.71 EPS. As a group, analysts anticipate that FirstEnergy Corp. will post 2.57 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Saturday, June 1st. Stockholders of record on Tuesday, May 7th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.71%. The ex-dividend date of this dividend is Monday, May 6th. FirstEnergy’s payout ratio is currently 58.69%.
In other FirstEnergy news, EVP James F. Pearson sold 40,000 shares of FirstEnergy stock in a transaction that occurred on Wednesday, January 9th. The stock was sold at an average price of $37.87, for a total value of $1,514,800.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Leila L. Vespoli sold 24,400 shares of FirstEnergy stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $41.33, for a total value of $1,008,452.00. The disclosure for this sale can be found here. 0.27% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Lake Point Wealth Management acquired a new stake in FirstEnergy in the 4th quarter valued at about $25,000. Whittier Trust Co. of Nevada Inc. acquired a new position in FirstEnergy during the fourth quarter worth about $34,000. Patriot Financial Group Insurance Agency LLC raised its position in FirstEnergy by 98.4% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 666 shares during the last quarter. Kaizen Advisory LLC raised its position in FirstEnergy by 23.6% during the fourth quarter. Kaizen Advisory LLC now owns 1,328 shares of the utilities provider’s stock worth $50,000 after acquiring an additional 254 shares during the last quarter. Finally, Capital Investment Advisory Services LLC purchased a new stake in shares of FirstEnergy in the fourth quarter valued at about $52,000. Institutional investors own 90.95% of the company’s stock.
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About FirstEnergy (NYSE:FE)
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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