FirstEnergy Corp. (NYSE:FE) Given Average Recommendation of "Hold" by Brokerages

FirstEnergy Corp. (NYSE:FE - Get Free Report) has received an average recommendation of "Hold" from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. Nine analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $46.00.

A number of analysts have commented on FE shares. Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a research note on Friday, April 25th. Evercore ISI increased their price target on shares of FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research note on Monday, April 28th. Guggenheim increased their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research note on Monday, April 7th. Bank of America upgraded shares of FirstEnergy from an "underperform" rating to a "neutral" rating and increased their price target for the company from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Finally, Wells Fargo & Company increased their price target on shares of FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a research note on Friday, April 25th.

FirstEnergy Stock Performance

Shares of FE opened at $41.23 on Wednesday. FirstEnergy has a 12 month low of $37.58 and a 12 month high of $44.97. The firm has a fifty day simple moving average of $40.70 and a 200 day simple moving average of $40.61. The stock has a market capitalization of $23.80 billion, a price-to-earnings ratio of 26.60, a PEG ratio of 2.07 and a beta of 0.42. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58.

FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, topping the consensus estimate of $0.60 by $0.07. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.80 billion during the quarter, compared to analysts' expectations of $3.68 billion. During the same quarter in the prior year, the company posted $0.55 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. Research analysts forecast that FirstEnergy will post 2.66 EPS for the current fiscal year.

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, June 1st. Investors of record on Wednesday, May 7th will be given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 4.32%. This is a positive change from FirstEnergy's previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, May 7th. FirstEnergy's dividend payout ratio (DPR) is currently 94.68%.

Insider Buying and Selling

In related news, CFO Jon Taylor K. sold 12,000 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $43.03, for a total transaction of $516,360.00. Following the transaction, the chief financial officer now directly owns 99,919 shares of the company's stock, valued at approximately $4,299,514.57. This trade represents a 10.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.17% of the stock is owned by insiders.

Hedge Funds Weigh In On FirstEnergy

A number of hedge funds have recently bought and sold shares of the business. Covestor Ltd boosted its position in shares of FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after acquiring an additional 255 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in shares of FirstEnergy during the 4th quarter worth approximately $26,000. Lee Danner & Bass Inc. acquired a new stake in shares of FirstEnergy during the 4th quarter worth approximately $26,000. N.E.W. Advisory Services LLC acquired a new stake in shares of FirstEnergy during the 1st quarter worth approximately $27,000. Finally, TruNorth Capital Management LLC boosted its position in shares of FirstEnergy by 226.9% during the 1st quarter. TruNorth Capital Management LLC now owns 706 shares of the utilities provider's stock worth $29,000 after acquiring an additional 490 shares in the last quarter. 89.41% of the stock is owned by institutional investors.

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.

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