FirstEnergy Corp. (NYSE:FE) Receives $46.00 Average PT from Analysts

FirstEnergy Corp. (NYSE:FE - Get Free Report) has been assigned an average recommendation of "Hold" from the fourteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Eight research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $46.00.

A number of research firms have commented on FE. UBS Group increased their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company a "neutral" rating in a report on Friday, March 21st. Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Guggenheim raised their price target on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Bank of America upgraded shares of FirstEnergy from an "underperform" rating to a "neutral" rating and raised their price target for the stock from $42.00 to $45.00 in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company raised their price target on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an "equal weight" rating in a report on Friday, April 25th.

Insider Activity at FirstEnergy

In related news, CAO Jason Lisowski sold 12,000 shares of FirstEnergy stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the completion of the sale, the chief accounting officer now owns 183 shares in the company, valued at approximately $7,680.51. This trade represents a 98.50% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.17% of the stock is owned by insiders.

Institutional Trading of FirstEnergy

Several institutional investors have recently added to or reduced their stakes in the stock. Schroder Investment Management Group boosted its position in FirstEnergy by 56.0% in the 4th quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock valued at $1,933,000 after buying an additional 17,506 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in FirstEnergy by 41.8% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider's stock valued at $1,902,000 after buying an additional 14,129 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in FirstEnergy by 17.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider's stock valued at $211,000 after buying an additional 797 shares during the period. Truist Financial Corp boosted its position in FirstEnergy by 19.0% in the 4th quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider's stock valued at $2,483,000 after buying an additional 9,979 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in FirstEnergy in the 4th quarter valued at approximately $3,584,000. Institutional investors and hedge funds own 89.41% of the company's stock.

FirstEnergy Price Performance

FE stock traded up $0.09 during mid-day trading on Friday, reaching $40.20. The company's stock had a trading volume of 5,705,394 shares, compared to its average volume of 3,834,103. The stock has a market cap of $23.20 billion, a PE ratio of 25.94, a P/E/G ratio of 2.07 and a beta of 0.40. 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 has a fifty-two week low of $37.58 and a fifty-two week high of $44.97. The company's 50 day moving average is $41.53 and its two-hundred day moving average is $40.59.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, beating analysts' consensus estimates of $0.60 by $0.07. The company had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy's quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.55 EPS. Equities research analysts expect that FirstEnergy will post 2.66 EPS for the current year.

FirstEnergy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, June 1st. Investors of record on Wednesday, May 7th were issued a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 4.43%. The ex-dividend date of this dividend was Wednesday, May 7th. This is an increase from FirstEnergy's previous quarterly dividend of $0.43. FirstEnergy's dividend payout ratio (DPR) is 94.68%.

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.