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FirstEnergy Corporation (NYSE:FE) Receives Consensus Rating of "Hold" from Analysts

FirstEnergy logo with Utilities background

Key Points

  • FirstEnergy Corporation has received a consensus recommendation of "Hold" from 14 analysts, with 8 ratings for hold and 6 for buy, while the average price target is $45.92.
  • Recent insider transactions were reported, including CFO Jon Taylor K. selling 12,000 shares for $516,360, indicating a 10.72% decrease in ownership.
  • The company announced a quarterly dividend of $0.445, with a yield of 4.24%, to be paid on September 1st to shareholders of record on August 7th.
  • Five stocks to consider instead of FirstEnergy.

Shares of FirstEnergy Corporation (NYSE:FE - Get Free Report) have received a consensus rating of "Hold" from the fourteen research firms that are covering the company, MarketBeat reports. Eight investment analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $45.92.

Several equities research analysts have recently commented on FE shares. Wells Fargo & Company boosted their target price 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. Morgan Stanley cut their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Wednesday, June 18th. Guggenheim lifted their price target on FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a report on Monday, April 7th. Bank of America raised FirstEnergy from an "underperform" rating to a "neutral" rating and lifted their price target for the company from $42.00 to $45.00 in a report on Wednesday, April 23rd. Finally, Evercore ISI lifted their price target on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, April 28th.

Check Out Our Latest Stock Report on FE

Insider Activity at FirstEnergy

In other FirstEnergy news, CFO Jon Taylor K. sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total value of $516,360.00. Following the sale, the chief financial officer owned 99,919 shares in the company, valued at approximately $4,299,514.57. The trade was a 10.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Jason Lisowski sold 12,000 shares of the business's 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 owned 183 shares in the company, valued at $7,680.51. The trade was a 98.50% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Schroder Investment Management Group grew its holdings 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 in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in FirstEnergy by 14.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider's stock valued at $2,883,000 after buying an additional 8,879 shares in the last quarter. Johnson Investment Counsel Inc. grew its holdings in FirstEnergy by 3.8% in the 1st quarter. Johnson Investment Counsel Inc. now owns 9,983 shares of the utilities provider's stock valued at $403,000 after buying an additional 366 shares in the last quarter. Mariner LLC grew its holdings in FirstEnergy by 16.1% in the 4th quarter. Mariner LLC now owns 95,039 shares of the utilities provider's stock valued at $3,781,000 after buying an additional 13,196 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its holdings in FirstEnergy by 9.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider's stock valued at $718,000 after buying an additional 1,464 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Performance

FE stock traded up $0.52 during midday trading on Monday, hitting $42.31. The stock had a trading volume of 1,518,554 shares, compared to its average volume of 4,993,583. FirstEnergy has a 52 week low of $37.58 and a 52 week high of $44.97. The company has a current ratio of 0.42, a quick ratio of 0.34 and a debt-to-equity ratio of 1.53. The stock has a 50-day simple moving average of $40.68 and a 200 day simple moving average of $40.60. The firm has a market capitalization of $24.42 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.57 and a beta of 0.39.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating the consensus estimate of $0.50 by $0.02. FirstEnergy had a net margin of 7.78% and a return on equity of 11.49%. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same quarter in the previous year, the company earned $0.56 EPS. As a group, equities research analysts anticipate that FirstEnergy will post 2.66 earnings per share for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 1st. Investors of record on Thursday, August 7th will be given a $0.445 dividend. The ex-dividend date is Thursday, August 7th. This represents a $1.78 annualized dividend and a dividend yield of 4.21%. FirstEnergy's dividend payout ratio is presently 94.68%.

About FirstEnergy

(Get Free Report

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.

Further Reading

Analyst Recommendations for FirstEnergy (NYSE:FE)

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