FirstEnergy (NYSE:FE) Given New $46.00 Price Target at KeyCorp

FirstEnergy (NYSE:FE) had its price objective increased by KeyCorp from $45.00 to $46.00 in a report issued on Monday morning, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

A number of other analysts also recently weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a neutral rating in a report on Wednesday, August 7th. Scotiabank boosted their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a sector perform rating in a report on Tuesday, August 20th. Bank of America boosted their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an underperform rating in a report on Thursday, August 29th. Wells Fargo & Company boosted their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an equal weight rating in a report on Thursday, August 1st. Finally, Morgan Stanley upped their price target on shares of FirstEnergy from $45.00 to $48.00 and gave the company an overweight rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $43.60.

FirstEnergy Stock Down 0.3 %

Shares of FE stock opened at $44.34 on Monday. The stock has a market cap of $25.52 billion, a P/E ratio of 25.48, a PEG ratio of 2.32 and a beta of 0.50. FirstEnergy has a 52 week low of $32.18 and a 52 week high of $44.97. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The company’s fifty day simple moving average is $42.15 and its two-hundred day simple moving average is $39.83.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. The business had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company earned $0.47 EPS. Analysts predict that FirstEnergy will post 2.7 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were paid a $0.425 dividend. The ex-dividend date was Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a yield of 3.83%. FirstEnergy’s dividend payout ratio is currently 97.70%.

Hedge Funds Weigh In On FirstEnergy

A number of hedge funds have recently added to or reduced their stakes in FE. Sachetta LLC bought a new position in FirstEnergy in the 4th quarter worth about $25,000. FinTrust Capital Advisors LLC grew its stake in FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 610 shares in the last quarter. ST Germain D J Co. Inc. grew its stake in FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 615 shares in the last quarter. Scarborough Advisors LLC bought a new position in FirstEnergy in the 4th quarter worth about $31,000. Finally, Strategic Investment Solutions Inc. IL bought a new position in FirstEnergy in the 2nd quarter worth about $32,000. 89.41% of the stock is currently owned by institutional investors.

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.