FirstEnergy (FE) – Analysts’ Weekly Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of FirstEnergy (NYSE: FE) in the last few weeks:

• 9/30/2024 – FirstEnergy had its price target raised by analysts at KeyCorp from $46.00 to $47.00. They now have an “overweight” rating on the stock.
• 9/25/2024 – FirstEnergy had its price target raised by analysts at Morgan Stanley from $48.00 to $51.00. They now have an “overweight” rating on the stock.
• 9/20/2024 – FirstEnergy was upgraded by analysts at Argus from a “hold” rating to a “buy” rating. They now have a $50.00 price target on the stock.
• 9/16/2024 – FirstEnergy had its price target raised by analysts at KeyCorp from $45.00 to $46.00. They now have an “overweight” rating on the stock.
• 8/29/2024 – FirstEnergy had its price target raised by analysts at Bank of America Co. from $42.00 to $43.00. They now have an “underperform” rating on the stock.
• 8/23/2024 – FirstEnergy had its price target raised by analysts at Morgan Stanley from $45.00 to $48.00. They now have an “overweight” rating on the stock.
• 8/20/2024 – FirstEnergy had its price target raised by analysts at Scotiabank from $40.00 to $45.00. They now have a “sector perform” rating on the stock.
• 8/14/2024 – FirstEnergy had its price target raised by analysts at KeyCorp from $43.00 to $45.00. They now have an “overweight” rating on the stock.
• 8/7/2024 – FirstEnergy had its price target raised by analysts at JPMorgan Chase & Co. from $43.00 to $45.00. They now have a “neutral” rating on the stock.

FirstEnergy Trading Down 1.3 %

Shares of FirstEnergy stock traded down $0.56 on Thursday, reaching $43.49. 2,306,490 shares of the company were exchanged, compared to its average volume of 2,952,333. The stock has a fifty day moving average price of $43.21 and a 200-day moving average price of $40.33. The firm has a market capitalization of $25.05 billion, a price-to-earnings ratio of 24.99, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. FirstEnergy Corp. has a fifty-two week low of $32.97 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. On average, analysts expect that FirstEnergy Corp. will post 2.7 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.425 dividend. The ex-dividend date is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.91%. FirstEnergy’s payout ratio is presently 97.70%.

Institutional Investors Weigh In On FirstEnergy

Large investors have recently bought and sold shares of the business. Sachetta LLC grew its holdings in FirstEnergy by 36.0% during the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 246 shares during the period. Commonwealth Financial Services LLC boosted its position in FirstEnergy by 4.4% during the second quarter. Commonwealth Financial Services LLC now owns 5,869 shares of the utilities provider’s stock valued at $226,000 after acquiring an additional 249 shares during the last quarter. Balanced Wealth Group LLC grew its stake in shares of FirstEnergy by 1.0% in the 2nd quarter. Balanced Wealth Group LLC now owns 26,500 shares of the utilities provider’s stock valued at $1,015,000 after buying an additional 264 shares during the period. Richardson Financial Services Inc. grew its stake in shares of FirstEnergy by 6.2% in the 1st quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider’s stock valued at $193,000 after buying an additional 290 shares during the period. Finally, Marcum Wealth LLC grew its stake in shares of FirstEnergy by 3.8% in the 1st quarter. Marcum Wealth LLC now owns 7,973 shares of the utilities provider’s stock valued at $308,000 after buying an additional 295 shares during the period. 89.41% of the stock is currently owned by institutional investors.

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.