FirstEnergy (FE) Price Target Increased to $41.00 by Analysts at Bank of America

FirstEnergy (NYSE:FE) had its price target lifted by Bank of America from $39.00 to $41.00 in a research note published on Monday morning, MarketBeat reports. The brokerage currently has a buy rating on the utilities provider’s stock.

A number of other equities analysts have also commented on FE. Barclays initiated coverage on shares of FirstEnergy in a research report on Tuesday, July 10th. They set an equal weight rating and a $39.00 price target on the stock. Morgan Stanley raised their price target on shares of FirstEnergy from $36.00 to $39.00 and gave the stock a buy rating in a research report on Monday, July 16th. Zacks Investment Research raised shares of FirstEnergy from a hold rating to a buy rating and set a $40.00 price target on the stock in a research report on Tuesday, July 17th. Howard Weil initiated coverage on shares of FirstEnergy in a research report on Tuesday, July 24th. They set a sector outperform rating and a $39.00 price target on the stock. Finally, TheStreet raised shares of FirstEnergy from a c+ rating to a b rating in a research report on Tuesday, July 31st. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. FirstEnergy has an average rating of Buy and an average price target of $39.90.

Shares of FE traded up $0.08 during trading hours on Monday, hitting $37.34. The company had a trading volume of 168,088 shares, compared to its average volume of 3,771,578. The firm has a market capitalization of $18.78 billion, a PE ratio of 12.17, a PEG ratio of 2.41 and a beta of 0.29. FirstEnergy has a 12 month low of $29.33 and a 12 month high of $39.01. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, October 25th. The utilities provider reported $0.80 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.09. FirstEnergy had a negative net margin of 11.86% and a positive return on equity of 24.42%. The business had revenue of $3.06 billion for the quarter, compared to analyst estimates of $2.82 billion. Analysts predict that FirstEnergy will post 2.54 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, December 1st. Shareholders of record on Wednesday, November 7th will be paid a dividend of $0.36 per share. The ex-dividend date is Tuesday, November 6th. This represents a $1.44 dividend on an annualized basis and a yield of 3.86%. FirstEnergy’s payout ratio is 46.91%.

Institutional investors have recently made changes to their positions in the business. Investment Partners LTD. acquired a new stake in FirstEnergy during the third quarter worth about $216,000. Reilly Financial Advisors LLC grew its stake in FirstEnergy by 285.8% during the second quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after buying an additional 2,132 shares in the last quarter. Winslow Evans & Crocker Inc. acquired a new stake in FirstEnergy during the third quarter worth about $114,000. IMA Wealth Inc. acquired a new stake in FirstEnergy during the second quarter worth about $180,000. Finally, Piedmont Investment Advisors LLC acquired a new stake in FirstEnergy during the second quarter worth about $189,000. Hedge funds and other institutional investors own 94.43% of the company’s stock.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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Analyst Recommendations for FirstEnergy (NYSE:FE)

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