FirstEnergy (FE) Hits New 52-Week High and Low at $35.52

FirstEnergy (NYSE:FE) reached a new 52-week high and low during trading on Wednesday . The company traded as low as $35.52 and last traded at $35.26, with a volume of 1467341 shares. The stock had previously closed at $35.06.

A number of research firms have recently commented on FE. Morgan Stanley lifted their target price on FirstEnergy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday. UBS began coverage on FirstEnergy in a research note on Friday, February 2nd. They set a “buy” rating and a $39.00 target price on the stock. Zacks Investment Research upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research note on Tuesday, January 23rd. Citigroup lowered their target price on FirstEnergy from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 30th. Finally, Bank of America upgraded FirstEnergy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $32.09 to $36.00 in a research note on Friday, January 26th. Nine equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $35.54.

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The company has a market cap of $16,693.20, a PE ratio of 11.47, a PEG ratio of 14.79 and a beta of 0.26. The company has a quick ratio of 0.65, a current ratio of 0.76 and a debt-to-equity ratio of 5.38.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, February 20th. The utilities provider reported $0.71 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.03. FirstEnergy had a positive return on equity of 24.02% and a negative net margin of 12.30%. The business had revenue of $3.40 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period in the previous year, the business posted $0.38 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. equities analysts forecast that FirstEnergy will post 2.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Monday, May 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date is Friday, May 4th. FirstEnergy’s dividend payout ratio is currently 46.91%.

A number of institutional investors have recently made changes to their positions in the stock. Elkfork Partners LLC bought a new stake in FirstEnergy in the 4th quarter valued at about $574,000. Envestnet Asset Management Inc. grew its holdings in FirstEnergy by 20.4% during the 4th quarter. Envestnet Asset Management Inc. now owns 13,698 shares of the utilities provider’s stock valued at $420,000 after buying an additional 2,323 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in FirstEnergy by 151.5% during the 4th quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 310,008 shares of the utilities provider’s stock valued at $9,492,000 after buying an additional 186,743 shares in the last quarter. Sawtooth Solutions LLC grew its holdings in FirstEnergy by 276.6% during the 4th quarter. Sawtooth Solutions LLC now owns 40,446 shares of the utilities provider’s stock valued at $1,239,000 after buying an additional 29,705 shares in the last quarter. Finally, Banco de Sabadell S.A purchased a new position in FirstEnergy during the 4th quarter valued at about $4,644,000. Institutional investors and hedge funds own 78.76% of the company’s stock.

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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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