FirstEnergy (NYSE:FE) Price Target Raised to $48.00

FirstEnergy (NYSE:FE) had its price target boosted by KeyCorp from $47.00 to $48.00 in a research note issued to investors on Tuesday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock. KeyCorp also issued estimates for FirstEnergy’s Q4 2024 earnings at $0.70 EPS, FY2025 earnings at $2.89 EPS, FY2026 earnings at $3.14 EPS, FY2027 earnings at $3.35 EPS and FY2028 earnings at $3.59 EPS.

A number of other research firms have also recently commented on FE. Scotiabank raised their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company boosted their price target on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a report on Monday, October 14th. They set a “hold” rating and a $46.00 price objective for the company. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, September 20th. Finally, Barclays lifted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Trading Down 0.4 %

Shares of NYSE:FE opened at $44.09 on Tuesday. The stock has a 50 day moving average of $43.63 and a 200 day moving average of $40.86. The company has a market cap of $25.39 billion, a PE ratio of 31.27, a price-to-earnings-growth ratio of 2.31 and a beta of 0.50. FirstEnergy has a 12-month low of $34.91 and a 12-month high of $44.97. 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 (NYSE:FE) last posted its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.56. The business had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period in the prior year, the business posted $0.47 earnings per share. As a group, equities research analysts expect that FirstEnergy will post 2.7 EPS for the current year.

FirstEnergy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 3.86%. The ex-dividend date of this dividend is Thursday, November 7th. FirstEnergy’s dividend payout ratio is presently 120.57%.

Institutional Trading of FirstEnergy

A number of hedge funds have recently added to or reduced their stakes in the business. Nisa Investment Advisors LLC raised its stake in shares of FirstEnergy by 3.7% during the 3rd quarter. Nisa Investment Advisors LLC now owns 31,263 shares of the utilities provider’s stock worth $1,387,000 after acquiring an additional 1,107 shares in the last quarter. PFG Investments LLC boosted its position in shares of FirstEnergy by 7.7% in the 3rd quarter. PFG Investments LLC now owns 20,368 shares of the utilities provider’s stock worth $903,000 after purchasing an additional 1,450 shares in the last quarter. Forsta AP Fonden grew its stake in FirstEnergy by 6.4% during the 3rd quarter. Forsta AP Fonden now owns 130,600 shares of the utilities provider’s stock worth $5,792,000 after buying an additional 7,900 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in FirstEnergy by 34.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,827 shares of the utilities provider’s stock valued at $1,490,000 after buying an additional 8,703 shares in the last quarter. Finally, Spirit of America Management Corp NY boosted its holdings in FirstEnergy by 7.9% in the third quarter. Spirit of America Management Corp NY now owns 13,700 shares of the utilities provider’s stock worth $608,000 after acquiring an additional 1,000 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other 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.