Stocks of FirstEnergy Corp. (NYSE:FE) traded higher last session on Wall Street, up 2.02% to $36.89.
According to the data, FirstEnergy Corp. (NYSE:FE) has 17 analysts covering its stock. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $45.00 and a low of $36.00, we find $42.00. Given the previous closing price of $36.16, this indicates a potential upside of 16.15 percent. FE stock price is now -1.55% away from the 50-day moving average and -6.45% away from the 200-day moving average. The market capitalization of the company currently stands at $21.06B.
A total of 8 analysts have issued a hold rating and 7 have given it a buy rating. Brokers who have rated the stock have averaged $41.50 as their price target over the next twelve months.
With the price target of $37, Barclays recently initiated with Equal Weight rating for FirstEnergy Corp. (NYSE: FE).
Insiders disposed of 122,135 shares of company stock worth roughly $4.51 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in FE stock. A new stake in FirstEnergy Corp. shares was purchased by UNISUPER MANAGEMENT PTY LTD during the first quarter worth $29,916,000. LIGHTHOUSE INVESTMENT PARTNERS, LLC invested $14,630,000 in shares of FE during the first quarter. In the first quarter, CRESTLINE MANAGEMENT, LP acquired a new stake in FirstEnergy Corp. valued at approximately $8,710,000. MARSHALL WACE, LLP acquired a new stake in FE for approximately $6,284,000. MASSACHUSETTS FINANCIAL SERVICES CO /MA/ purchased a new stake in FE valued at around $5,894,000 in the second quarter. In total, there are 988 active investors with 89.00% ownership of the company’s stock.
Thursday’s opening bell rang with an opening price of $36.41 for FirstEnergy Corp. (NYSE: FE). During the past 12 months, FirstEnergy Corp. has had a low of $34.69 and a high of $43.31. As of last week, the company has a debt-to-equity ratio of 2.28, a current ratio of 0.60, and a quick ratio of 0.50. According to the stock market information, the enterprise value for the company is $44.57B, which is based on a 46.29 price-to-earnings ratio, a 6.85 price-to-earnings-growth ratio, and a beta of 0.45. The fifty day moving average price for FE is $37.42 and a two-hundred day moving average price translates $39.42 for the stock.
The latest earnings results from FirstEnergy Corp. (NYSE: FE) was released for Jun, 2023. According to the Utilities – Regulated Electric Company, earnings per share came in at $0.47, beating analysts’ expectations of $0.45 by 0.02. This compares to $0.33 EPS in the same period last year. The net profit margin was 3.60% and return on equity was 4.40% for FE. The company reported revenue of $3.01 billion for the quarter, compared to $2.82 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 6.67 percent. For the current quarter, analysts expect FE to generate $3.57B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 09/01/2023. Investors who held shares on 08/07/2023 were paid a $0.39 dividend. On an annualized basis, this represents a $1.56 dividend and a 4.23% percent yield. There was an ex-dividend date of 08/04/2023 for this dividend. In terms of dividend payout ratio, FE is presently at 195.10%.
