Firstenergy Corp. (NYSE:FE) shares traded 0.84% higher at $36.06 on Wall Street last session.
In accordance with the data, 17 analysts cover Firstenergy Corp. (NYSE:FE). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $44.00 and a low of $35.00, we find $40.50. Given the previous closing price of $35.76, this indicates a potential upside of 13.26 percent. FE stock price is now 1.33% away from the 50-day moving average and -6.33% away from the 200-day moving average. The market capitalization of the company currently stands at $20.68B.
It has been rated a hold by 8 analysts and a buy by 6. Brokers who have rated the stock have averaged $40.00 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 116,589 shares of company stock worth roughly $4.2 million over the past 1 year. A total of 0.11% 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 $29,243,000. LIGHTHOUSE INVESTMENT PARTNERS, LLC invested $14,300,000 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 $8,514,000. MARSHALL WACE, LLP acquired a new stake in FE for approximately $6,143,000. MASSACHUSETTS FINANCIAL SERVICES CO /MA/ purchased a new stake in FE valued at around $5,762,000 in the second quarter. In total, there are 988 active investors with 82.59% ownership of the company’s stock.
Firstenergy Corp. (NYSE: FE) opened at $35.80 on Thursday. During the past 12 months, Firstenergy Corp. has had a low of $32.18 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 0.49. According to the stock market information, the enterprise value for the company is $44.51B, which is based on a 45.17 price-to-earnings ratio, a 6.92 price-to-earnings-growth ratio, and a beta of 0.47. The fifty day moving average price for FE is $35.58 and a two-hundred day moving average price translates $38.46 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 3.55% and return on equity was 4.29% 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 $3.55B 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 $1.57 dividend and a 4.36% 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 219.78%.
Firstenergy Corp.(FE) Company Profile
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. It operates 24,080 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 274,518 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits. The company serves approximately 6 million customers in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. FirstEnergy Corp. was incorporated in 1996 and is headquartered in Akron, Ohio.
