FirstEnergy (NYSE:FE) Receives New Coverage from Analysts at Barclays

Posted by Defense World Staff on Aug 24th, 2023

Barclays initiated coverage on shares of FirstEnergy (NYSE:FE – Free Report) in a report issued on Wednesday, MarketBeat reports. The brokerage issued an equal weight rating and a $37.00 price objective on the utilities provider’s stock.

A number of other equities analysts have also recently issued reports on FE. Guggenheim decreased their price objective on shares of FirstEnergy from $46.00 to $44.00 in a research report on Friday, July 7th. Morgan Stanley boosted their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company an overweight rating in a research report on Friday, July 21st. TheStreet cut shares of FirstEnergy from a b rating to a c+ rating in a research report on Friday, August 4th. UBS Group cut shares of FirstEnergy from a buy rating to a neutral rating and decreased their price objective for the company from $45.00 to $40.00 in a research report on Monday, August 7th. Finally, StockNews.com assumed coverage on shares of FirstEnergy in a research report on Thursday, August 17th. They issued a hold rating on the stock. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $41.44.

View Our Latest Stock Analysis on FirstEnergy

FirstEnergy Stock Performance

FirstEnergy stock opened at $36.38 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 2.07. The company has a market capitalization of $20.86 billion, a PE ratio of 46.05, a P/E/G ratio of 2.20 and a beta of 0.45. The firm has a fifty day simple moving average of $38.34 and a two-hundred day simple moving average of $39.05. FirstEnergy has a twelve month low of $35.58 and a twelve month high of $43.31.

FirstEnergy (NYSE:FE – Get Free Report) last posted its quarterly earnings results on Tuesday, August 1st. The utilities provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.89 billion. FirstEnergy had a net margin of 3.55% and a return on equity of 12.41%. Research analysts expect that FirstEnergy will post 2.53 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Investors of record on Monday, August 7th will be paid a dividend of $0.39 per share. This represents a $1.56 annualized dividend and a yield of 4.29%. The ex-dividend date is Friday, August 4th. FirstEnergy’s payout ratio is currently 197.47%.

Institutional Investors Weigh In On FirstEnergy

Hedge funds have recently bought and sold shares of the business. GW&K Investment Management LLC boosted its stake in FirstEnergy by 159.2% during the fourth quarter. GW&K Investment Management LLC now owns 635 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 390 shares in the last quarter. Clear Street Markets LLC lifted its stake in shares of FirstEnergy by 549.0% in the fourth quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock worth $27,000 after buying an additional 549 shares in the last quarter. U.S. Capital Wealth Advisors LLC bought a new position in shares of FirstEnergy in the fourth quarter worth approximately $27,000. Certified Advisory Corp bought a new position in shares of FirstEnergy in the first quarter worth approximately $29,000. Finally, Householder Group Estate & Retirement Specialist LLC bought a new position in shares of FirstEnergy in the first quarter worth approximately $30,000. Institutional investors own 85.35% of the company’s stock.

About FirstEnergy

(Get Free Report)

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.