FirstEnergy Target of Unusually High Options Trading (NYSE:FE)

Posted by Defense World Staff on Sep 8th, 2023

FirstEnergy Corp. (NYSE:FE – Get Free Report) saw unusually large options trading on Thursday. Stock traders bought 7,057 put options on the company. This is an increase of approximately 307% compared to the average volume of 1,734 put options.

Analyst Ratings Changes

FE has been the topic of a number of research reports. Guggenheim cut their price target on shares of FirstEnergy from $46.00 to $44.00 in a research note on Friday, July 7th. Royal Bank of Canada reduced their target price on shares of FirstEnergy from $44.00 to $41.00 and set an “outperform” rating for the company in a research note on Wednesday. StockNews.com downgraded FirstEnergy from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Barclays assumed coverage on FirstEnergy in a research report on Wednesday, August 23rd. They set an “equal weight” rating and a $37.00 price objective for the company. Finally, TheStreet downgraded FirstEnergy from a “b” rating to a “c+” rating in a report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, FirstEnergy has a consensus rating of “Hold” and a consensus price target of $41.40.

Get Our Latest Analysis on FirstEnergy

Institutional Trading of FirstEnergy

A number of hedge funds have recently made changes to their positions in FE. Dimensional Fund Advisors LP grew its stake in shares of FirstEnergy by 5.5% in the first quarter. Dimensional Fund Advisors LP now owns 1,648,832 shares of the utilities provider’s stock valued at $75,615,000 after acquiring an additional 86,132 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of FirstEnergy by 10.1% during the first quarter. Vontobel Holding Ltd. now owns 10,066 shares of the utilities provider’s stock worth $461,000 after purchasing an additional 923 shares during the last quarter. Blair William & Co. IL grew its holdings in FirstEnergy by 26.5% during the 1st quarter. Blair William & Co. IL now owns 9,044 shares of the utilities provider’s stock worth $415,000 after acquiring an additional 1,892 shares during the last quarter. Allianz Asset Management GmbH grew its stake in shares of FirstEnergy by 51.0% in the first quarter. Allianz Asset Management GmbH now owns 618,302 shares of the utilities provider’s stock worth $28,355,000 after purchasing an additional 208,803 shares during the last quarter. Finally, Prudential PLC acquired a new stake in shares of FirstEnergy in the first quarter valued at about $577,000. 82.34% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Stock Up 1.1 %

FE stock opened at $35.46 on Friday. The company has a market cap of $20.33 billion, a price-to-earnings ratio of 44.89, a P/E/G ratio of 2.15 and a beta of 0.45. FirstEnergy has a twelve month low of $34.69 and a twelve month high of $43.31. The business has a 50 day moving average price of $37.66 and a two-hundred day moving average price of $38.73. The company has a quick ratio of 0.49, a current ratio of 0.60 and a debt-to-equity ratio of 2.07.

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

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Monday, August 7th were paid a $0.39 dividend. The ex-dividend date was Friday, August 4th. This represents a $1.56 annualized dividend and a yield of 4.40%. FirstEnergy’s dividend payout ratio is 197.47%.

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.

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