KeyCorp Raises FirstEnergy (NYSE:FE) Price Target to $46.00

FirstEnergy (NYSE:FE) had its target price raised by KeyCorp from $45.00 to $46.00 in a research report released on Monday, Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other equities analysts also recently weighed in on FE. Barclays lifted their target price on FirstEnergy from $39.00 to $40.00 and gave the company an equal weight rating in a research report on Tuesday, July 9th. Morgan Stanley upped their target price on shares of FirstEnergy from $45.00 to $48.00 and gave the stock an overweight rating in a research note on Friday, August 23rd. Scotiabank raised their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the company a sector perform rating in a research report on Tuesday, August 20th. Wells Fargo & Company upped their price objective on FirstEnergy from $42.00 to $45.00 and gave the stock an equal weight rating in a research report on Thursday, August 1st. Finally, Mizuho lifted their target price on FirstEnergy from $38.00 to $41.00 and gave the company a neutral rating in a report on Monday, June 3rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, FirstEnergy has a consensus rating of Hold and a consensus target price of $43.60.

FirstEnergy Price Performance

Shares of FE opened at $43.23 on Monday. The firm has a 50-day simple moving average of $42.41 and a two-hundred day simple moving average of $39.93. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. FirstEnergy has a 1-year low of $32.18 and a 1-year high of $44.97. The stock has a market cap of $24.88 billion, a PE ratio of 24.84, a P/E/G ratio of 2.32 and a beta of 0.50.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The company had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.47 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. As a group, analysts forecast that FirstEnergy will post 2.7 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th were issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend was Wednesday, August 7th. FirstEnergy’s dividend payout ratio (DPR) is 97.70%.

Hedge Funds Weigh In On FirstEnergy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FE. Sachetta LLC purchased a new position in shares of FirstEnergy during the fourth quarter worth about $25,000. FinTrust Capital Advisors LLC grew its stake in FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after buying an additional 610 shares during the last quarter. ST Germain D J Co. Inc. lifted its stake in FirstEnergy by 1,138.9% in the second quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after buying an additional 615 shares during the last quarter. Scarborough Advisors LLC acquired a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $31,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in shares of FirstEnergy in the second quarter valued at approximately $32,000. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy 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.