FirstEnergy Corp. (NYSE:FE) Short Interest Down 16.6% in April

FirstEnergy Corp. (NYSE:FEGet Rating) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totalling 8,770,000 shares, a drop of 16.6% from the April 15th total of 10,510,000 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily volume of 4,430,000 shares, the short-interest ratio is currently 2.0 days.

A number of equities analysts have recently issued reports on FE shares. KeyCorp upped their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 20th. Zacks Investment Research upgraded FirstEnergy from a “sell” rating to a “hold” rating and set a $47.00 target price for the company in a research report on Wednesday, March 16th. Wells Fargo & Company upped their price objective on shares of FirstEnergy from $43.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday, April 25th. Bank of America downgraded shares of FirstEnergy from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $52.00 to $44.00 in a report on Monday. Finally, StockNews.com assumed coverage on FirstEnergy in a report on Thursday, March 31st. They issued a “hold” rating on the stock. Six research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $46.67.

NYSE:FE opened at $41.75 on Tuesday. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.52 and a quick ratio of 0.45. The firm has a 50-day moving average of $44.87 and a 200-day moving average of $42.04. The company has a market cap of $23.84 billion, a PE ratio of 18.64, a PEG ratio of 2.77 and a beta of 0.37. FirstEnergy has a one year low of $35.42 and a one year high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last posted its quarterly earnings results on Thursday, April 21st. The utilities provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $2.85 billion. FirstEnergy had a return on equity of 17.17% and a net margin of 10.85%. The company’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the firm posted $0.69 EPS. On average, equities research analysts expect that FirstEnergy will post 2.41 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Shareholders of record on Friday, May 6th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 5th. This represents a $1.56 dividend on an annualized basis and a yield of 3.74%. FirstEnergy’s dividend payout ratio is currently 69.64%.

Several institutional investors have recently bought and sold shares of FE. GQG Partners LLC bought a new stake in FirstEnergy in the 1st quarter worth $427,256,000. Allspring Global Investments Holdings LLC bought a new stake in shares of FirstEnergy during the 4th quarter valued at $253,315,000. Vanguard Group Inc. boosted its stake in FirstEnergy by 7.0% during the first quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock worth $3,128,322,000 after acquiring an additional 4,443,050 shares in the last quarter. State Street Corp grew its stake in shares of FirstEnergy by 8.5% in the 1st quarter. State Street Corp now owns 43,839,325 shares of the utilities provider’s stock worth $2,010,471,000 after buying an additional 3,438,236 shares during the last quarter. Finally, Invesco Ltd. increased its stake in FirstEnergy by 22.0% during the 1st quarter. Invesco Ltd. now owns 17,864,322 shares of the utilities provider’s stock valued at $819,258,000 after purchasing an additional 3,220,337 shares in the last quarter. Hedge funds and other institutional investors own 87.78% of the company’s stock.

FirstEnergy Company Profile (Get Rating)

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, natural gas, wind, and solar power generating facilities.

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