FirstEnergy (NYSE:FE) Given New $48.00 Price Target at Morgan Stanley

FirstEnergy (NYSE:FEGet Rating) had its price objective increased by Morgan Stanley from $47.00 to $48.00 in a research note published on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

A number of other research firms have also recently issued reports on FE. Wells Fargo & Company increased their target price on FirstEnergy to $45.00 in a report on Wednesday, December 14th. KeyCorp lowered their target price on FirstEnergy from $47.00 to $44.00 and set an overweight rating for the company in a report on Thursday, October 20th. Bank of America cut FirstEnergy from a neutral rating to an underperform rating and decreased their price objective for the company from $41.00 to $38.00 in a report on Monday. StockNews.com started coverage on FirstEnergy in a report on Wednesday, October 12th. They issued a hold rating for the company. Finally, Guggenheim upgraded FirstEnergy from a neutral rating to a buy rating and raised their price objective for the company from $34.00 to $46.00 in a report on Monday. One investment analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average price target of $44.13.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $41.14 on Monday. The company has a market capitalization of $23.52 billion, a PE ratio of 18.79, a PEG ratio of 2.64 and a beta of 0.45. FirstEnergy has a 12 month low of $35.32 and a 12 month high of $48.85. The company has a current ratio of 0.66, a quick ratio of 0.56 and a debt-to-equity ratio of 1.86. The stock’s fifty day simple moving average is $41.30 and its 200 day simple moving average is $39.71.

FirstEnergy (NYSE:FEGet Rating) last issued its quarterly earnings data on Tuesday, October 25th. The utilities provider reported $0.79 EPS for the quarter, topping the consensus estimate of $0.77 by $0.02. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.14 billion. FirstEnergy had a return on equity of 13.76% and a net margin of 10.35%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. On average, research analysts predict that FirstEnergy will post 2.43 EPS for the current year.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 1st. Investors of record on Tuesday, February 7th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date is Monday, February 6th. FirstEnergy’s payout ratio is currently 71.23%.

Hedge Funds Weigh In On FirstEnergy

A number of hedge funds and other institutional investors have recently bought and sold shares of FE. AdvisorNet Financial Inc lifted its position in FirstEnergy by 11.9% during the fourth quarter. AdvisorNet Financial Inc now owns 2,511 shares of the utilities provider’s stock worth $105,000 after acquiring an additional 268 shares during the last quarter. Vantage Consulting Group Inc lifted its position in FirstEnergy by 4.5% during the third quarter. Vantage Consulting Group Inc now owns 6,577 shares of the utilities provider’s stock worth $243,000 after acquiring an additional 284 shares during the last quarter. Moody National Bank Trust Division lifted its position in FirstEnergy by 3.9% during the third quarter. Moody National Bank Trust Division now owns 7,947 shares of the utilities provider’s stock worth $294,000 after acquiring an additional 299 shares during the last quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in FirstEnergy by 13.8% during the second quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 2,574 shares of the utilities provider’s stock worth $99,000 after acquiring an additional 312 shares during the last quarter. Finally, Allworth Financial LP lifted its position in FirstEnergy by 64.7% during the second quarter. Allworth Financial LP now owns 858 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 337 shares during the last quarter. Institutional investors own 81.80% of the company’s stock.

FirstEnergy Company Profile

(Get Rating)

FirstEnergy Corp. engages in the generation, transmission, and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission, and Corporate. The Regulated Distribution segment distributes electricity through FirstEnergy’s utility operating companies, serving various customers.

See Also

Analyst Recommendations for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.