FirstEnergy (NYSE:FE) Price Target Raised to $49.00 at Scotiabank

FirstEnergy (NYSE:FE) had its price objective boosted by Scotiabank from $46.00 to $49.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a sector outperform rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. Morgan Stanley decreased their price target on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Thursday, September 25th. Barclays upgraded shares of FirstEnergy from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. UBS Group set a $44.00 target price on FirstEnergy and gave the company a “neutral” rating in a research note on Tuesday, June 24th. KeyCorp restated an “overweight” rating and set a $46.00 price target (down previously from $47.00) on shares of FirstEnergy in a research report on Wednesday, July 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of FirstEnergy in a research note on Saturday, September 27th. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $46.25.

FirstEnergy Stock Performance

NYSE:FE opened at $46.36 on Monday. The stock has a market cap of $26.77 billion, a P/E ratio of 20.51, a PEG ratio of 2.82 and a beta of 0.52. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. The business’s 50-day moving average price is $43.75 and its two-hundred day moving average price is $41.92. FirstEnergy has a twelve month low of $37.58 and a twelve month high of $46.39.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $3.40 billion during the quarter, compared to analyst estimates of $3.45 billion. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.During the same quarter in the previous year, the firm earned $0.56 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities analysts predict that FirstEnergy will post 2.66 EPS for the current fiscal year.

FirstEnergy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Friday, November 7th will be issued a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 annualized dividend and a yield of 3.8%. FirstEnergy’s dividend payout ratio is currently 78.76%.

Institutional Trading of FirstEnergy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in shares of FirstEnergy by 1.3% in the second quarter. Vanguard Group Inc. now owns 66,988,086 shares of the utilities provider’s stock worth $2,696,940,000 after purchasing an additional 837,872 shares during the last quarter. Boston Partners boosted its position in FirstEnergy by 14.9% during the 1st quarter. Boston Partners now owns 18,962,859 shares of the utilities provider’s stock valued at $767,952,000 after buying an additional 2,459,779 shares during the period. Geode Capital Management LLC grew its holdings in FirstEnergy by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 13,091,114 shares of the utilities provider’s stock worth $524,764,000 after acquiring an additional 146,742 shares during the last quarter. Federated Hermes Inc. grew its holdings in FirstEnergy by 198.1% in the 2nd quarter. Federated Hermes Inc. now owns 6,888,967 shares of the utilities provider’s stock worth $277,350,000 after acquiring an additional 4,578,375 shares during the last quarter. Finally, Legal & General Group Plc increased its position in shares of FirstEnergy by 8.6% in the second quarter. Legal & General Group Plc now owns 4,715,098 shares of the utilities provider’s stock valued at $189,830,000 after acquiring an additional 374,053 shares during the period. Institutional investors own 89.41% of the company’s stock.

About FirstEnergy

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.