FirstEnergy (NYSE:FE) Upgraded at Wells Fargo & Company

Wells Fargo & Company upgraded shares of FirstEnergy (NYSE:FE) to a strong-buy rating in a research report released on Tuesday,Zacks.com reports.

Several other analysts also recently weighed in on the company. Morgan Stanley lifted their price objective on FirstEnergy from $47.00 to $50.00 and gave the company an “overweight” rating in a report on Tuesday, October 21st. Mizuho boosted their target price on shares of FirstEnergy from $45.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. UBS Group boosted their target price on shares of FirstEnergy from $47.00 to $50.00 and gave the stock a “neutral” rating in a report on Friday, October 24th. Jefferies Financial Group boosted their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a “hold” rating in a report on Tuesday, October 21st. Finally, KeyCorp downgraded shares of FirstEnergy from an “overweight” rating to a “sector weight” rating in a report on Tuesday, October 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, FirstEnergy currently has an average rating of “Moderate Buy” and an average price target of $49.08.

FirstEnergy Stock Performance

FE stock opened at $46.22 on Tuesday. The company has a debt-to-equity ratio of 1.80, a current ratio of 0.75 and a quick ratio of 0.51. The business has a 50-day moving average price of $45.03 and a 200 day moving average price of $42.81. The company has a market capitalization of $26.69 billion, a P/E ratio of 20.19, a PEG ratio of 2.80 and a beta of 0.52. FirstEnergy has a 1-year low of $37.58 and a 1-year high of $48.20.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $3.94 billion. FirstEnergy had a return on equity of 11.15% and a net margin of 9.19%.The firm’s quarterly revenue was up 10.8% on a year-over-year basis. During the same period in the previous year, the company posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. As a group, equities research analysts forecast that FirstEnergy will post 2.66 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Stockholders of record on Friday, November 7th will be paid a dividend of $0.445 per share. The ex-dividend date is Friday, November 7th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.9%. FirstEnergy’s payout ratio is presently 77.73%.

Institutional Investors Weigh In On FirstEnergy

A number of large investors have recently modified their holdings of FE. State of Wyoming purchased a new stake in shares of FirstEnergy during the second quarter worth about $25,000. Oliver Lagore Vanvalin Investment Group purchased a new stake in shares of FirstEnergy during the second quarter worth about $26,000. Investment Research & Advisory Group Inc. purchased a new stake in shares of FirstEnergy during the second quarter worth about $26,000. N.E.W. Advisory Services LLC purchased a new stake in shares of FirstEnergy during the first quarter worth about $27,000. Finally, Capital Advisors Ltd. LLC grew its stake in shares of FirstEnergy by 186.4% during the second quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 440 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

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.