JPMorgan Chase & Co. Increases FirstEnergy (NYSE:FE) Price Target to $46.00

FirstEnergy (NYSE:FE) had its target price upped by JPMorgan Chase & Co. from $45.00 to $46.00 in a research report released on Friday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the utilities provider’s stock.

Several other brokerages have also recently weighed in on FE. Argus upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, September 20th. Morgan Stanley raised their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company upped their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Scotiabank lifted their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, KeyCorp boosted their target price on FirstEnergy from $46.00 to $47.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat, FirstEnergy has an average rating of “Hold” and a consensus price target of $45.91.

FirstEnergy Trading Up 0.4 %

NYSE:FE opened at $43.65 on Friday. 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 one year low of $34.73 and a one year high of $44.97. The company has a market cap of $25.14 billion, a PE ratio of 30.96, a PEG ratio of 2.27 and a beta of 0.50. The firm has a 50-day moving average of $43.53 and a 200-day moving average of $40.72.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The firm had revenue of $3.28 billion during the quarter, compared to analyst estimates of $3.47 billion. During the same period in the previous year, the company posted $0.47 EPS. As a group, equities research analysts expect that FirstEnergy will post 2.7 EPS for the current fiscal year.

FirstEnergy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 3.89%. FirstEnergy’s dividend payout ratio is presently 120.57%.

Institutional Investors Weigh In On FirstEnergy

Large investors have recently added to or reduced their stakes in the company. FinTrust Capital Advisors LLC boosted its position in FirstEnergy by 1,150.9% during the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 610 shares during the period. ST Germain D J Co. Inc. lifted its stake in shares of FirstEnergy by 1,138.9% during the 2nd 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 in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in FirstEnergy in the 2nd quarter worth approximately $32,000. Western Pacific Wealth Management LP purchased a new position in FirstEnergy in the 1st quarter valued at approximately $36,000. Finally, West Oak Capital LLC bought a new stake in FirstEnergy during the 2nd quarter valued at $38,000. 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.