FirstEnergy Corp. (NYSE:FE) – Stock analysts at Jefferies Group issued their Q1 2017 earnings per share estimates for shares of FirstEnergy Corp. in a research report issued to clients and investors on Thursday. Jefferies Group analyst A. Crowdell anticipates that the utilities provider will earn $0.70 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $32.00 target price on the stock.
FirstEnergy Corp. (NYSE:FE) last released its earnings results on Tuesday, February 21st. The utilities provider reported $0.38 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.02. FirstEnergy Corp. had a negative net margin of 4.12% and a positive return on equity of 10.06%. The company earned $3.40 billion during the quarter, compared to the consensus estimate of $3.82 billion. During the same quarter in the previous year, the business posted $0.58 EPS. The firm’s quarterly revenue was down 2.9% on a year-over-year basis. TRADEMARK VIOLATION NOTICE: This piece of content was published by Mideast Time and is owned by of Mideast Time. If you are viewing this piece of content on another site, it was stolen and republished in violation of U.S. and international copyright legislation. The legal version of this piece of content can be viewed at https://www.mideasttime.com/firstenergy-corp-fe-forecasted-to-earn-q1-2017-earnings-of-0-70-per-share/1624481.html.
A number of other equities analysts have also recently issued reports on the stock. Goldman Sachs Group Inc upgraded shares of FirstEnergy Corp. from a “neutral” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Thursday, March 23rd. They noted that the move was a valuation call. Wells Fargo & Co cut shares of FirstEnergy Corp. from an “outperform” rating to a “market perform” rating in a research note on Tuesday, January 10th. Vetr cut shares of FirstEnergy Corp. from a “strong-buy” rating to a “buy” rating and set a $34.37 target price on the stock. in a research note on Monday, December 26th. Mizuho restated a “neutral” rating and set a $31.25 target price on shares of FirstEnergy Corp. in a research note on Wednesday. Finally, Royal Bank of Canada set a $33.00 target price on shares of FirstEnergy Corp. and gave the company a “hold” rating in a research note on Wednesday, January 4th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $34.66.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 30.66 on Friday. The company has a 50 day moving average of $31.37 and a 200 day moving average of $31.44. FirstEnergy Corp. has a 1-year low of $29.33 and a 1-year high of $36.60. The company’s market cap is $13.57 billion.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 1st. Shareholders of record on Friday, May 5th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Wednesday, May 3rd. FirstEnergy Corp.’s dividend payout ratio (DPR) is currently -100.70%.
Large investors have recently made changes to their positions in the stock. Security National Trust Co. raised its stake in shares of FirstEnergy Corp. by 914.0% in the third quarter. Security National Trust Co. now owns 3,042 shares of the utilities provider’s stock worth $101,000 after buying an additional 2,742 shares during the period. Sowell Financial Services LLC bought a new stake in shares of FirstEnergy Corp. during the fourth quarter worth about $105,000. Bessemer Group Inc. raised its stake in shares of FirstEnergy Corp. by 170.5% in the fourth quarter. Bessemer Group Inc. now owns 4,393 shares of the utilities provider’s stock worth $135,000 after buying an additional 2,769 shares during the period. Ancora Advisors LLC bought a new stake in shares of FirstEnergy Corp. during the fourth quarter worth about $158,000. Finally, Ledyard National Bank bought a new stake in shares of FirstEnergy Corp. during the first quarter worth about $174,000. 74.16% of the stock is owned by institutional investors and hedge funds.
About FirstEnergy Corp.
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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