Traders Buy Shares of FirstEnergy Corporation (FE) on Weakness

Traders bought shares of FirstEnergy Corporation (NYSE:FE) on weakness during trading on Wednesday. $30.01 million flowed into the stock on the tick-up and $10.78 million flowed out of the stock on the tick-down, for a money net flow of $19.23 million into the stock. Of all equities tracked, FirstEnergy Corporation had the 28th highest net in-flow for the day. FirstEnergy Corporation traded down ($0.18) for the day and closed at $31.99

FE has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) cut FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a report on Monday, June 26th. Morgan Stanley increased their target price on FirstEnergy Corporation from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Zacks Investment Research cut FirstEnergy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Wolfe Research raised FirstEnergy Corporation from an “underperform” rating to a “market perform” rating and increased their target price for the company from $30.00 to $32.00 in a report on Monday, June 26th. Finally, ValuEngine cut FirstEnergy Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $34.38.

The firm has a 50-day moving average of $31.64 and a 200 day moving average of $30.68. The firm’s market capitalization is $14.21 billion.

FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. FirstEnergy Corporation’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. Equities research analysts anticipate that FirstEnergy Corporation will post $2.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.36 dividend. The ex-dividend date is Monday, November 6th. This represents a $1.44 annualized dividend and a yield of 4.50%. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Washington Trust Bank raised its holdings in FirstEnergy Corporation by 0.3% in the 2nd quarter. Washington Trust Bank now owns 13,570 shares of the utilities provider’s stock valued at $396,000 after acquiring an additional 36 shares during the last quarter. Sandy Spring Bank raised its holdings in FirstEnergy Corporation by 1.3% in the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 66 shares during the last quarter. Investment Centers of America Inc. raised its holdings in FirstEnergy Corporation by 1.0% in the 1st quarter. Investment Centers of America Inc. now owns 9,202 shares of the utilities provider’s stock valued at $293,000 after acquiring an additional 94 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in FirstEnergy Corporation by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,967 shares of the utilities provider’s stock valued at $961,000 after acquiring an additional 145 shares during the last quarter. Finally, Sentry Investment Management LLC raised its holdings in FirstEnergy Corporation by 0.5% in the 2nd quarter. Sentry Investment Management LLC now owns 35,060 shares of the utilities provider’s stock valued at $1,022,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 80.02% of the company’s stock.

ILLEGAL A

FE has been the subject of a number of research analyst reports. Goldman Sachs Group, Inc. (The) cut FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a report on Monday, June 26th. Morgan Stanley increased their target price on FirstEnergy Corporation from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Friday, September 8th. Zacks Investment Research cut FirstEnergy Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Wolfe Research raised FirstEnergy Corporation from an “underperform” rating to a “market perform” rating and increased their target price for the company from $30.00 to $32.00 in a report on Monday, June 26th. Finally, ValuEngine cut FirstEnergy Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, September 12th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $34.38.

The firm has a 50-day moving average of $31.64 and a 200 day moving average of $30.68. The firm’s market capitalization is $14.21 billion.

FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.61. The company had revenue of $3.30 billion during the quarter, compared to the consensus estimate of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. FirstEnergy Corporation’s revenue was down 3.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.56 EPS. Equities research analysts anticipate that FirstEnergy Corporation will post $2.82 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.36 dividend. The ex-dividend date is Monday, November 6th. This represents a $1.44 annualized dividend and a yield of 4.50%. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Washington Trust Bank raised its holdings in FirstEnergy Corporation by 0.3% in the 2nd quarter. Washington Trust Bank now owns 13,570 shares of the utilities provider’s stock valued at $396,000 after acquiring an additional 36 shares during the last quarter. Sandy Spring Bank raised its holdings in FirstEnergy Corporation by 1.3% in the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after acquiring an additional 66 shares during the last quarter. Investment Centers of America Inc. raised its holdings in FirstEnergy Corporation by 1.0% in the 1st quarter. Investment Centers of America Inc. now owns 9,202 shares of the utilities provider’s stock valued at $293,000 after acquiring an additional 94 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in FirstEnergy Corporation by 0.4% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 32,967 shares of the utilities provider’s stock valued at $961,000 after acquiring an additional 145 shares during the last quarter. Finally, Sentry Investment Management LLC raised its holdings in FirstEnergy Corporation by 0.5% in the 2nd quarter. Sentry Investment Management LLC now owns 35,060 shares of the utilities provider’s stock valued at $1,022,000 after acquiring an additional 185 shares during the last quarter. Institutional investors own 80.02% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “Traders Buy Shares of FirstEnergy Corporation (FE) on Weakness” was reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are accessing this story on another website, it was stolen and reposted in violation of U.S. & international copyright legislation. The legal version of this story can be viewed at https://ledgergazette.com/2017/10/18/traders-buy-shares-of-firstenergy-corporation-fe-on-weakness.html.

About FirstEnergy Corporation

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.

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

Leave a Reply