Mizuho downgraded shares of FirstEnergy (NYSE:FE) from a buy rating to a neutral rating in a research note released on Friday morning, BenzingaRatingsTable reports. They currently have $48.50 target price on the utilities provider’s stock, up from their previous target price of $48.00.

A number of other analysts have also commented on FE. KeyCorp reissued an overweight rating and issued a $46.00 price objective on shares of FirstEnergy in a research report on Wednesday, June 5th. Zacks Investment Research lowered shares of FirstEnergy from a hold rating to a sell rating and set a $45.00 price objective on the stock. in a research report on Tuesday, July 2nd. Finally, TheStreet lowered shares of FirstEnergy from a b rating to a f rating in a research report on Thursday, July 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. FirstEnergy has a consensus rating of Buy and an average price target of $44.64.

Shares of FE opened at $47.39 on Friday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.53 and a current ratio of 0.60. FirstEnergy has a twelve month low of $35.33 and a twelve month high of $48.27. The firm’s 50 day moving average price is $45.59 and its two-hundred day moving average price is $43.07. The firm has a market cap of $25.98 billion, a P/E ratio of 18.30, a PEG ratio of 3.21 and a beta of 0.21.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.60 by $0.01. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The firm had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.66 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. The business’s revenue was down 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that FirstEnergy will post 2.5 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.21%. The ex-dividend date of this dividend is Wednesday, November 6th. FirstEnergy’s dividend payout ratio is presently 58.69%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Pearl River Capital LLC acquired a new position in FirstEnergy during the second quarter worth $25,000. Clean Yield Group increased its holdings in FirstEnergy by 1,184.0% during the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock worth $27,000 after buying an additional 592 shares during the last quarter. Horan Securities Inc. acquired a new position in FirstEnergy during the second quarter worth $28,000. Meeder Asset Management Inc. increased its holdings in FirstEnergy by 805.3% during the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock worth $29,000 after buying an additional 604 shares during the last quarter. Finally, Zions Bancorporation N.A. acquired a new position in FirstEnergy during the first quarter worth $30,000. Institutional investors and hedge funds own 94.12% of the company’s stock.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Analyst Recommendations for FirstEnergy (NYSE:FE)

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