FirstEnergy Corporation (NYSE:FE):
FirstEnergy Launches Grid Modernization Program in Pennsylvania.
The company is now up from yesterday’s close of $29.28.
Additionally the company declared a dividend for shareholders paid on Thursday the 1st of June 2017. The dividend was $0.360 per share for the quarter or $1.44 on an annualized basis. This dividend amount represented a yeild of $4.92. The ex-dividend date was set for Wednesday the 3rd of May 2017.
FirstEnergy Corp., launched on September 17, 1996, is a holding company. The Company is involved in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries, which include Ohio Edison Company (OE), The Cleveland Electric Illuminating Company (CEI), The Toledo Edison Company (TE), Pennsylvania Power Company (Penn), Jersey Central Power & Light Company (JCP&L), Metropolitan Edison Company (ME), Pennsylvania Electric Company (PN), FirstEnergy Service Company (FESC), FirstEnergy Solutions Corp. (FES) and its principal subsidiaries (FirstEnergy Generation, LLC (FG) and FirstEnergy Nuclear Generation, LLC (NG)), Allegheny Energy Supply Company, LLC (AE Supply), Monongahela Power Company (MP), The Potomac Edison Company (PE), West Penn Power Company (WP), FirstEnergy Transmission, LLC (FET) and its principal subsidiaries (American Transmission Systems, Incorporated (ATSI) and Trans-Allegheny Interstate Line Company (TrAIL)), and Allegheny Energy Service Corporation (AESC). The Business’s segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other..
Shares last traded at $29.74 which is marginally over the 50 day moving average of $29.12 and a bit lower than the 200 day moving average of $30.38. The 50 day moving average was up by +2.23% and the 200 day average went down by -2.02%.
As of the latest earnings report the EPS was $-14.63 and is estimated to be $2.80 for the current year with 443,740,000 shares presently outstanding. Next quarter’s EPS is forecasted to be $0.95 with next year’s EPS anticipated to be $2.51.
Brokerages have released opinions on the company recently. On December 2 the stock rating was downgraded to “Equal-Weight” from “Overweight” by Barclays. On October 25 the company was rated “Buy” in a report from Deutsche Bank a boost from the previous “Hold” rating.
On October 18 the company was upgraded from “” to “Neutral” and a price target of $33.00 was set in an announcement from Evercore ISI Group. On October 18 the stock rating was upgraded to “Neutral” from “Sell” with a current price target of $33.00 in a statement from Citigroup.
Equity analyst Citigroup raised the price target and upgraded the stock on October 18 changing the price target from $31.00 to $33.00 and altering the rating from “Sell” to “Neutral”. On October 13, 2016 the stock rating was set at “Overweight” according to a Barclays report which is up from the previous “Equal-weight” rating.