Wall Street analysts have largely turned more positive on FirstEnergy (FE) over the past 12 months. Of the total 17 analysts currently tracking FE, four recommend it as a “strong buy,” nine recommend it as a “buy,” and four recommend it as a “hold.”
Analysts have given FirstEnergy stock a mean price target of $45.8 against its current market price of $40.7, which indicates a potential upside of 12.4% for the next 12 months.
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FirstEnergy stock offers a dividend yield of 3.7%, higher than utilities’ average of 3%. The stock looks like an attractive bet given the estimated upside and its premium dividend yield.
Peer PPL Corporation (PPL) offers a potential upside of ~4% based on analysts’ mean target price of $32.1. It is currently trading at $30.9. PPL is trading at a dividend yield of 5.4%, the highest among utilities. The company plans to release its first-quarter earnings on May 2.
The biggest utility by market cap, NextEra Energy (NEE) released its quarterly earnings yesterday. NextEra Energy’s earnings rose 12% YoY. To learn more, read NextEra Energy Continues Its Earnings Growth Streak in Q1.