KeyCorp Increases FirstEnergy (NYSE:FE) Price Target to $46.00

FirstEnergy (NYSE:FE) had its target price lifted by equities research analysts at KeyCorp from $45.00 to $46.00 in a research report issued on Monday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective points to a potential upside of 3.44% from the stock’s current price.

Several other brokerages also recently issued reports on FE. Mizuho increased their price target on FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. JPMorgan Chase & Co. raised their target price on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Barclays raised their target price on FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Morgan Stanley raised their target price on FirstEnergy from $45.00 to $48.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Wells Fargo & Company raised their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.60.

FirstEnergy Trading Up 0.9 %

Shares of FE opened at $44.47 on Monday. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $25.59 billion, a P/E ratio of 25.56, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The stock’s fifty day simple moving average is $42.03 and its 200 day simple moving average is $39.78. FirstEnergy has a twelve month low of $32.18 and a twelve month high of $44.97.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The firm had revenue of $3.28 billion during the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the prior year, the firm earned $0.47 EPS. On average, equities research analysts forecast that FirstEnergy will post 2.7 earnings per share for the current year.

Hedge Funds Weigh In On FirstEnergy

A number of large investors have recently bought and sold shares of the business. Sanctuary Advisors LLC bought a new stake in shares of FirstEnergy during the second quarter valued at approximately $832,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of FirstEnergy during the second quarter valued at approximately $32,000. Point72 Asset Management L.P. bought a new stake in shares of FirstEnergy during the second quarter valued at approximately $14,933,000. B. Riley Wealth Advisors Inc. raised its holdings in shares of FirstEnergy by 1.6% during the second quarter. B. Riley Wealth Advisors Inc. now owns 29,029 shares of the utilities provider’s stock valued at $1,111,000 after buying an additional 454 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of FirstEnergy by 40.0% during the second quarter. NewEdge Advisors LLC now owns 61,278 shares of the utilities provider’s stock valued at $2,345,000 after buying an additional 17,497 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Company Profile

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