FirstEnergy (NYSE:FE) Price Target Raised to $35.00

FirstEnergy (NYSE:FE) had its price target boosted by stock analysts at Bank of America from $30.00 to $35.00 in a research note issued on Tuesday, Benzinga reports. The brokerage currently has an “underperform” rating on the utilities provider’s stock. Bank of America‘s price objective indicates a potential downside of 8.81% from the company’s previous close.

Several other equities analysts have also commented on FE. The Goldman Sachs Group began coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price target for the company. Scotiabank dropped their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Monday. StockNews.com lowered shares of FirstEnergy from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. Finally, KeyCorp upped their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $39.80.

FirstEnergy Trading Up 0.4 %

Shares of NYSE FE traded up $0.17 during midday trading on Tuesday, reaching $38.38. 624,231 shares of the stock were exchanged, compared to its average volume of 3,341,414. The company has a market capitalization of $22.09 billion, a P/E ratio of 21.20 and a beta of 0.48. FirstEnergy has a 52-week low of $32.18 and a 52-week high of $41.17. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10. The stock has a 50 day moving average price of $37.74 and a 200-day moving average price of $37.05.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.50 earnings per share. Equities research analysts expect that FirstEnergy will post 2.67 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FirstEnergy

Institutional investors have recently bought and sold shares of the business. Capital World Investors boosted its stake in shares of FirstEnergy by 38.2% in the fourth quarter. Capital World Investors now owns 68,155,129 shares of the utilities provider’s stock valued at $2,498,567,000 after purchasing an additional 18,853,983 shares during the period. FMR LLC boosted its stake in shares of FirstEnergy by 31.1% in the third quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock valued at $540,996,000 after purchasing an additional 3,756,228 shares during the period. Invesco Ltd. boosted its stake in shares of FirstEnergy by 3.1% in the third quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock valued at $463,950,000 after purchasing an additional 407,350 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of FirstEnergy by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,930,826 shares of the utilities provider’s stock valued at $344,908,000 after purchasing an additional 82,482 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of FirstEnergy by 1.7% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,543,375 shares of the utilities provider’s stock valued at $189,473,000 after purchasing an additional 92,561 shares during the period. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

About FirstEnergy

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.