FirstEnergy (NYSE:FE - Get Free Report) was upgraded by research analysts at Bank of America from an "underperform" rating to a "neutral" rating in a research report issued on Wednesday,Briefing.com Automated Import reports. The brokerage presently has a $45.00 price target on the utilities provider's stock. Bank of America's target price indicates a potential upside of 5.35% from the stock's previous close.
A number of other equities analysts have also recently commented on FE. Wolfe Research cut shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a research note on Thursday, January 23rd. Guggenheim upped their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Wells Fargo & Company lowered their price target on FirstEnergy from $48.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Friday, February 28th. Morgan Stanley cut their price objective on FirstEnergy from $52.00 to $48.00 and set an "overweight" rating for the company in a report on Thursday, March 20th. Finally, Scotiabank reduced their price objective on FirstEnergy from $50.00 to $44.00 and set a "sector outperform" rating on the stock in a research report on Friday, February 28th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy presently has an average rating of "Hold" and an average price target of $45.33.
Read Our Latest Research Report on FirstEnergy
FirstEnergy Stock Up 2.2 %
Shares of NYSE:FE opened at $42.72 on Wednesday. The company has a market cap of $24.63 billion, a price-to-earnings ratio of 27.56, a PEG ratio of 2.07 and a beta of 0.41. FirstEnergy has a one year low of $37.58 and a one year high of $44.97. The firm has a fifty day moving average price of $40.07 and a two-hundred day moving average price of $40.69. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.
FirstEnergy (NYSE:FE - Get Free Report) last announced its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts' consensus estimates of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. Analysts anticipate that FirstEnergy will post 2.66 EPS for the current fiscal year.
Institutional Investors Weigh In On FirstEnergy
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. grew its holdings in FirstEnergy by 9.0% in the 1st quarter. Oppenheimer & Co. Inc. now owns 17,759 shares of the utilities provider's stock worth $718,000 after acquiring an additional 1,464 shares during the last quarter. Longboard Asset Management LP purchased a new stake in shares of FirstEnergy during the first quarter worth about $201,000. Cambridge Investment Research Advisors Inc. grew its stake in shares of FirstEnergy by 14.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 71,333 shares of the utilities provider's stock worth $2,883,000 after purchasing an additional 8,879 shares during the last quarter. Kentucky Retirement Systems Insurance Trust Fund grew its stake in shares of FirstEnergy by 13.0% in the first quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,741 shares of the utilities provider's stock worth $677,000 after purchasing an additional 1,930 shares during the last quarter. Finally, Kentucky Retirement Systems increased its holdings in FirstEnergy by 11.6% during the 1st quarter. Kentucky Retirement Systems now owns 39,305 shares of the utilities provider's stock valued at $1,589,000 after purchasing an additional 4,082 shares during the period. 89.41% of the stock is currently owned by institutional investors.
FirstEnergy Company Profile
(
Get Free Report)
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.
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