FirstEnergy (NYSE:FE - Get Free Report) had its target price raised by stock analysts at Wells Fargo & Company from $41.00 to $44.00 in a report issued on Friday,Benzinga reports. The brokerage currently has an "equal weight" rating on the utilities provider's stock. Wells Fargo & Company's target price points to a potential upside of 2.90% from the stock's previous close.
A number of other research firms have also recently weighed in on FE. Wolfe Research cut shares of FirstEnergy from an "outperform" rating to a "peer perform" rating in a research report on Thursday, January 23rd. Bank of America raised shares of FirstEnergy from an "underperform" rating to a "neutral" rating and upped their price objective for the company from $42.00 to $45.00 in a research report on Wednesday, April 23rd. Morgan Stanley reissued an "overweight" rating on shares of FirstEnergy in a research report on Wednesday, April 23rd. Guggenheim upped their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "buy" rating in a research report on Monday, April 7th. Finally, UBS Group upped their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the company a "neutral" rating in a research report on Friday, March 21st. Ten research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $45.85.
Check Out Our Latest Analysis on FirstEnergy
FirstEnergy Trading Up 1.0 %
Shares of FE stock traded up $0.42 on Friday, reaching $42.76. 5,095,835 shares of the stock were exchanged, compared to its average volume of 3,558,654. The stock has a market cap of $24.66 billion, a P/E ratio of 27.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.41. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The firm has a 50 day moving average of $40.24 and a two-hundred day moving average of $40.67. FirstEnergy has a 1-year low of $37.58 and a 1-year high of $44.97.
FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The firm had revenue of $3.80 billion during the quarter, compared to the consensus estimate of $3.68 billion. During the same period in the prior year, the firm earned $0.55 EPS. The firm's quarterly revenue was up 14.5% compared to the same quarter last year. On average, research analysts anticipate that FirstEnergy will post 2.66 EPS for the current year.
Hedge Funds Weigh In On FirstEnergy
A number of large investors have recently bought and sold shares of FE. Wilmington Savings Fund Society FSB lifted its holdings in FirstEnergy by 361.9% in the third quarter. Wilmington Savings Fund Society FSB now owns 24,834 shares of the utilities provider's stock worth $1,101,000 after acquiring an additional 19,457 shares during the last quarter. Franklin Resources Inc. grew its holdings in FirstEnergy by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider's stock worth $153,081,000 after buying an additional 34,151 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in FirstEnergy by 15.5% in the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 33,532 shares of the utilities provider's stock valued at $1,479,000 after acquiring an additional 4,503 shares during the period. Principal Financial Group Inc. raised its stake in FirstEnergy by 5.2% during the 3rd quarter. Principal Financial Group Inc. now owns 617,768 shares of the utilities provider's stock valued at $27,398,000 after acquiring an additional 30,769 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in FirstEnergy by 6.2% during the 4th quarter. GAMMA Investing LLC now owns 10,897 shares of the utilities provider's stock worth $433,000 after acquiring an additional 634 shares during the period. Institutional investors own 89.41% of the company's stock.
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.
Further Reading
Before you consider FirstEnergy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FirstEnergy wasn't on the list.
While FirstEnergy currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
