FirstEnergy (NYSE:FE) was upgraded by research analysts at Mizuho from a “neutral” rating to a “buy” rating in a research report issued on Monday, May 7th.
Other equities research analysts also recently issued research reports about the stock. Wolfe Research upgraded shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a research note on Monday, January 29th. Morgan Stanley increased their price target on shares of FirstEnergy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, April 16th. UBS initiated coverage on shares of FirstEnergy in a report on Friday, February 2nd. They set a “buy” rating and a $39.00 price target for the company. Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, January 15th. Finally, Bank of America raised shares of FirstEnergy from a “neutral” rating to a “buy” rating and increased their target price for the company from $32.09 to $36.00 in a report on Friday, January 26th. Eight analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $35.52.
Shares of FirstEnergy opened at $33.75 on Monday, according to MarketBeat. FirstEnergy has a 52-week low of $33.59 and a 52-week high of $34.08. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.40 and a current ratio of 0.46. The company has a market capitalization of $16.24 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 2.36 and a beta of 0.24.
FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Monday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The company had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $3.36 billion. FirstEnergy had a positive return on equity of 22.52% and a negative net margin of 5.33%. The firm’s revenue was down 18.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.78 EPS. analysts predict that FirstEnergy will post 2.41 earnings per share for the current fiscal year.
Institutional investors have recently added to or reduced their stakes in the stock. OppenheimerFunds Inc. increased its stake in FirstEnergy by 16.7% during the 4th quarter. OppenheimerFunds Inc. now owns 701,790 shares of the utilities provider’s stock worth $21,489,000 after buying an additional 100,303 shares during the period. TIAA FSB increased its position in shares of FirstEnergy by 48.1% in the 4th quarter. TIAA FSB now owns 19,364 shares of the utilities provider’s stock worth $593,000 after purchasing an additional 6,287 shares during the last quarter. Jane Street Group LLC increased its position in shares of FirstEnergy by 23.4% in the 4th quarter. Jane Street Group LLC now owns 30,853 shares of the utilities provider’s stock worth $945,000 after purchasing an additional 5,853 shares during the last quarter. PGGM Investments increased its position in shares of FirstEnergy by 196.2% in the 4th quarter. PGGM Investments now owns 1,234,200 shares of the utilities provider’s stock worth $37,791,000 after purchasing an additional 817,557 shares during the last quarter. Finally, Banco de Sabadell S.A bought a new stake in shares of FirstEnergy in the 4th quarter worth about $4,644,000. 79.49% of the stock is currently owned by hedge funds and other institutional investors.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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