FirstEnergy (NYSE:FE) Price Target Cut to $40.00

FirstEnergy (NYSE:FE) had its price target cut by equities research analysts at Scotiabank from $41.00 to $40.00 in a report released on Monday, Benzinga reports. The firm currently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price objective would suggest a potential upside of 4.93% from the company’s current price.

Several other equities analysts have also commented on the stock. StockNews.com lowered shares of FirstEnergy from a “hold” rating to a “sell” rating in a research report on Monday, February 12th. The Goldman Sachs Group assumed coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective for the company. Finally, KeyCorp increased their price objective 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 research analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.80.

FirstEnergy Stock Performance

NYSE:FE opened at $38.12 on Monday. FirstEnergy has a 1-year low of $32.18 and a 1-year high of $41.17. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.38. The firm has a 50 day simple moving average of $37.76 and a 200-day simple moving average of $37.07. The firm has a market cap of $21.94 billion, a PE ratio of 21.06 and a beta of 0.48.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. MGO One Seven LLC boosted its stake in FirstEnergy by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 287 shares during the last quarter. Marcum Wealth LLC boosted its stake in FirstEnergy by 3.8% during the 1st quarter. Marcum Wealth LLC now owns 7,973 shares of the utilities provider’s stock valued at $308,000 after acquiring an additional 295 shares during the last quarter. Allworth Financial LP boosted its stake in FirstEnergy by 9.3% during the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 318 shares during the last quarter. B. Riley Wealth Advisors Inc. boosted its stake in FirstEnergy by 1.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock valued at $977,000 after acquiring an additional 339 shares during the last quarter. Finally, Daymark Wealth Partners LLC boosted its stake in FirstEnergy by 0.5% during the 4th quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock valued at $2,641,000 after acquiring an additional 341 shares during the last quarter. 89.41% 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. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.