FirstEnergy (NYSE:FE) Price Target Raised to $47.00

FirstEnergy (NYSE:FE) had its price target raised by equities research analysts at Guggenheim from $45.00 to $47.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s target price suggests a potential upside of 20.94% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Morgan Stanley reduced their price target on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a research report on Thursday, March 20th. UBS Group raised their price objective on FirstEnergy from $41.00 to $43.00 and gave the stock a “neutral” rating in a report on Friday, March 21st. Scotiabank reduced their target price on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a report on Friday, February 28th. Finally, Wells Fargo & Company dropped their price target on FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $45.15.

FirstEnergy Stock Down 1.3 %

FirstEnergy stock traded down $0.51 during midday trading on Monday, reaching $38.86. The company’s stock had a trading volume of 2,220,671 shares, compared to its average volume of 3,337,992. The company has a market cap of $22.41 billion, a P/E ratio of 25.10, a P/E/G 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 business has a 50-day simple moving average of $39.97 and a 200-day simple moving average of $40.98. FirstEnergy has a fifty-two week low of $36.81 and a fifty-two week high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share for the quarter, missing the consensus estimate of $0.70 by ($0.03). The business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. On average, research analysts expect that FirstEnergy will post 2.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FirstEnergy

Large investors have recently bought and sold shares of the company. Covestor Ltd boosted its holdings in shares of FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 255 shares in the last quarter. Kestra Investment Management LLC acquired a new stake in FirstEnergy in the fourth quarter valued at about $26,000. Lee Danner & Bass Inc. purchased a new stake in FirstEnergy in the 4th quarter valued at approximately $26,000. WASHINGTON TRUST Co increased its position in FirstEnergy by 293.0% during the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares during the period. Finally, Bernard Wealth Management Corp. purchased a new position in shares of FirstEnergy during the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

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.