FirstEnergy (NYSE:FE) PT Raised to $35.00 at Bank of America

FirstEnergy (NYSE:FE) had its price target boosted by stock analysts at Bank of America from $30.00 to $35.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has an “underperform” rating on the utilities provider’s stock. Bank of America‘s price objective indicates a potential downside of 8.62% from the stock’s previous close.

Several other research firms also recently weighed in on FE. StockNews.com downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Scotiabank dropped their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research report on Monday. The Goldman Sachs Group began coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target on the stock. Finally, KeyCorp boosted their price target 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 given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $39.80.

FirstEnergy Stock Performance

Shares of FE opened at $38.30 on Tuesday. FirstEnergy has a 1 year low of $32.18 and a 1 year high of $41.17. The company has a market cap of $22.04 billion, a price-to-earnings ratio of 21.16 and a beta of 0.48. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48. The firm has a fifty day moving average of $37.79 and a 200-day moving average of $37.08.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company’s quarterly revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.50 earnings per share. As a group, equities analysts anticipate that FirstEnergy will post 2.66 earnings per share for the current year.

Institutional Trading of FirstEnergy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Cambridge Investment Research Advisors Inc. lifted its position in shares of FirstEnergy by 1.5% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 55,034 shares of the utilities provider’s stock worth $2,125,000 after purchasing an additional 800 shares in the last quarter. Verity & Verity LLC purchased a new stake in shares of FirstEnergy in the first quarter worth approximately $98,000. V Square Quantitative Management LLC increased its stake in FirstEnergy by 38.6% in the 1st quarter. V Square Quantitative Management LLC now owns 7,586 shares of the utilities provider’s stock valued at $293,000 after buying an additional 2,114 shares during the period. Simplicity Wealth LLC purchased a new stake in FirstEnergy in the 1st quarter worth approximately $356,000. Finally, Spire Wealth Management lifted its position in FirstEnergy by 12.3% in the 1st quarter. Spire Wealth Management now owns 3,622 shares of the utilities provider’s stock worth $140,000 after buying an additional 397 shares in the last quarter. Institutional investors and hedge funds 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.