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

FirstEnergy (NYSE:FE) had its target price increased by stock analysts at Evercore ISI from $41.00 to $47.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Evercore ISI’s price objective indicates a potential upside of 11.63% from the stock’s previous close.

FE has been the subject of several other research reports. Guggenheim increased their price objective on FirstEnergy from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Monday, April 7th. Bank of America raised FirstEnergy from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $42.00 to $45.00 in a research note on Wednesday, April 23rd. Scotiabank reissued an “outperform” rating on shares of FirstEnergy in a research report on Friday. UBS Group lifted their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a research note on Friday, March 21st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a research report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $45.85.

FirstEnergy Trading Down 0.6 %

FE stock traded down $0.24 during midday trading on Monday, hitting $42.10. The company had a trading volume of 277,043 shares, compared to its average volume of 5,394,688. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy has a 52 week low of $37.58 and a 52 week high of $44.97. The stock has a market cap of $24.28 billion, a price-to-earnings ratio of 27.16, a PEG ratio of 2.07 and a beta of 0.41. The stock’s 50 day moving average price is $40.20 and its 200 day moving average price is $40.67.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. As a group, equities research analysts expect that FirstEnergy will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FirstEnergy

Several institutional investors have recently modified their holdings of FE. Rossby Financial LCC bought a new position in FirstEnergy during the 1st quarter valued at about $86,000. DAVENPORT & Co LLC purchased a new position in shares of FirstEnergy during the first quarter valued at approximately $1,453,000. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in FirstEnergy by 18.0% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 66,831 shares of the utilities provider’s stock valued at $2,701,000 after purchasing an additional 10,218 shares during the period. Vontobel Holding Ltd. boosted its holdings in FirstEnergy by 29.7% in the first quarter. Vontobel Holding Ltd. now owns 7,684 shares of the utilities provider’s stock worth $311,000 after purchasing an additional 1,760 shares during the last quarter. Finally, Mather Group LLC. grew its position in FirstEnergy by 14.4% in the 1st quarter. Mather Group LLC. now owns 3,631 shares of the utilities provider’s stock worth $147,000 after purchasing an additional 456 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

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.