FirstEnergy (NYSE:FE) PT Raised to $40.00

FirstEnergy (NYSE:FE) had its target price hoisted by equities researchers at Barclays from $39.00 to $40.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Barclays‘s price objective indicates a potential upside of 2.77% from the company’s previous close.

Other research analysts have also recently issued reports about the stock. Mizuho increased their price target on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price on the stock. Scotiabank lowered their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Finally, Morgan Stanley lowered their target price on FirstEnergy from $46.00 to $44.00 and set an “overweight” rating for the company in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $40.55.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $38.92 on Tuesday. The company’s fifty day moving average price is $39.06 and its 200-day moving average price is $38.07. The company has a debt-to-equity ratio of 1.59, a current ratio of 0.65 and a quick ratio of 0.56. The firm has a market capitalization of $22.40 billion, a price-to-earnings ratio of 22.37, a PEG ratio of 2.44 and a beta of 0.49. FirstEnergy has a one year low of $32.18 and a one year high of $40.65.

FirstEnergy (NYSE:FE) last released its earnings results on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The business had revenue of $3.29 billion for the quarter, compared to analysts’ expectations of $3.36 billion. On average, equities research analysts anticipate that FirstEnergy will post 2.69 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FirstEnergy

Several institutional investors and hedge funds have recently bought and sold shares of FE. FinTrust Capital Advisors LLC raised its stake in FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after buying an additional 610 shares in the last quarter. ST Germain D J Co. Inc. raised its position in shares of FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 615 shares in the last quarter. Sachetta LLC purchased a new position in shares of FirstEnergy in the 4th quarter valued at approximately $25,000. Sugarloaf Wealth Management LLC bought a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $29,000. Finally, Scarborough Advisors LLC purchased a new stake in FirstEnergy in the fourth quarter worth $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.