FirstEnergy (NYSE:FE) PT Raised to $46.00 at JPMorgan Chase & Co.

FirstEnergy (NYSE:FE) had its price target upped by analysts at JPMorgan Chase & Co. from $45.00 to $46.00 in a report issued on Friday, Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 5.24% from the stock’s current price.

FE has been the subject of several other reports. Barclays upped their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a research note on Monday, October 7th. Jefferies Financial Group initiated coverage on FirstEnergy in a research note on Monday. They set a “hold” rating and a $46.00 target price for the company. Morgan Stanley lifted their target price on FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Scotiabank increased their price target on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Finally, Bank of America lifted their price objective on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $45.91.

FirstEnergy Stock Up 0.5 %

Shares of NYSE:FE traded up $0.22 during midday trading on Friday, hitting $43.71. 571,110 shares of the company’s stock traded hands, compared to its average volume of 2,927,782. The firm’s fifty day moving average price is $43.50 and its two-hundred day moving average price is $40.69. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.43 and a current ratio of 0.51. FirstEnergy has a twelve month low of $34.73 and a twelve month high of $44.97. The company has a market cap of $25.16 billion, a PE ratio of 25.11, a P/E/G ratio of 2.24 and a beta of 0.50.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, hitting analysts’ consensus estimates of $0.56. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, equities research analysts anticipate that FirstEnergy will post 2.7 EPS for the current fiscal year.

Hedge Funds Weigh In On FirstEnergy

Several large investors have recently added to or reduced their stakes in FE. Sachetta LLC increased its stake in FirstEnergy by 36.0% during the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 246 shares during the last quarter. Commonwealth Financial Services LLC boosted its holdings in shares of FirstEnergy by 4.4% in the 2nd quarter. Commonwealth Financial Services LLC now owns 5,869 shares of the utilities provider’s stock valued at $226,000 after buying an additional 249 shares during the period. Balanced Wealth Group LLC grew its position in shares of FirstEnergy by 1.0% during the 2nd quarter. Balanced Wealth Group LLC now owns 26,500 shares of the utilities provider’s stock valued at $1,015,000 after buying an additional 264 shares during the last quarter. Richardson Financial Services Inc. raised its stake in FirstEnergy by 6.2% during the first quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider’s stock worth $193,000 after acquiring an additional 290 shares during the period. Finally, Greenleaf Trust lifted its holdings in FirstEnergy by 3.1% in the first quarter. Greenleaf Trust now owns 9,736 shares of the utilities provider’s stock worth $376,000 after acquiring an additional 295 shares during the last quarter. 89.41% of the stock is currently owned by 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.