FirstEnergy Corp. (NYSE:FE) Receives Average Recommendation of “Hold” from Brokerages

FirstEnergy Corp. (NYSE:FE) has received a consensus recommendation of “Hold” from the ten research firms that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $40.27.

A number of equities analysts recently commented on FE shares. Morgan Stanley increased their price objective on FirstEnergy from $42.00 to $46.00 and gave the stock an “overweight” rating in a report on Tuesday, May 28th. Bank of America increased their price objective on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a report on Tuesday, April 23rd. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. The Goldman Sachs Group assumed coverage on FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Mizuho upped their target price on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd.

Institutional Investors Weigh In On FirstEnergy

Hedge funds have recently modified their holdings of the business. FinTrust Capital Advisors LLC boosted its position in shares of FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 610 shares during the period. Sachetta LLC bought a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $25,000. Sugarloaf Wealth Management LLC bought a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $29,000. Scarborough Advisors LLC bought a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $31,000. Finally, Western Pacific Wealth Management LP bought a new stake in shares of FirstEnergy in the first quarter valued at approximately $36,000. 89.41% of the stock is owned by institutional investors.

FirstEnergy Price Performance

Shares of FE opened at $38.27 on Friday. The company has a market capitalization of $22.03 billion, a price-to-earnings ratio of 21.99, a P/E/G ratio of 2.42 and a beta of 0.50. FirstEnergy has a fifty-two week low of $32.18 and a fifty-two week high of $40.65. 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 business’s 50-day moving average is $38.95 and its 200-day moving average is $37.94.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, topping 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 firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.36 billion. Equities research analysts expect that FirstEnergy will post 2.69 EPS for the current fiscal year.

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.