FirstEnergy (NYSE:FE) PT Lowered to $44.00 at Morgan Stanley

FirstEnergy (NYSE:FE) had its price objective reduced by stock analysts at Morgan Stanley from $46.00 to $44.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s price objective indicates a potential upside of 13.61% from the stock’s current price.

Several other research analysts also recently issued reports on the company. Bank of America upped their price objective on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday, April 23rd. StockNews.com raised FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Scotiabank lowered their price objective on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Mizuho upped their target price on FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. Finally, The Goldman Sachs Group started coverage on FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price on the stock. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, FirstEnergy currently has an average rating of “Hold” and a consensus target price of $40.09.

FirstEnergy Price Performance

FE stock traded up $0.46 during midday trading on Monday, reaching $38.73. The company had a trading volume of 295,347 shares, compared to its average volume of 3,038,346. The company has a market capitalization of $22.29 billion, a price-to-earnings ratio of 22.17, a price-to-earnings-growth ratio of 2.42 and a beta of 0.50. The stock has a 50 day moving average price of $38.95 and a 200-day moving average price of $37.94. FirstEnergy has a 1-year low of $32.18 and a 1-year 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.

FirstEnergy (NYSE:FE) last posted its quarterly 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. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.36 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. Equities research analysts expect that FirstEnergy will post 2.69 earnings per share for the current year.

Institutional Investors Weigh In On FirstEnergy

Large investors have recently made changes to their positions in the business. FinTrust Capital Advisors LLC grew its stake in shares of FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 610 shares during the period. Sachetta LLC bought a new position in shares of FirstEnergy during the 4th quarter worth $25,000. Sugarloaf Wealth Management LLC bought a new position in shares of FirstEnergy during the 4th quarter worth $29,000. Scarborough Advisors LLC bought a new position in shares of FirstEnergy during the 4th quarter worth $31,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of FirstEnergy during the 1st quarter worth $36,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Company Profile

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.