FirstEnergy (NYSE:FE) PT Raised to $35.00 at Bank of America

FirstEnergy (NYSE:FE) had its target price boosted by stock analysts at Bank of America from $30.00 to $35.00 in a research report issued on Tuesday, Benzinga reports. The firm currently has an “underperform” rating on the utilities provider’s stock. Bank of America‘s target price points to a potential downside of 8.62% from the stock’s previous close.

A number of other brokerages have also recently commented on FE. The Goldman Sachs Group began coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price on the stock. StockNews.com cut shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Scotiabank cut their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a report on Monday. Finally, KeyCorp lifted their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $39.80.

FirstEnergy Stock Up 0.5 %

Shares of NYSE:FE opened at $38.30 on Tuesday. The company has a market capitalization of $22.04 billion, a PE ratio of 21.16 and a beta of 0.48. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10. FirstEnergy has a twelve month low of $32.18 and a twelve month high of $41.17. The firm has a 50 day simple moving average of $37.79 and a 200-day simple moving average of $37.08.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. On average, equities analysts predict that FirstEnergy will post 2.66 EPS for the current fiscal year.

Hedge Funds Weigh In On FirstEnergy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sachetta LLC acquired a new stake in FirstEnergy in the 4th quarter valued at about $25,000. Sugarloaf Wealth Management LLC acquired a new stake in FirstEnergy in the 4th quarter valued at about $29,000. Scarborough Advisors LLC acquired a new stake in FirstEnergy in the 4th quarter valued at about $31,000. Blue Trust Inc. grew its stake in FirstEnergy by 327.3% in the 4th quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 792 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. acquired a new stake in FirstEnergy in the 4th quarter valued at about $40,000. 89.41% of the stock is owned by institutional investors and hedge funds.

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.