Scotiabank Increases FirstEnergy (NYSE:FE) Price Target to $45.00

FirstEnergy (NYSE:FE) had its target price upped by equities research analysts at Scotiabank from $40.00 to $45.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage presently has a “sector perform” rating on the utilities provider’s stock. Scotiabank’s price target points to a potential upside of 4.65% from the stock’s current price.

FE has been the topic of several other reports. Wells Fargo & Company lifted their price target on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. KeyCorp lifted their price target on shares of FirstEnergy from $43.00 to $45.00 and gave the company an “overweight” rating in a research report on Wednesday, August 14th. Morgan Stanley cut their price objective on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. lifted their target price on shares of FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Mizuho upped their price target on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Monday, June 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, FirstEnergy has an average rating of “Hold” and a consensus price target of $42.18.

FirstEnergy Trading Up 0.3 %

NYSE:FE traded up $0.14 during trading hours on Tuesday, hitting $43.00. The company had a trading volume of 137,478 shares, compared to its average volume of 2,967,504. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. FirstEnergy has a 52 week low of $32.18 and a 52 week high of $43.65. The company has a market capitalization of $24.76 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 2.34 and a beta of 0.49. The stock has a 50-day moving average price of $39.96 and a 200 day moving average price of $38.85.

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

Institutional Trading of FirstEnergy

A number of large investors have recently made changes to their positions in FE. Sachetta LLC grew its holdings in shares of FirstEnergy by 36.0% in the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 246 shares during the period. Commonwealth Financial Services LLC lifted its stake 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 worth $226,000 after purchasing an additional 249 shares during the period. Balanced Wealth Group LLC boosted its holdings in shares of FirstEnergy by 1.0% in the second quarter. Balanced Wealth Group LLC now owns 26,500 shares of the utilities provider’s stock worth $1,015,000 after buying an additional 264 shares during the last quarter. Richardson Financial Services Inc. grew its position in FirstEnergy by 6.2% during the first quarter. Richardson Financial Services Inc. now owns 4,995 shares of the utilities provider’s stock valued at $193,000 after buying an additional 290 shares during the period. Finally, Marcum Wealth LLC increased its holdings in FirstEnergy by 3.8% during the first quarter. Marcum Wealth LLC now owns 7,973 shares of the utilities provider’s stock valued at $308,000 after buying an additional 295 shares during the last quarter. 89.41% of the stock is currently owned by 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.