FirstEnergy Corporation (NYSE:FE) received a $34.00 price objective from equities researchers at J P Morgan Chase & Co in a note issued to investors on Thursday. The brokerage presently has a “hold” rating on the utilities provider’s stock. J P Morgan Chase & Co’s price objective suggests a potential upside of 6.82% from the stock’s previous close.
Other research analysts have also recently issued research reports about the company. Morgan Stanley set a $38.00 price target on FirstEnergy Corporation and gave the company a “buy” rating in a research report on Tuesday, July 4th. ValuEngine upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research report on Monday, August 7th. Zacks Investment Research upgraded FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a research report on Monday, September 11th. Tudor Pickering upgraded FirstEnergy Corporation from a “trim” rating to a “hold” rating in a research report on Friday, July 14th. Finally, Jefferies Group LLC restated a “hold” rating and issued a $33.00 price target (up previously from $31.00) on shares of FirstEnergy Corporation in a research report on Monday, July 31st. Thirteen research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. FirstEnergy Corporation presently has a consensus rating of “Hold” and an average target price of $34.16.
Shares of FirstEnergy Corporation (FE) traded up 1.63% during midday trading on Thursday, reaching $32.35. 2,031,408 shares of the company’s stock traded hands. The stock’s 50 day moving average is $31.69 and its 200-day moving average is $30.67. FirstEnergy Corporation has a 52 week low of $27.93 and a 52 week high of $34.83. The company’s market capitalization is $14.37 billion.
FirstEnergy Corporation (NYSE:FE) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.61. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. The business had revenue of $3.30 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter last year, the business posted $0.56 earnings per share. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. On average, analysts forecast that FirstEnergy Corporation will post $2.82 earnings per share for the current fiscal year.
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Institutional investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC boosted its stake in FirstEnergy Corporation by 22.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,633 shares of the utilities provider’s stock worth $106,000 after buying an additional 658 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new stake in FirstEnergy Corporation in the 1st quarter worth about $139,000. Sandy Spring Bank boosted its stake in FirstEnergy Corporation by 1.3% in the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock worth $150,000 after buying an additional 66 shares during the last quarter. City Holding Co. boosted its stake in FirstEnergy Corporation by 8.2% in the 2nd quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock worth $153,000 after buying an additional 400 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in FirstEnergy Corporation in the 2nd quarter worth about $215,000. Hedge funds and other institutional investors own 79.97% of the company’s stock.
FirstEnergy Corporation Company Profile
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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