FirstEnergy (NYSE:FE) PT Lowered to $48.00

FirstEnergy (NYSE:FE) had its target price decreased by Morgan Stanley from $49.00 to $48.00 in a research note issued on Friday, Stock Target Advisor reports. The brokerage presently has an “equal weight” rating on the utilities provider’s stock. Morgan Stanley’s target price points to a potential upside of 3.03% from the stock’s previous close.

FE has been the topic of several other research reports. Mizuho downgraded FirstEnergy from a “buy” rating to a “neutral” rating and upped their price objective for the company from $48.00 to $48.50 in a research note on Friday, September 20th. TheStreet downgraded FirstEnergy from a “b” rating to a “f” rating in a research report on Thursday, July 18th. KeyCorp increased their target price on FirstEnergy from $51.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America downgraded FirstEnergy from a “buy” rating to a “neutral” rating in a research report on Thursday, October 24th. They noted that the move was a valuation call. Finally, ValuEngine downgraded FirstEnergy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.36.

FirstEnergy stock traded down $0.13 during trading on Friday, hitting $46.59. The stock had a trading volume of 4,143,624 shares, compared to its average volume of 4,246,722. FirstEnergy has a 1 year low of $35.33 and a 1 year high of $49.07. The company has a quick ratio of 0.53, a current ratio of 0.62 and a debt-to-equity ratio of 2.67. The stock’s 50 day moving average is $47.93 and its two-hundred day moving average is $44.75. The stock has a market cap of $25.23 billion, a price-to-earnings ratio of 17.99, a price-to-earnings-growth ratio of 3.13 and a beta of 0.18.

FirstEnergy (NYSE:FE) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.76 EPS for the quarter, beating the consensus estimate of $0.73 by $0.03. FirstEnergy had a return on equity of 19.21% and a net margin of 10.49%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $2.91 billion. During the same quarter in the prior year, the business earned $0.80 earnings per share. FirstEnergy’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that FirstEnergy will post 2.52 EPS for the current fiscal year.

Several large investors have recently bought and sold shares of FE. Vanguard Group Inc. raised its position in shares of FirstEnergy by 1.2% in the second quarter. Vanguard Group Inc. now owns 65,113,979 shares of the utilities provider’s stock worth $2,787,529,000 after buying an additional 783,467 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of FirstEnergy by 7.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 30,083,866 shares of the utilities provider’s stock worth $1,450,945,000 after buying an additional 2,120,802 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of FirstEnergy by 2,004.3% in the second quarter. Nuveen Asset Management LLC now owns 14,658,518 shares of the utilities provider’s stock worth $627,531,000 after buying an additional 13,961,923 shares in the last quarter. Invesco Ltd. raised its position in shares of FirstEnergy by 4.6% in the second quarter. Invesco Ltd. now owns 10,868,330 shares of the utilities provider’s stock worth $465,274,000 after buying an additional 479,046 shares in the last quarter. Finally, Northern Trust Corp raised its position in shares of FirstEnergy by 1.0% in the second quarter. Northern Trust Corp now owns 6,396,594 shares of the utilities provider’s stock worth $273,838,000 after buying an additional 62,001 shares in the last quarter. Hedge funds and other institutional investors own 94.22% of the company’s stock.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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