UBS Group Boosts FirstEnergy (NYSE:FE) Price Target to $44.00

FirstEnergy (NYSE:FE) had its price objective boosted by analysts at UBS Group from $41.00 to $44.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price objective suggests a potential upside of 8.83% from the company’s current price.

A number of other equities research analysts have also recently commented on FE. Guggenheim raised their price target on FirstEnergy from $45.00 to $47.00 and gave the company a “buy” rating in a report on Monday, April 7th. Scotiabank reiterated an “outperform” rating on shares of FirstEnergy in a research report on Friday, April 25th. Morgan Stanley lowered their price target on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, June 18th. Mizuho set a $43.00 price target on FirstEnergy in a research note on Monday, April 28th. Finally, Bank of America upgraded shares of FirstEnergy from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $42.00 to $45.00 in a research report on Wednesday, April 23rd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Trading Up 0.3%

Shares of NYSE:FE opened at $40.43 on Tuesday. The stock’s 50-day simple moving average is $41.63 and its two-hundred day simple moving average is $40.46. FirstEnergy has a 52-week low of $37.58 and a 52-week high of $44.97. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.34 and a current ratio of 0.42. The stock has a market capitalization of $23.33 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 2.46 and a beta of 0.40.

FirstEnergy (NYSE:FE) last released its earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.07. The company had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. FirstEnergy’s quarterly revenue was up 14.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.55 earnings per share. Analysts expect that FirstEnergy will post 2.66 EPS for the current year.

Insiders Place Their Bets

In other news, CAO Jason Lisowski sold 12,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $41.97, for a total value of $503,640.00. Following the completion of the sale, the chief accounting officer now owns 183 shares in the company, valued at approximately $7,680.51. This trade represents a 98.50% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.17% of the company’s stock.

Institutional Trading of FirstEnergy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Schroder Investment Management Group increased its stake in FirstEnergy by 56.0% in the fourth quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider’s stock worth $1,933,000 after purchasing an additional 17,506 shares during the period. Envestnet Portfolio Solutions Inc. increased its stake in FirstEnergy by 17.6% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 5,315 shares of the utilities provider’s stock worth $211,000 after buying an additional 797 shares during the period. Truist Financial Corp increased its stake in FirstEnergy by 19.0% in the 4th quarter. Truist Financial Corp now owns 62,420 shares of the utilities provider’s stock worth $2,483,000 after buying an additional 9,979 shares during the period. Proficio Capital Partners LLC bought a new stake in FirstEnergy during the 4th quarter valued at about $3,584,000. Finally, Mariner LLC boosted its position in FirstEnergy by 16.1% in the 4th quarter. Mariner LLC now owns 95,039 shares of the utilities provider’s stock valued at $3,781,000 after buying an additional 13,196 shares during the period. 89.41% of the stock is owned by hedge funds and other institutional investors.

About FirstEnergy

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.