FirstEnergy (NYSE:FE) Price Target Raised to $47.00 at KeyCorp

FirstEnergy (NYSE:FE) had its target price upped by research analysts at KeyCorp from $46.00 to $47.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price target indicates a potential upside of 5.59% from the company’s current price.

Other equities analysts have also recently issued reports about the stock. Argus upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, September 20th. Bank of America increased their price objective on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. Barclays lifted their target price on FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. Mizuho raised their price objective on FirstEnergy from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Monday, June 3rd. Finally, Morgan Stanley lifted their price objective on FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 25th. One 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’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $44.55.

FirstEnergy Trading Up 0.4 %

Shares of FE stock opened at $44.51 on Monday. FirstEnergy has a twelve month low of $32.18 and a twelve month high of $44.97. The stock’s fifty day simple moving average is $43.14 and its 200 day simple moving average is $40.31. The company has a quick ratio of 0.43, a current ratio of 0.51 and a debt-to-equity ratio of 1.52. The firm has a market capitalization of $25.62 billion, a P/E ratio of 25.58, a P/E/G ratio of 2.32 and a beta of 0.50.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The company had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same period in the previous year, the business posted $0.47 earnings per share. As a group, sell-side analysts predict that FirstEnergy will post 2.7 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Van ECK Associates Corp increased its holdings in shares of FirstEnergy by 41.4% during the first quarter. Van ECK Associates Corp now owns 187,964 shares of the utilities provider’s stock valued at $7,259,000 after acquiring an additional 54,990 shares in the last quarter. Lord Abbett & CO. LLC increased its stake in FirstEnergy by 5.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,335,364 shares of the utilities provider’s stock valued at $51,572,000 after purchasing an additional 67,469 shares in the last quarter. CCM Investment Advisers LLC acquired a new position in FirstEnergy during the fourth quarter worth $9,867,000. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in FirstEnergy by 3.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,317,521 shares of the utilities provider’s stock worth $50,422,000 after buying an additional 42,484 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of FirstEnergy by 214.5% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 73,567 shares of the utilities provider’s stock valued at $2,841,000 after buying an additional 50,176 shares in the last quarter. 89.41% of the stock is owned by 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.