Credit Suisse Group Initiates Coverage on FirstEnergy (NYSE:FE)

Equities research analysts at Credit Suisse Group started coverage on shares of FirstEnergy (NYSE:FEGet Rating) in a research note issued on Monday, The Fly reports. The brokerage set an “outperform” rating on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company raised their target price on FirstEnergy from $43.00 to $49.00 and gave the company an “equal weight” rating in a research report on Monday. Evercore ISI upgraded FirstEnergy from an “in-line” rating to an “outperform” rating and raised their target price for the company from $40.00 to $46.00 in a research report on Friday, January 7th. Morgan Stanley raised their target price on FirstEnergy from $50.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Bank of America raised their target price on FirstEnergy from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, January 18th. Finally, Zacks Investment Research upgraded FirstEnergy from a “sell” rating to a “hold” rating and set a $47.00 target price on the stock in a research report on Wednesday, March 16th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, FirstEnergy currently has an average rating of “Buy” and an average target price of $46.25.

FE stock traded down $0.57 during mid-day trading on Monday, reaching $45.44. 3,751,106 shares of the company’s stock were exchanged, compared to its average volume of 4,451,252. The company has a market cap of $25.94 billion, a price-to-earnings ratio of 20.29, a price-to-earnings-growth ratio of 3.13 and a beta of 0.35. The stock’s 50 day moving average is $44.35 and its 200 day moving average is $41.34. The company has a debt-to-equity ratio of 2.56, a current ratio of 0.73 and a quick ratio of 0.67. FirstEnergy has a 12-month low of $35.42 and a 12-month high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The utilities provider reported $0.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.85 billion. FirstEnergy had a return on equity of 17.65% and a net margin of 10.85%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.69 EPS. On average, research analysts forecast that FirstEnergy will post 2.42 earnings per share for the current fiscal year.

Hedge funds have recently bought and sold shares of the business. Dixon Hughes Goodman Wealth Advisors LLC increased its stake in FirstEnergy by 419.8% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 551 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 445 shares during the last quarter. Pinnacle Bancorp Inc. increased its stake in FirstEnergy by 126.3% during the first quarter. Pinnacle Bancorp Inc. now owns 611 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 341 shares during the last quarter. Comprehensive Financial Consultants Institutional Inc. acquired a new stake in FirstEnergy during the fourth quarter worth $27,000. Riverview Trust Co acquired a new stake in FirstEnergy during the first quarter worth $32,000. Finally, Jacobi Capital Management LLC grew its stake in shares of FirstEnergy by 192.5% in the third quarter. Jacobi Capital Management LLC now owns 816 shares of the utilities provider’s stock valued at $29,000 after buying an additional 537 shares in the last quarter. 87.82% of the stock is owned by institutional investors.

FirstEnergy Company Profile (Get Rating)

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, natural gas, wind, and solar power generating facilities.

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