FirstEnergy (NYSE:FE) Price Target Increased to $49.00 by Analysts at Wells Fargo & Company

FirstEnergy (NYSE:FEGet Rating) had its price target boosted by analysts at Wells Fargo & Company from $43.00 to $49.00 in a note issued to investors on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target suggests a potential upside of 6.50% from the stock’s current price.

FE has been the topic of a number of other research reports. Evercore ISI upgraded shares of 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. StockNews.com began coverage on shares of FirstEnergy in a research report on Thursday, March 31st. They issued a “hold” rating on the stock. Morgan Stanley raised their target price on shares of 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 shares of FirstEnergy from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, January 18th. Finally, KeyCorp raised their target price on shares of FirstEnergy from $49.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, April 20th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $46.25.

NYSE FE opened at $46.01 on Monday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 2.56. The firm has a market capitalization of $26.27 billion, a price-to-earnings ratio of 20.54, a P/E/G ratio of 3.13 and a beta of 0.35. The firm’s 50 day simple moving average is $44.35 and its 200 day simple moving average is $41.34. FirstEnergy has a 1 year low of $35.42 and a 1 year high of $48.85.

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

Hedge funds have recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its stake in FirstEnergy by 8.4% during the third quarter. Vontobel Holding Ltd. now owns 12,372 shares of the utilities provider’s stock worth $441,000 after buying an additional 954 shares during the last quarter. Nordea Investment Management AB raised its stake in FirstEnergy by 100.0% during the third quarter. Nordea Investment Management AB now owns 81,040 shares of the utilities provider’s stock worth $2,924,000 after buying an additional 40,520 shares during the last quarter. ING Groep NV raised its stake in FirstEnergy by 2.3% during the third quarter. ING Groep NV now owns 45,687 shares of the utilities provider’s stock worth $1,627,000 after buying an additional 1,016 shares during the last quarter. Victory Capital Management Inc. raised its stake in FirstEnergy by 37.6% during the third quarter. Victory Capital Management Inc. now owns 1,527,358 shares of the utilities provider’s stock worth $54,405,000 after buying an additional 417,047 shares during the last quarter. Finally, New York State Common Retirement Fund raised its stake in FirstEnergy by 1.6% during the third quarter. New York State Common Retirement Fund now owns 533,818 shares of the utilities provider’s stock worth $19,015,000 after buying an additional 8,645 shares during the last quarter. 87.82% of the stock is owned by hedge funds and other 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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