FirstEnergy (NYSE:FE) Stock Price Expected to Rise, UBS Group Analyst Says

FirstEnergy (NYSE:FE) had its target price hoisted by stock analysts at UBS Group from $41.00 to $43.00 in a report released on Friday,Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. UBS Group’s target price would indicate a potential upside of 8.54% from the stock’s previous close.

Other equities analysts have also issued reports about the stock. Morgan Stanley reduced their target price on shares of FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a research note on Thursday. KeyCorp reduced their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating for the company in a research note on Wednesday, December 4th. Guggenheim reduced their target price on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating for the company in a research note on Friday, February 28th. Scotiabank reduced their target price on shares of FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating for the company in a research note on Friday, February 28th. Finally, Wells Fargo & Company reduced their target price on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating for the company in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $45.00.

FirstEnergy Price Performance

Shares of FE stock opened at $39.62 on Friday. FirstEnergy has a 12-month low of $36.81 and a 12-month high of $44.97. The firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of 25.56, a price-to-earnings-growth ratio of 2.07 and a beta of 0.48. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The firm has a fifty day moving average of $39.95 and a 200-day moving average of $41.32.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.53 billion. On average, equities research analysts forecast that FirstEnergy will post 2.66 earnings per share for the current year.

Institutional Investors Weigh In On FirstEnergy

A number of institutional investors and hedge funds have recently modified their holdings of FE. Empowered Funds LLC raised its holdings in FirstEnergy by 10.3% in the 3rd quarter. Empowered Funds LLC now owns 9,421 shares of the utilities provider’s stock valued at $418,000 after acquiring an additional 881 shares during the period. Pathstone Holdings LLC raised its holdings in FirstEnergy by 2.3% in the 3rd quarter. Pathstone Holdings LLC now owns 34,555 shares of the utilities provider’s stock valued at $1,533,000 after acquiring an additional 768 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in FirstEnergy in the 3rd quarter valued at about $590,000. PNC Financial Services Group Inc. raised its holdings in FirstEnergy by 6.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 86,553 shares of the utilities provider’s stock valued at $3,839,000 after acquiring an additional 5,390 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings in FirstEnergy by 17.1% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 99,808 shares of the utilities provider’s stock valued at $4,426,000 after acquiring an additional 14,606 shares during the period. 89.41% of the stock is owned by institutional investors.

FirstEnergy Company Profile

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.