FirstEnergy Corp. (NYSE:FE) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $36.10 and last traded at $36.00, with a volume of 201443 shares trading hands. The stock had previously closed at $35.21.
FE has been the topic of a number of research reports. Morgan Stanley boosted their target price on shares of FirstEnergy from $35.00 to $37.00 and gave the stock a “buy” rating in a research note on Monday, April 16th. ValuEngine cut shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Thursday, May 17th. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $38.00 target price on the stock in a research note on Tuesday, June 5th. Mizuho raised shares of FirstEnergy from a “neutral” rating to a “buy” rating in a research note on Monday, May 7th. Finally, Wells Fargo & Co raised shares of FirstEnergy from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $27.93 to $34.30 in a research note on Monday, April 30th. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $35.86.
The firm has a market capitalization of $17.26 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 2.55 and a beta of 0.28. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.40 and a current ratio of 0.46.
FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Monday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $3.36 billion. FirstEnergy had a positive return on equity of 22.52% and a negative net margin of 5.33%. FirstEnergy’s revenue for the quarter was down 18.4% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 EPS. equities research analysts expect that FirstEnergy Corp. will post 2.36 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of the company. Sawtooth Solutions LLC lifted its holdings in shares of FirstEnergy by 3.7% during the first quarter. Sawtooth Solutions LLC now owns 41,960 shares of the utilities provider’s stock worth $1,427,000 after purchasing an additional 1,514 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings in FirstEnergy by 0.3% in the first quarter. State Board of Administration of Florida Retirement System now owns 664,748 shares of the utilities provider’s stock valued at $22,608,000 after buying an additional 1,662 shares during the period. Nomura Asset Management Co. Ltd. lifted its holdings in FirstEnergy by 2.2% in the first quarter. Nomura Asset Management Co. Ltd. now owns 79,014 shares of the utilities provider’s stock valued at $2,687,000 after buying an additional 1,703 shares during the period. Van ECK Associates Corp lifted its holdings in FirstEnergy by 4.4% in the first quarter. Van ECK Associates Corp now owns 42,306 shares of the utilities provider’s stock valued at $1,439,000 after buying an additional 1,765 shares during the period. Finally, BB&T Securities LLC lifted its holdings in FirstEnergy by 2.9% in the fourth quarter. BB&T Securities LLC now owns 66,606 shares of the utilities provider’s stock valued at $2,039,000 after buying an additional 1,874 shares during the period. Institutional investors own 95.02% of the company’s stock.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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