FirstEnergy Corp. Rating Increased to Buy at Jefferies Group (FE)
FirstEnergy Corp. (NYSE:FE) was upgraded by investment analysts at Jefferies Group from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, TheFlyOnTheWall.com reports. The firm currently has a $37.00 price target on the stock, up from their previous price target of $6.00. Jefferies Group’s target price suggests a potential upside of 10.41% from the company’s current price.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 33.51 on Wednesday. FirstEnergy Corp. has a 52-week low of $30.10 and a 52-week high of $44.61. The stock’s 50-day moving average is $33.65 and its 200-day moving average is $33.08. The company has a market cap of $14.041 billion and a P/E ratio of 34.81. FirstEnergy Corp. also saw a significant growth in short interest during the month of April. As of April 30th, there was short interest totalling 14,671,699 shares, a growth of 21.5% from the April 15th total of 12,072,006 shares. Based on an average trading volume of 3,297,037 shares, the days-to-cover ratio is currently 4.4 days. Approximately 3.5% of the company’s shares are sold short.
FirstEnergy Corp. (NYSE:FE) last released its earnings data on Tuesday, May 6th. The company reported $0.39 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.42 by $0.03. During the same quarter in the prior year, the company posted $0.76 earnings per share. On average, analysts predict that FirstEnergy Corp. will post $2.51 earnings per share for the current fiscal year.
A number of other firms have also recently commented on FE. Analysts at Citigroup Inc. reiterated a “sell” rating on shares of FirstEnergy Corp. in a research note on Thursday, April 24th. They now have a $30.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “hold” rating on shares of FirstEnergy Corp. in a research note on Wednesday, April 23rd. They now have a $34.00 price target on the stock. Finally, analysts at Zacks upgraded shares of FirstEnergy Corp. from an “underperform” rating to a “neutral” rating in a research note on Friday, April 11th. They now have a $35.00 price target on the stock. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. FirstEnergy Corp. presently has an average rating of “Hold” and a consensus price target of $35.18.
FirstEnergy Corp. is a holding company. The Company is a diversified energy company operating in three segments: regulated distribution, regulated transmission and competitive energy services segment.
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