FirstEnergy Corp. Receives Average Recommendation of “Hold” from Brokerages (NYSE:FE)
FirstEnergy Corp. (NYSE:FE) has received a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the stock, AR Network reports. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $35.20.
A number of analysts have recently weighed in on FE shares. Analysts at Jefferies Group upgraded shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, May 7th. They now have a $37.00 price target on the stock, up previously from $6.00. Separately, 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. Finally, 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.
FirstEnergy Corp. (NYSE:FE) opened at 33.31 on Wednesday. FirstEnergy Corp. has a one year low of $30.10 and a one year high of $40.22. The stock’s 50-day moving average is $33.17 and its 200-day moving average is $32.. The company has a market cap of $13.987 billion and a price-to-earnings ratio of 34.40. FirstEnergy Corp. also was the recipient of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 7,180,924 shares, a drop of 51.1% from the April 30th total of 14,671,699 shares. Based on an average daily trading volume, of 5,866,520 shares, the days-to-cover ratio is presently 1.2 days. Currently, 1.7% of the shares of the company are short sold.
FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.39 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.42 by $0.03. During the same quarter in the previous year, the company posted $0.76 earnings per share. On average, analysts predict that FirstEnergy Corp. will post $2.48 earnings per share for the current fiscal year.
In other FirstEnergy Corp. news, EVP Charles Jones sold 14,010 shares of the company’s stock on the open market in a transaction dated Thursday, May 15th. The shares were sold at an average price of $32.28, for a total transaction of $452,242.80. Following the completion of the sale, the executive vice president now directly owns 60,572 shares of the company’s stock, valued at approximately $1,955,264. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.
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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