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A number of firms have modified their ratings and price targets on shares of FirstEnergy Corp. (NYSE: FE) recently:

  • FirstEnergy Corp. had its price target lowered by analysts at Barclays from $38.00 to $35.00.
  • FirstEnergy Corp. had its “hold” rating reaffirmed by analysts at Deutsche Bank. They now have a $33.00 price target on the stock, down previously from $34.00.
  • FirstEnergy Corp. had its price target lowered by analysts at Jefferies Group from $37.00 to $36.50.
  • FirstEnergy Corp. was upgraded by analysts at BGC Financial from a “hold” rating to a “buy” rating.
  • FirstEnergy Corp. had its “neutral” rating reaffirmed by analysts at Zacks. They now have a $33.00 price target on the stock. Zacks‘ analyst wrote, “FirstEnergy Corp. earnings in second quarter surpassed the Zacks Consensus Estimates but lagged the year ago earnings. The year-over-year decline reflects an extremely challenging competitive business, which more than offset the strong performance of its distribution and transmission business. In addition, higher operating expenses had an unfavorable impact on year-over-year comparisons. The company is processing well with its regulated growth strategy and invested nearly $1.3 billion this year in more than 1,300 projects to strengthen its transmission channels. However, U.S. Environmental Protection Agency’s Clean Power Plan proposal, which aims to lower carbon emission might impact its nuclear fueled as well as its coal fired electricity producing units. We retain our Neutral recommendation on the stock.”

Shares of FirstEnergy Corp. (NYSE:FE) opened at 32.72 on Friday. FirstEnergy Corp. has a 52 week low of $29.98 and a 52 week high of $38.92. The stock has a 50-day moving average of $32.37 and a 200-day moving average of $32.63. The company has a market cap of $13.754 billion and a P/E ratio of 21.46. FirstEnergy Corp. also was the target of a significant increase in short interest in July. As of July 31st, there was short interest totalling 12,868,330 shares, an increase of 98.9% from the July 15th total of 6,468,904 shares. Currently, 3.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,739,910 shares, the days-to-cover ratio is currently 3.4 days.

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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