FirstEnergy Corporation (NYSE:FE)‘s stock had its “overweight” rating reissued by analysts at Morgan Stanley in a report issued on Tuesday, MarketBeat Ratings reports.

A number of other research analysts also recently issued reports on the stock. BidaskClub downgraded shares of FirstEnergy Corporation from a “sell” rating to a “strong sell” rating in a research report on Saturday, June 10th. Barclays PLC raised shares of FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and cut their price objective for the stock from $38.00 to $36.00 in a research report on Monday, May 1st. Goldman Sachs Group, Inc. (The) raised shares of FirstEnergy Corporation from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Thursday, March 23rd. They noted that the move was a valuation call. Citigroup Inc. reaffirmed a “neutral” rating and issued a $34.00 price objective (up previously from $32.00) on shares of FirstEnergy Corporation in a research report on Saturday, April 22nd. Finally, ValuEngine downgraded shares of FirstEnergy Corporation from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $34.25.

Shares of FirstEnergy Corporation (FE) opened at 29.28 on Tuesday. The stock’s market cap is $12.99 billion. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $36.60. The firm has a 50-day moving average of $29.12 and a 200-day moving average of $30.38.

FirstEnergy Corporation (NYSE:FE) last posted its earnings results on Thursday, April 27th. The utilities provider reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.07. The business had revenue of $3.60 billion for the quarter, compared to the consensus estimate of $3.64 billion. FirstEnergy Corporation had a negative net margin of 44.23% and a positive return on equity of 12.79%. The company’s revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the firm posted $0.80 EPS. On average, equities research analysts expect that FirstEnergy Corporation will post $2.80 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock valued at $1,230,678,000 after buying an additional 37,741,283 shares in the last quarter. Bank of New York Mellon Corp increased its stake in FirstEnergy Corporation by 90.8% in the first quarter. Bank of New York Mellon Corp now owns 10,801,367 shares of the utilities provider’s stock valued at $343,698,000 after buying an additional 5,141,450 shares in the last quarter. Vanguard Group Inc. increased its stake in FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock valued at $1,144,430,000 after buying an additional 2,378,538 shares in the last quarter. Prudential Financial Inc. increased its stake in FirstEnergy Corporation by 73.2% in the first quarter. Prudential Financial Inc. now owns 5,096,548 shares of the utilities provider’s stock valued at $162,172,000 after buying an additional 2,154,657 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in FirstEnergy Corporation by 54.8% in the first quarter. Bank of America Corp DE now owns 4,423,238 shares of the utilities provider’s stock valued at $140,747,000 after buying an additional 1,566,627 shares in the last quarter. 77.96% of the stock is currently owned by institutional investors.

About FirstEnergy Corporation

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

Analyst Recommendations for FirstEnergy Corporation (NYSE:FE)

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