FirstEnergy Corporation (NYSE:FE) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued to investors on Monday.

Other research analysts have also issued reports about the company. J P Morgan Chase & Co lowered FirstEnergy Corporation from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $36.00 to $32.00 in a research report on Monday, May 1st. Mizuho reiterated a “neutral” rating and issued a $31.25 price objective on shares of FirstEnergy Corporation in a research report on Wednesday, April 19th. Goldman Sachs Group, Inc. (The) lowered FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a research report on Monday, June 26th. Barclays PLC upgraded FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and decreased their price objective for the company from $38.00 to $36.00 in a research report on Monday, May 1st. Finally, Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy Corporation in a research report on Tuesday, July 11th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $34.09.

FirstEnergy Corporation (NYSE:FE) traded down 0.87% on Monday, reaching $31.79. The company had a trading volume of 3,599,422 shares. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96. The company has a 50-day moving average of $30.08 and a 200 day moving average of $30.27. The stock’s market cap is $14.12 billion.

FirstEnergy Corporation (NYSE:FE) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.61. The business had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.38 billion. FirstEnergy Corporation had a positive return on equity of 15.41% and a negative net margin of 35.59%. FirstEnergy Corporation’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.56 EPS. On average, equities research analysts predict that FirstEnergy Corporation will post $2.81 EPS for the current year.

ILLEGAL ACTIVITY WARNING: “FirstEnergy Corporation (FE) Upgraded to Buy at ValuEngine” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this story on another site, it was illegally stolen and reposted in violation of United States & international copyright laws. The legal version of this story can be accessed at https://www.americanbankingnews.com/2017/08/07/firstenergy-corporation-fe-upgraded-to-buy-at-valuengine.html.

Hedge funds have recently modified their holdings of the company. BlackRock Inc. increased its stake in shares of 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 during the last quarter. Vanguard Group Inc. increased its stake in shares of 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 during the last quarter. LSV Asset Management increased its stake in shares of FirstEnergy Corporation by 8.2% in the first quarter. LSV Asset Management now owns 14,052,653 shares of the utilities provider’s stock valued at $447,155,000 after buying an additional 1,065,573 shares during the last quarter. Bank of New York Mellon Corp increased its stake in shares of FirstEnergy Corporation by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 11,546,862 shares of the utilities provider’s stock valued at $336,706,000 after buying an additional 745,495 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in shares of FirstEnergy Corporation by 14.1% in the first quarter. Geode Capital Management LLC now owns 5,209,630 shares of the utilities provider’s stock valued at $165,576,000 after buying an additional 642,687 shares during the last quarter. 78.11% of the stock is currently owned by institutional investors and hedge funds.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for FirstEnergy Corporation (NYSE:FE)

Receive News & Ratings for FirstEnergy Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy Corporation and related companies with MarketBeat.com's FREE daily email newsletter.