FirstEnergy (NYSE:FE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

According to Zacks, “Shares of FirstEnergy's have lost its value compared with the industry’s gain in the last one year. FirstEnergy faces strong competition in the wholesale market, risk of unplanned outages and stringent regulatory norms are some of the headwinds.  However, FirstEnergy’s modernization drive and its ambitious Energizing the Future plan is processing well and is aimed at upgrading its transmission capabilities. Recently, the company completed inspection of its assets and went ahead with necessary maintenance work of its equipment before the upcoming winter. The company is working to transform itself into a regulated company by mid of 2018.”

FE has been the subject of several other research reports. Mizuho reaffirmed a “hold” rating and set a $30.50 price target on shares of FirstEnergy in a research note on Tuesday, October 24th. KeyCorp reaffirmed a “hold” rating on shares of FirstEnergy in a research note on Friday, October 20th. JPMorgan Chase & Co. set a $34.00 price target on FirstEnergy and gave the stock a “hold” rating in a research note on Thursday, October 12th. Guggenheim reaffirmed a “buy” rating and set a $47.00 price target on shares of FirstEnergy in a research note on Wednesday, January 3rd. Finally, Citigroup lifted their price target on FirstEnergy from $31.00 to $34.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 17th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and seven have assigned a buy rating to the company’s stock. FirstEnergy currently has an average rating of “Hold” and an average target price of $35.32.

FirstEnergy (FE) traded down $0.17 during trading on Monday, reaching $30.07. The company had a trading volume of 3,989,000 shares, compared to its average volume of 4,554,156. FirstEnergy has a twelve month low of $27.93 and a twelve month high of $35.22. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69. The stock has a market capitalization of $13,380.00, a PE ratio of -2.55 and a beta of 0.25.

FirstEnergy (NYSE:FE) last posted its earnings results on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.11. FirstEnergy had a positive return on equity of 19.29% and a negative net margin of 35.99%. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period in the previous year, the business earned $0.90 earnings per share. equities research analysts predict that FirstEnergy will post 3.04 EPS for the current year.

Several hedge funds have recently bought and sold shares of the business. Sandy Spring Bank grew its holdings in shares of FirstEnergy by 1.3% during the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock worth $150,000 after acquiring an additional 66 shares during the period. Sentry Investment Management LLC grew its holdings in shares of FirstEnergy by 0.5% during the 2nd quarter. Sentry Investment Management LLC now owns 35,060 shares of the utilities provider’s stock worth $1,022,000 after acquiring an additional 185 shares during the period. Norinchukin Bank The grew its holdings in shares of FirstEnergy by 0.7% during the 2nd quarter. Norinchukin Bank The now owns 36,293 shares of the utilities provider’s stock worth $1,058,000 after acquiring an additional 240 shares during the period. National Asset Management Inc. grew its holdings in shares of FirstEnergy by 4.8% during the 2nd quarter. National Asset Management Inc. now owns 8,245 shares of the utilities provider’s stock worth $242,000 after acquiring an additional 379 shares during the period. Finally, Simmons Bank grew its holdings in shares of FirstEnergy by 2.8% during the 2nd quarter. Simmons Bank now owns 16,475 shares of the utilities provider’s stock worth $480,000 after acquiring an additional 450 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

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About FirstEnergy

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.

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