FirstEnergy (FE) Upgraded to “Outperform” by Wolfe Research

FirstEnergy (NYSE:FE) was upgraded by equities researchers at Wolfe Research from a “peer perform” rating to an “outperform” rating in a report released on Monday.

A number of other equities research analysts have also recently commented on FE. Zacks Investment Research raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, January 2nd. Bank of America assumed coverage on shares of FirstEnergy in a research note on Tuesday, October 24th. They set a “neutral” rating and a $34.00 price objective on the stock. Deutsche Bank raised shares of FirstEnergy from a “hold” rating to a “buy” rating in a research note on Tuesday, October 17th. KeyCorp reaffirmed a “hold” rating on shares of FirstEnergy in a research note on Friday, October 20th. Finally, Guggenheim reaffirmed a “buy” rating and set a $47.00 price objective on shares of FirstEnergy in a research note on Wednesday, January 3rd. Nine analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $35.46.

Shares of FirstEnergy (NYSE:FE) traded up $0.01 during trading hours on Monday, reaching $32.10. 1,438,493 shares of the company traded hands, compared to its average volume of 8,846,394. FirstEnergy has a one year low of $27.93 and a one year high of $35.22. The company has a current ratio of 0.69, a quick ratio of 0.56 and a debt-to-equity ratio of 3.29. The firm has a market cap of $14,275.49, a P/E ratio of -2.74, a PEG ratio of 12.51 and a beta of 0.25.

FirstEnergy (NYSE:FE) last issued its quarterly earnings results on Thursday, October 26th. The utilities provider reported $0.97 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.11. FirstEnergy had a negative net margin of 35.99% and a positive return on equity of 19.29%. The company had revenue of $3.70 billion for the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter in the prior year, the company earned $0.90 EPS. research analysts anticipate that FirstEnergy will post 3.06 EPS for the current year.

Institutional investors have recently added to or reduced their stakes in the stock. Ameriprise Financial Inc. grew its stake in FirstEnergy by 13.0% in the 3rd quarter. Ameriprise Financial Inc. now owns 178,334 shares of the utilities provider’s stock valued at $5,497,000 after acquiring an additional 20,584 shares during the period. Parametric Portfolio Associates LLC grew its stake in FirstEnergy by 8.0% in the 3rd quarter. Parametric Portfolio Associates LLC now owns 2,141,098 shares of the utilities provider’s stock valued at $66,010,000 after acquiring an additional 157,963 shares during the period. GSA Capital Partners LLP acquired a new stake in FirstEnergy in the 3rd quarter valued at $1,361,000. Synovus Financial Corp grew its stake in FirstEnergy by 30.2% in the 3rd quarter. Synovus Financial Corp now owns 22,799 shares of the utilities provider’s stock valued at $699,000 after acquiring an additional 5,284 shares during the period. Finally, AXA grew its stake in FirstEnergy by 7,554.9% in the 3rd quarter. AXA now owns 1,030,430 shares of the utilities provider’s stock valued at $31,768,000 after acquiring an additional 1,016,969 shares during the period. 82.52% of the stock is currently owned by hedge funds and other institutional investors.

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FirstEnergy Company Profile

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 (NYSE:FE)

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