FirstEnergy (NYSE:FE) had its price target reduced by Citigroup from $34.00 to $32.00 in a report issued on Tuesday. The brokerage presently has a “neutral” rating on the utilities provider’s stock. Citigroup’s price target would indicate a potential downside of 0.99% from the company’s current price.
A number of other brokerages also recently issued reports on FE. ValuEngine upgraded FirstEnergy from a “hold” rating to a “buy” rating in a research report on Wednesday, November 15th. Zacks Investment Research upgraded FirstEnergy from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. KeyCorp reiterated a “hold” rating on shares of FirstEnergy in a report on Friday, October 20th. Bank of America assumed coverage on FirstEnergy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 target price for the company. Finally, Wolfe Research upgraded FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. FirstEnergy has a consensus rating of “Buy” and an average target price of $35.43.
Shares of FirstEnergy (NYSE:FE) traded up $0.15 on Tuesday, hitting $32.32. The stock had a trading volume of 13,226,541 shares, compared to its average volume of 9,883,782. FirstEnergy has a 52 week low of $27.93 and a 52 week high of $35.22. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market capitalization of $14,275.49, a P/E ratio of -2.76, a price-to-earnings-growth ratio of 12.51 and a beta of 0.25.
A number of institutional investors have recently made changes to their positions in the business. Baker Ellis Asset Management LLC acquired a new stake in FirstEnergy in the fourth quarter valued at approximately $122,000. Conning Inc. grew its stake in FirstEnergy by 216.1% in the fourth quarter. Conning Inc. now owns 49,364 shares of the utilities provider’s stock valued at $1,512,000 after acquiring an additional 33,745 shares during the period. Twin Capital Management Inc. grew its stake in FirstEnergy by 3.3% in the fourth quarter. Twin Capital Management Inc. now owns 364,670 shares of the utilities provider’s stock valued at $11,166,000 after acquiring an additional 11,710 shares during the period. TIAA FSB grew its stake in FirstEnergy by 48.1% in the fourth quarter. TIAA FSB now owns 19,364 shares of the utilities provider’s stock valued at $593,000 after acquiring an additional 6,287 shares during the period. Finally, Farmers Trust Co. acquired a new stake in FirstEnergy in the fourth quarter valued at approximately $251,000. 82.52% of the stock is 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.
