FirstEnergy (FE) Rating Lowered to Hold at ValuEngine

FirstEnergy (NYSE:FE) was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating in a research report issued on Thursday.

Other analysts have also recently issued research reports about the stock. Morgan Stanley increased their price objective on shares of FirstEnergy from $35.00 to $37.00 and gave the stock a “buy” rating in a report on Monday, April 16th. Wolfe Research raised shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday, January 29th. UBS assumed coverage on shares of FirstEnergy in a report on Friday, February 2nd. They issued a “buy” rating and a $39.00 price objective on the stock. Bank of America raised shares of FirstEnergy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $32.09 to $36.00 in a report on Friday, January 26th. Finally, Citigroup dropped their price objective on shares of FirstEnergy from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, January 30th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $35.52.

Shares of FE stock traded down $0.42 during trading hours on Thursday, reaching $33.25. The stock had a trading volume of 3,829,790 shares, compared to its average volume of 6,787,270. The company has a quick ratio of 0.40, a current ratio of 0.46 and a debt-to-equity ratio of 2.32. FirstEnergy has a twelve month low of $33.42 and a twelve month high of $33.77. The stock has a market cap of $16.04 billion, a PE ratio of 10.83, a price-to-earnings-growth ratio of 2.33 and a beta of 0.24.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Monday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a positive return on equity of 22.52% and a negative net margin of 5.33%. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same period last year, the business earned $0.78 EPS. The firm’s revenue was down 18.4% on a year-over-year basis. equities analysts forecast that FirstEnergy will post 2.41 EPS for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the business. Private Capital Group LLC increased its stake in FirstEnergy by 1,890.7% during the 1st quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock valued at $102,000 after buying an additional 2,836 shares during the period. Baker Ellis Asset Management LLC acquired a new position in FirstEnergy during the 4th quarter valued at about $122,000. Tower Research Capital LLC TRC increased its stake in FirstEnergy by 344.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,791 shares of the utilities provider’s stock valued at $147,000 after buying an additional 3,714 shares during the period. Signition LP acquired a new position in FirstEnergy during the 1st quarter valued at about $204,000. Finally, Ostrum Asset Management acquired a new position in FirstEnergy during the 1st quarter valued at about $222,000. 79.49% of the stock is currently owned by hedge funds and other institutional investors.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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

Analyst Recommendations for FirstEnergy (NYSE:FE)

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