Evercore ISI Issues Positive Forecast for FirstEnergy (NYSE:FE) Stock Price

FirstEnergy (NYSE:FE) had its price objective boosted by equities researchers at Evercore ISI from $41.00 to $47.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Evercore ISI’s target price points to a potential upside of 8.97% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price objective on shares of FirstEnergy from $41.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, April 25th. UBS Group boosted their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company a “neutral” rating in a report on Friday, March 21st. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research note on Thursday, January 23rd. Morgan Stanley reiterated an “overweight” rating on shares of FirstEnergy in a report on Wednesday, April 23rd. Finally, Scotiabank restated an “outperform” rating on shares of FirstEnergy in a report on Friday. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Trading Up 1.0 %

FE opened at $43.13 on Monday. FirstEnergy has a 1-year low of $37.58 and a 1-year high of $44.97. The stock has a market capitalization of $24.87 billion, a PE ratio of 27.83, a PEG ratio of 2.07 and a beta of 0.41. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. The firm has a 50-day moving average price of $40.28 and a two-hundred day moving average price of $40.69.

FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Wednesday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.07. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The firm had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.68 billion. During the same period last year, the company earned $0.55 earnings per share. The company’s revenue was up 14.5% on a year-over-year basis. As a group, equities analysts anticipate that FirstEnergy will post 2.66 earnings per share for the current fiscal year.

Institutional Investors Weigh In On FirstEnergy

Institutional investors and hedge funds have recently made changes to their positions in the stock. Boston Partners boosted its holdings in FirstEnergy by 73.5% in the fourth quarter. Boston Partners now owns 16,503,080 shares of the utilities provider’s stock valued at $656,309,000 after acquiring an additional 6,991,866 shares during the last quarter. Soroban Capital Partners LP lifted its position in shares of FirstEnergy by 60.2% in the 4th quarter. Soroban Capital Partners LP now owns 8,340,760 shares of the utilities provider’s stock worth $331,795,000 after purchasing an additional 3,133,083 shares during the period. Wealthquest Corp bought a new stake in shares of FirstEnergy in the 1st quarter valued at $53,169,000. Zimmer Partners LP increased its position in shares of FirstEnergy by 33.4% during the fourth quarter. Zimmer Partners LP now owns 4,918,857 shares of the utilities provider’s stock worth $195,672,000 after buying an additional 1,232,040 shares during the period. Finally, Amundi raised its stake in FirstEnergy by 103.8% during the fourth quarter. Amundi now owns 1,843,964 shares of the utilities provider’s stock worth $73,334,000 after buying an additional 939,240 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

About FirstEnergy

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