FirstEnergy (NYSE:FE) Price Target Lowered to $44.00 at Scotiabank

FirstEnergy (NYSE:FE) had its price objective cut by research analysts at Scotiabank from $50.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. The firm currently has a “sector outperform” rating on the utilities provider’s stock. Scotiabank’s price target points to a potential upside of 13.43% from the stock’s current price.

Other analysts also recently issued reports about the stock. Wells Fargo & Company reduced their target price on shares of FirstEnergy from $48.00 to $41.00 and set an “equal weight” rating on the stock in a research report on Friday. Seaport Res Ptn downgraded shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 31st. Guggenheim reduced their target price on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday. Wolfe Research downgraded shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Finally, KeyCorp reduced their target price on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, FirstEnergy currently has a consensus rating of “Hold” and an average target price of $45.33.

FirstEnergy Trading Up 0.6 %

NYSE FE traded up $0.25 during trading on Friday, hitting $38.79. The company had a trading volume of 10,194,888 shares, compared to its average volume of 4,707,559. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy has a one year low of $36.01 and a one year high of $44.97. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 25.03, a price-to-earnings-growth ratio of 2.07 and a beta of 0.52. The company’s fifty day moving average is $40.09 and its 200-day moving average is $41.77.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.53 billion. On average, sell-side analysts predict that FirstEnergy will post 2.66 earnings per share for the current year.

Hedge Funds Weigh In On FirstEnergy

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Covestor Ltd lifted its stake in FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 255 shares during the period. Kestra Investment Management LLC bought a new position in shares of FirstEnergy in the 4th quarter worth approximately $26,000. Lee Danner & Bass Inc. bought a new position in shares of FirstEnergy in the 4th quarter worth approximately $26,000. True Wealth Design LLC lifted its stake in shares of FirstEnergy by 4,571.4% in the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 640 shares during the period. Finally, WASHINGTON TRUST Co lifted its stake in shares of FirstEnergy by 293.0% in the 4th quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 586 shares during the period. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Company Profile

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.