FirstEnergy (NYSE:FE) PT Lowered to $44.00 at Morgan Stanley

FirstEnergy (NYSE:FE) had its price target decreased by Morgan Stanley from $46.00 to $44.00 in a report issued on Monday, Benzinga reports. Morgan Stanley currently has an overweight rating on the utilities provider’s stock.

Several other brokerages have also recently weighed in on FE. Scotiabank lowered their price target on shares of FirstEnergy from $41.00 to $40.00 and set a sector perform rating for the company in a research report on Monday, April 22nd. Mizuho lifted their price target on FirstEnergy from $38.00 to $41.00 and gave the company a neutral rating in a report on Monday, June 3rd. StockNews.com upgraded FirstEnergy from a sell rating to a hold rating in a research note on Monday, April 29th. Bank of America lifted their target price on FirstEnergy from $30.00 to $35.00 and gave the company an underperform rating in a research note on Tuesday, April 23rd. Finally, The Goldman Sachs Group began coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a buy rating and a $45.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, FirstEnergy presently has an average rating of Hold and a consensus target price of $40.09.

FirstEnergy Stock Performance

Shares of NYSE:FE opened at $38.54 on Monday. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.56 and a current ratio of 0.65. The firm has a market cap of $22.18 billion, a PE ratio of 22.15, a price-to-earnings-growth ratio of 2.43 and a beta of 0.50. The firm’s 50 day simple moving average is $39.00 and its 200-day simple moving average is $37.96. FirstEnergy has a one year low of $32.18 and a one year high of $40.65.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.36 billion. As a group, equities analysts predict that FirstEnergy will post 2.69 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. FinTrust Capital Advisors LLC boosted its position in FirstEnergy by 1,150.9% in the first quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after buying an additional 610 shares during the last quarter. Sachetta LLC acquired a new stake in shares of FirstEnergy in the fourth quarter worth $25,000. Sugarloaf Wealth Management LLC purchased a new position in shares of FirstEnergy during the fourth quarter worth $29,000. Scarborough Advisors LLC acquired a new position in FirstEnergy during the fourth quarter valued at $31,000. Finally, Western Pacific Wealth Management LP purchased a new stake in FirstEnergy in the first quarter valued at $36,000. 89.41% of the stock is owned by institutional investors and hedge funds.

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.