KeyCorp Increases FirstEnergy (NYSE:FE) Price Target to $47.00

FirstEnergy (NYSE:FE) had its target price upped by equities research analysts at KeyCorp from $46.00 to $47.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective would suggest a potential upside of 5.59% from the stock’s current price.

FE has been the subject of a number of other reports. Wells Fargo & Company raised their price target on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Bank of America boosted their target price on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Barclays increased their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the company an “equal weight” rating in a research note on Tuesday, July 9th. Morgan Stanley lifted their price objective on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Finally, Mizuho upped their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $44.55.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $44.51 on Monday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43. The firm has a market cap of $25.62 billion, a price-to-earnings ratio of 25.58, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The stock’s 50-day moving average is $43.14 and its 200-day moving average is $40.31. FirstEnergy has a one year low of $32.18 and a one year high of $44.97.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting the consensus estimate of $0.56. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same quarter in the previous year, the business posted $0.47 EPS. Equities analysts predict that FirstEnergy will post 2.7 earnings per share for the current fiscal year.

Institutional Trading of FirstEnergy

Several large investors have recently made changes to their positions in FE. Capital World Investors lifted its stake in FirstEnergy by 14.3% during the first quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock worth $3,009,615,000 after purchasing an additional 9,773,785 shares during the last quarter. Boston Partners lifted its position in shares of FirstEnergy by 2.3% during the 1st quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock worth $367,423,000 after buying an additional 218,165 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its stake in FirstEnergy by 0.9% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,930,826 shares of the utilities provider’s stock valued at $344,908,000 after buying an additional 82,482 shares in the last quarter. First Pacific Advisors LP boosted its stake in FirstEnergy by 2.0% in the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock valued at $136,152,000 after buying an additional 69,512 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in FirstEnergy by 20.6% in the fourth quarter. 1832 Asset Management L.P. now owns 3,454,376 shares of the utilities provider’s stock valued at $126,637,000 after buying an additional 590,815 shares in 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.