FirstEnergy (FE) Lowered to Hold at ValuEngine

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

Several other research analysts also recently issued reports on the stock. Wolfe Research upgraded shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday, January 29th. Bank of America upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $32.09 to $36.00 in a report on Friday, January 26th. Morgan Stanley set a $35.00 price target on shares of FirstEnergy and gave the stock a “buy” rating in a report on Thursday, March 8th. Zacks Investment Research upgraded shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Tuesday, January 23rd. Finally, Wells Fargo upgraded shares of FirstEnergy from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $27.93 to $34.30 in a report on Monday, April 30th. Nine analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. FirstEnergy presently has an average rating of “Buy” and a consensus target price of $35.52.

Shares of FirstEnergy traded down $0.42, hitting $33.25, during trading on Thursday, MarketBeat.com reports. 3,829,790 shares of the company were exchanged, compared to its average volume of 6,787,270. The company has a market capitalization 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. The company has a debt-to-equity ratio of 2.32, a quick ratio of 0.40 and a current ratio of 0.46. FirstEnergy has a 1-year low of $33.42 and a 1-year high of $33.77.

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

A number of institutional investors and hedge funds have recently modified their holdings of FE. Zimmer Partners LP boosted its position in FirstEnergy by 14,693.7% during the first quarter. Zimmer Partners LP now owns 30,127,482 shares of the utilities provider’s stock valued at $1,024,636,000 after acquiring an additional 29,923,831 shares during the last quarter. BlackRock Inc. boosted its position in FirstEnergy by 8.6% during the first quarter. BlackRock Inc. now owns 57,236,789 shares of the utilities provider’s stock valued at $1,946,621,000 after acquiring an additional 4,513,372 shares during the last quarter. Epoch Investment Partners Inc. bought a new stake in FirstEnergy during the first quarter valued at $151,719,000. LSV Asset Management boosted its position in FirstEnergy by 21.0% during the first quarter. LSV Asset Management now owns 18,598,786 shares of the utilities provider’s stock valued at $632,544,000 after acquiring an additional 3,227,655 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its position in FirstEnergy by 46.3% during the fourth quarter. Renaissance Technologies LLC now owns 9,391,408 shares of the utilities provider’s stock valued at $287,565,000 after acquiring an additional 2,972,400 shares during the last quarter. 79.49% of the stock is currently owned by institutional investors and hedge funds.

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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