FirstEnergy (NYSE:FE) was downgraded by Mizuho from a “buy” rating to a “neutral” rating in a research report issued on Friday, September 20th, MarketBeat Ratings reports. They presently have a $48.50 price objective on the utilities provider’s stock, up from their prior price objective of $48.00. Mizuho’s price objective would suggest a potential upside of 1.27% from the stock’s previous close.
A number of other equities analysts have also recently issued reports on FE. Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price for the company. in a research report on Tuesday, July 2nd. KeyCorp reiterated an “overweight” rating and set a $46.00 price target on shares of FirstEnergy in a report on Wednesday, June 5th. Finally, TheStreet downgraded shares of FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $45.92.
Shares of NYSE:FE traded down $0.01 during midday trading on Friday, hitting $47.89. The stock had a trading volume of 2,494,158 shares, compared to its average volume of 3,686,052. The company has a current ratio of 0.60, a quick ratio of 0.53 and a debt-to-equity ratio of 2.63. FirstEnergy has a 1 year low of $35.33 and a 1 year high of $49.07. The stock has a 50 day moving average price of $47.16 and a two-hundred day moving average price of $43.80. The company has a market capitalization of $25.82 billion, a PE ratio of 18.49, a P/E/G ratio of 3.19 and a beta of 0.21.
FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Tuesday, July 23rd. The utilities provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.66 billion. During the same quarter last year, the business earned $0.62 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. As a group, equities analysts expect that FirstEnergy will post 2.5 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pearl River Capital LLC acquired a new stake in FirstEnergy in the second quarter valued at $25,000. Clean Yield Group raised its holdings in FirstEnergy by 1,184.0% in the second quarter. Clean Yield Group now owns 642 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 592 shares in the last quarter. Horan Securities Inc. acquired a new stake in FirstEnergy in the second quarter valued at $28,000. Meeder Asset Management Inc. raised its holdings in FirstEnergy by 805.3% in the second quarter. Meeder Asset Management Inc. now owns 679 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 604 shares in the last quarter. Finally, Zions Bancorporation N.A. acquired a new stake in FirstEnergy in the first quarter valued at $30,000. 94.12% of the stock is currently owned by institutional investors and hedge funds.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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