Brokerages Set FirstEnergy Corp. (NYSE:FE) Price Target at $43.13

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Shares of FirstEnergy Corp. (NYSE:FE) have been assigned an average recommendation of “Buy” from the ten research firms that are currently covering the company, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating on the company. The average 1-year price target among analysts that have updated their coverage on the stock in the last year is $43.13.

FE has been the subject of several research reports. Zacks Investment Research lowered shares of EXACT Sciences from a “hold” rating to a “sell” rating in a report on Tuesday, July 2nd. Bank of America set a $57.00 target price on shares of Lennar and gave the company a “buy” rating in a research note on Thursday, March 28th. Barclays set a €85.00 ($98.84) target price on shares of Bayer and gave the company a “buy” rating in a research note on Wednesday, March 20th. Morgan Stanley reissued an “underweight” rating and set a C$18.00 target price on shares of WestJet Airlines in a research note on Friday, April 5th. Finally, KeyCorp reissued an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a research note on Wednesday, June 5th.

In other news, Director Christopher D. Pappas bought 3,000 shares of FirstEnergy stock in a transaction on Thursday, May 30th. The stock was purchased at an average cost of $41.14 per share, with a total value of $123,420.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

Large investors have recently modified their holdings of the company. Lake Point Wealth Management bought a new stake in shares of FirstEnergy in the 4th quarter worth approximately $25,000. Zions Bancorporation N.A. bought a new stake in shares of FirstEnergy in the 1st quarter worth approximately $30,000. Legacy Advisors LLC bought a new stake in shares of FirstEnergy in the 1st quarter worth approximately $33,000. Destination Wealth Management bought a new stake in shares of FirstEnergy in the 1st quarter worth approximately $35,000. Finally, Tompkins Financial Corp raised its holdings in shares of FirstEnergy by 50.1% in the 1st quarter. Tompkins Financial Corp now owns 1,001 shares of the utilities provider’s stock worth $42,000 after purchasing an additional 334 shares in the last quarter. 93.74% of the stock is owned by institutional investors.

FE opened at $43.77 on Friday. The business has a 50-day moving average of $43.03. The company has a market cap of $23.31 billion, a P/E ratio of 16.90, a P/E/G ratio of 2.82 and a beta of 0.30. FirstEnergy has a 1-year low of $34.30 and a 1-year high of $44.11. The company has a debt-to-equity ratio of 2.72, a current ratio of 0.54 and a quick ratio of 0.47.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.88 billion. FirstEnergy had a return on equity of 21.90% and a net margin of 2.63%. FirstEnergy’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.67 EPS. As a group, sell-side analysts expect that FirstEnergy will post 2.57 earnings per share for the current year.

About FirstEnergy

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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