FirstEnergy (NYSE:FE) Price Target Raised to $46.00 at JPMorgan Chase & Co.

FirstEnergy (NYSE:FE) had its target price upped by research analysts at JPMorgan Chase & Co. from $45.00 to $46.00 in a research report issued on Friday, Benzinga reports. The firm currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 5.24% from the company’s current price.

Several other research firms have also commented on FE. Bank of America boosted their price objective on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Morgan Stanley upped their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research note on Monday. They set a “hold” rating and a $46.00 price objective for the company. Wells Fargo & Company upped their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target for the company in a research report on Friday, September 20th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $45.91.

FirstEnergy Stock Performance

Shares of NYSE FE traded up $0.22 during midday trading on Friday, reaching $43.71. 571,110 shares of the company were exchanged, compared to its average volume of 2,927,782. The stock has a fifty day simple moving average of $43.50 and a 200 day simple moving average of $40.69. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. The stock has a market cap of $25.16 billion, a P/E ratio of 25.11, a PEG ratio of 2.24 and a beta of 0.50. FirstEnergy has a 1 year low of $34.73 and a 1 year high of $44.97.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.56. The company had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same period last year, the company posted $0.47 earnings per share. On average, research analysts forecast that FirstEnergy will post 2.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FirstEnergy

Several large investors have recently added to or reduced their stakes in the business. FinTrust Capital Advisors LLC increased its stake in shares of FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 610 shares during the last quarter. ST Germain D J Co. Inc. grew its stake in shares of FirstEnergy by 1,138.9% during the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock valued at $26,000 after buying an additional 615 shares during the period. Strategic Investment Solutions Inc. IL purchased a new position in shares of FirstEnergy in the 2nd quarter worth $32,000. Sachetta LLC boosted its holdings in FirstEnergy by 36.0% in the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 246 shares during the last quarter. Finally, Western Pacific Wealth Management LP purchased a new stake in FirstEnergy during the first quarter valued at about $36,000. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

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.