FirstEnergy (NYSE:FE) Price Target Lowered to $41.00 at Wells Fargo & Company

FirstEnergy (NYSE:FE) had its price objective dropped by Wells Fargo & Company from $48.00 to $41.00 in a report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would indicate a potential upside of 7.37% from the company’s current price.

Several other research analysts also recently commented on the company. KeyCorp decreased their price objective on FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a report on Wednesday, December 4th. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Morgan Stanley dropped their target price on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating for the company in a report on Friday, November 22nd. Finally, Scotiabank raised FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $45.00 to $50.00 in a research note on Thursday, December 12th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $45.83.

FirstEnergy Price Performance

NYSE FE traded down $0.35 during trading hours on Friday, reaching $38.19. 4,788,570 shares of the stock traded hands, compared to its average volume of 4,563,676. The stock has a 50 day simple moving average of $40.09 and a two-hundred day simple moving average of $41.77. The company has a market cap of $22.01 billion, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 2.07 and a beta of 0.52. FirstEnergy has a 1 year low of $36.01 and a 1 year high of $44.97. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Wednesday, February 26th. The utilities provider reported $0.67 EPS for the quarter, missing the consensus estimate of $0.70 by ($0.03). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.53 billion. On average, analysts predict that FirstEnergy will post 2.66 EPS for the current fiscal year.

Hedge Funds Weigh In On FirstEnergy

A number of hedge funds have recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $4,253,000. Bernard Wealth Management Corp. bought a new position in FirstEnergy in the 4th quarter valued at approximately $33,000. Ascent Group LLC increased its holdings in shares of FirstEnergy by 2.5% in the 4th quarter. Ascent Group LLC now owns 39,823 shares of the utilities provider’s stock worth $1,584,000 after purchasing an additional 958 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of FirstEnergy by 4.3% in the 4th quarter. Mackenzie Financial Corp now owns 215,956 shares of the utilities provider’s stock worth $8,591,000 after purchasing an additional 8,871 shares in the last quarter. Finally, Vise Technologies Inc. purchased a new position in shares of FirstEnergy in the fourth quarter worth $206,000. Institutional investors own 89.41% of the company’s stock.

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.