FirstEnergy (NYSE:FE) Price Target Raised to $45.00 at JPMorgan Chase & Co.

FirstEnergy (NYSE:FE) had its target price upped by stock analysts at JPMorgan Chase & Co. from $43.00 to $45.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 7.12% from the company’s previous close.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company raised their target price on shares of FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Morgan Stanley lowered their target price on FirstEnergy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Mizuho lifted their price target on FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. The Goldman Sachs Group began coverage on FirstEnergy in a research note on Wednesday, April 10th. They set a “buy” rating and a $45.00 price objective for the company. Finally, Barclays boosted their target price on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.42.

FirstEnergy Trading Up 0.7 %

Shares of FirstEnergy stock traded up $0.29 on Wednesday, hitting $42.01. 1,104,367 shares of the company traded hands, compared to its average volume of 2,984,698. FirstEnergy has a 52 week low of $32.18 and a 52 week high of $43.65. The company has a market cap of $24.18 billion, a PE ratio of 24.16, a PEG ratio of 2.69 and a beta of 0.49. The stock’s 50 day moving average price is $39.45 and its 200-day moving average price is $38.49. The company has a current ratio of 0.51, a quick ratio of 0.56 and a debt-to-equity ratio of 1.52.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56. The business had revenue of $3.28 billion during the quarter, compared to analysts’ expectations of $3.47 billion. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. During the same period in the prior year, the business earned $0.47 EPS. Equities research analysts predict that FirstEnergy will post 2.7 EPS for the current year.

Hedge Funds Weigh In On FirstEnergy

A number of large investors have recently bought and sold shares of FE. Sachetta LLC acquired a new position in shares of FirstEnergy during the 4th quarter worth approximately $25,000. FinTrust Capital Advisors LLC lifted its stake in FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 610 shares in the last quarter. ST Germain D J Co. Inc. boosted its holdings in 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 acquiring an additional 615 shares during the period. Scarborough Advisors LLC acquired a new position in FirstEnergy in the 4th quarter valued at about $31,000. Finally, Western Pacific Wealth Management LP purchased a new stake in FirstEnergy during the first quarter worth about $36,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

About FirstEnergy

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.