KeyCorp Has Lowered Expectations for FirstEnergy (NYSE:FE) Stock Price

FirstEnergy (NYSE:FE) had its target price lowered by investment analysts at KeyCorp from $48.00 to $47.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s target price points to a potential upside of 13.88% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the stock. Argus raised shares of 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. Jefferies Financial Group began coverage on shares of FirstEnergy in a report on Monday, October 14th. They set a “hold” rating and a $46.00 target price for the company. Seaport Res Ptn downgraded FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Scotiabank lifted their price objective on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $45.82.

FirstEnergy Trading Down 0.3 %

Shares of NYSE:FE traded down $0.13 on Wednesday, reaching $41.27. 88,874 shares of the company traded hands, compared to its average volume of 2,913,044. The stock has a market capitalization of $23.78 billion, a P/E ratio of 26.74, a price-to-earnings-growth ratio of 2.25 and a beta of 0.51. The business’s 50-day simple moving average is $42.65 and its 200 day simple moving average is $41.56. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy has a 52 week low of $35.41 and a 52 week high of $44.97.

FirstEnergy (NYSE:FE) last posted its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. FirstEnergy’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share. As a group, equities analysts anticipate that FirstEnergy will post 2.67 EPS for the current fiscal year.

Institutional Investors Weigh In On FirstEnergy

Several hedge funds have recently bought and sold shares of FE. Livelsberger Financial Advisory bought a new stake in FirstEnergy in the third quarter worth $26,000. True Wealth Design LLC raised its position in shares of FirstEnergy by 4,571.4% in the 3rd quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 640 shares during the last quarter. Strategic Investment Solutions Inc. IL bought a new position in FirstEnergy in the 2nd quarter worth about $32,000. Quarry LP grew its position in FirstEnergy by 59.1% during the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 320 shares during the last quarter. Finally, Sachetta LLC increased its stake in FirstEnergy by 36.0% during the 2nd quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 246 shares in the last quarter. Institutional investors 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.