UBS Group Raises FirstEnergy (NYSE:FE) Price Target to $43.00

FirstEnergy (NYSE:FE) had its price target boosted by stock analysts at UBS Group from $41.00 to $43.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. UBS Group’s price target would suggest a potential upside of 8.64% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. KeyCorp dropped their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley reduced their price objective on FirstEnergy from $52.00 to $48.00 and set an “overweight” rating for the company in a report on Thursday. Wolfe Research downgraded FirstEnergy from an “outperform” rating to a “peer perform” rating in a research report on Thursday, January 23rd. Scotiabank decreased their price objective on FirstEnergy from $50.00 to $44.00 and set a “sector outperform” rating on the stock in a report on Friday, February 28th. Finally, Guggenheim lowered their price objective on FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.00.

FirstEnergy Stock Down 0.6 %

FE traded down $0.23 on Friday, hitting $39.58. 1,213,232 shares of the company were exchanged, compared to its average volume of 3,094,625. The stock’s fifty day moving average is $39.93 and its 200-day moving average is $41.37. FirstEnergy has a 12 month low of $36.81 and a 12 month high of $44.97. The company has a debt-to-equity ratio of 1.58, a quick ratio of 0.46 and a current ratio of 0.56. The company has a market cap of $22.83 billion, a PE ratio of 25.53, a PEG ratio of 2.07 and a beta of 0.48.

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

Institutional Investors Weigh In On FirstEnergy

A number of institutional investors have recently modified their holdings of FE. Wedge Capital Management L L P NC bought a new stake in FirstEnergy during the fourth quarter valued at $12,198,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of FirstEnergy by 7.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,346,263 shares of the utilities provider’s stock valued at $104,057,000 after purchasing an additional 171,955 shares in the last quarter. DRW Securities LLC acquired a new stake in FirstEnergy during the third quarter worth approximately $1,154,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in FirstEnergy by 41.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 47,956 shares of the utilities provider’s stock valued at $1,902,000 after buying an additional 14,129 shares during the period. Finally, Whalen Wealth Management Inc. bought a new position in shares of FirstEnergy during the 4th quarter worth approximately $664,000. 89.41% of the stock is owned by 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.