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

FirstEnergy (NYSE:FE) had its price objective decreased by equities researchers at Wells Fargo & Company from $48.00 to $41.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has an “equal weight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 5.70% from the stock’s previous close.

Several other research analysts have also recently weighed in on the stock. Guggenheim cut their price target on shares of FirstEnergy from $52.00 to $45.00 and set a “buy” rating on the stock in a report on Friday. Scotiabank upgraded shares of FirstEnergy from a “sector perform” rating to a “sector outperform” rating and boosted their price target for the stock from $45.00 to $50.00 in a report on Thursday, December 12th. Morgan Stanley cut their price target on shares of FirstEnergy from $52.00 to $50.00 and set an “overweight” rating on the stock in a report on Friday, November 22nd. Seaport Res Ptn cut shares of FirstEnergy from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, Wolfe Research cut shares of FirstEnergy from an “outperform” rating to a “peer perform” rating in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $45.33.

FirstEnergy Stock Up 0.6 %

Shares of NYSE FE opened at $38.79 on Friday. The stock has a market capitalization of $22.36 billion, a P/E ratio of 25.03, a P/E/G ratio of 2.07 and a beta of 0.52. The company has a 50-day moving average price of $40.07 and a 200-day moving average price of $41.74. 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 issued 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 business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.53 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. On average, equities research analysts forecast that FirstEnergy will post 2.66 EPS for the current fiscal year.

Institutional Trading of FirstEnergy

Several hedge funds have recently added to or reduced their stakes in FE. Covestor Ltd raised its position in shares of FirstEnergy by 69.3% in the fourth quarter. Covestor Ltd now owns 623 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 255 shares during the period. Kestra Investment Management LLC bought a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $26,000. Lee Danner & Bass Inc. bought a new stake in shares of FirstEnergy in the fourth quarter valued at approximately $26,000. True Wealth Design LLC raised its position in shares of FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 640 shares during the period. Finally, WASHINGTON TRUST Co raised its position in shares of FirstEnergy by 293.0% in the fourth quarter. WASHINGTON TRUST Co now owns 786 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 586 shares during the period. 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.