FirstEnergy Corporation (FE) Lifted to “Buy” at Deutsche Bank AG

FirstEnergy Corporation (NYSE:FE) was upgraded by investment analysts at Deutsche Bank AG from a “hold” rating to a “buy” rating in a research note issued on Tuesday, October 17th, The Fly reports.

Other analysts have also issued reports about the company. Zacks Investment Research lowered FirstEnergy Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th. ValuEngine raised FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. BidaskClub raised FirstEnergy Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 24th. Citigroup Inc. lowered their price target on FirstEnergy Corporation from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 19th. Finally, Morgan Stanley set a $38.00 price target on FirstEnergy Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 4th. Thirteen investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $34.39.

FirstEnergy Corporation (FE) traded up $0.02 during mid-day trading on Tuesday, hitting $32.78. 4,364,059 shares of the company’s stock traded hands, compared to its average volume of 3,806,363. The stock has a market capitalization of $14,569.10, a P/E ratio of 12.00 and a beta of 0.24. FirstEnergy Corporation has a 52-week low of $27.93 and a 52-week high of $34.83. The company has a debt-to-equity ratio of 3.29, a current ratio of 0.69 and a quick ratio of 0.56.

FirstEnergy Corporation (NYSE:FE) last posted its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.97 EPS for the quarter, beating the Zacks’ consensus estimate of $0.86 by $0.11. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.72 billion. FirstEnergy Corporation had a positive return on equity of 19.29% and a negative net margin of 35.99%. During the same period in the previous year, the business earned $0.90 earnings per share. equities analysts forecast that FirstEnergy Corporation will post 3.02 EPS for the current fiscal year.

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Several large investors have recently added to or reduced their stakes in FE. Envestnet Asset Management Inc. boosted its position in shares of FirstEnergy Corporation by 12.2% during the 1st quarter. Envestnet Asset Management Inc. now owns 12,367 shares of the utilities provider’s stock worth $392,000 after acquiring an additional 1,345 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of FirstEnergy Corporation by 222.6% during the 1st quarter. Wellington Management Group LLP now owns 691,033 shares of the utilities provider’s stock worth $21,989,000 after acquiring an additional 476,813 shares in the last quarter. Ngam Advisors L.P. boosted its position in shares of FirstEnergy Corporation by 25.6% during the 1st quarter. Ngam Advisors L.P. now owns 36,675 shares of the utilities provider’s stock worth $1,167,000 after acquiring an additional 7,470 shares in the last quarter. Thrivent Financial For Lutherans boosted its position in shares of FirstEnergy Corporation by 9.0% in the 1st quarter. Thrivent Financial For Lutherans now owns 16,718 shares of the utilities provider’s stock valued at $531,000 after purchasing an additional 1,380 shares during the period. Finally, Loomis Sayles & Co. L P boosted its position in shares of FirstEnergy Corporation by 34.5% in the 1st quarter. Loomis Sayles & Co. L P now owns 9,159 shares of the utilities provider’s stock valued at $291,000 after purchasing an additional 2,351 shares during the period. 80.21% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Corporation Company Profile

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

The Fly

Analyst Recommendations for FirstEnergy Corporation (NYSE:FE)

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