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

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

Other analysts also recently issued reports about the company. The Goldman Sachs Group initiated coverage on FirstEnergy in a report on Wednesday, April 10th. They set a “buy” rating and a $45.00 price target for the company. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, April 29th. Bank of America boosted their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research report on Tuesday, April 23rd. Morgan Stanley reduced their price target on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating for the company in a report on Monday, June 24th. Finally, Scotiabank decreased their price target on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $41.42.

FirstEnergy Price Performance

Shares of FE traded up $0.29 during mid-day trading on Wednesday, reaching $42.01. The company had a trading volume of 1,104,367 shares, compared to its average volume of 2,984,698. FirstEnergy has a 1-year low of $32.18 and a 1-year high of $43.65. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.56 and a current ratio of 0.51. The company has a market capitalization of $24.18 billion, a price-to-earnings ratio of 24.16, a P/E/G ratio of 2.69 and a beta of 0.49. The company’s 50 day simple moving average is $39.45 and its 200 day simple moving average is $38.49.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The firm had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.47 billion. During the same period in the previous year, the business earned $0.47 EPS. Analysts expect that FirstEnergy will post 2.7 EPS for the current year.

Institutional Investors Weigh In On FirstEnergy

Several institutional investors have recently bought and sold shares of the stock. Sachetta LLC purchased a new stake in shares of FirstEnergy during the fourth quarter valued at approximately $25,000. FinTrust Capital Advisors LLC grew its position 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 during the last quarter. ST Germain D J Co. Inc. increased 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 purchasing an additional 615 shares during the period. Scarborough Advisors LLC purchased a new position in FirstEnergy during the 4th quarter valued at $31,000. Finally, Western Pacific Wealth Management LP purchased a new position in shares of FirstEnergy during the first quarter valued at about $36,000. 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.