FirstEnergy (NYSE:FE) Rating Lowered to "Sell" at Wall Street Zen

Key Points

• Wall Street Zen downgraded FirstEnergy from “hold” to “sell,” despite the broader analyst consensus remaining “Moderate Buy” with seven Buy ratings, six Hold ratings, and a $52.83 average price target.
• FirstEnergy shares were trading at $46.77, down 0.6%, with the stock below both its 50-day and 200-day moving averages. The company has a $27.06 billion market capitalization and a P/E ratio of 24.88.
• FirstEnergy reported quarterly earnings of $0.50 per share, matching estimates, while revenue of $3.68 billion exceeded forecasts of $3.51 billion. Institutional investors own 89.41% of the company’s stock.

FirstEnergy (NYSE:FE - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a report issued on Saturday, Wall Street Zen reports.

FE has been the topic of a number of other research reports. Weiss Ratings lowered shares of FirstEnergy from a "buy (b)" rating to a "buy (b-)" rating in a report on Wednesday, June 17th. UBS Group upped their price target on FirstEnergy from $50.00 to $51.00 and gave the stock a "neutral" rating in a research note on Thursday, June 11th. Morgan Stanley cut their price objective on FirstEnergy from $53.00 to $52.00 and set an "overweight" rating on the stock in a report on Friday, August 21st. TD Cowen raised FirstEnergy from a "hold" rating to a "buy" rating and reduced their price objective for the company from $56.00 to $53.00 in a research note on Friday, May 15th. Finally, Barclays decreased their target price on FirstEnergy from $55.00 to $54.00 and set an "overweight" rating for the company in a report on Friday, July 31st. Seven analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $52.83.

FirstEnergy Trading Down 0.6%

NYSE FE opened at $46.77 on Friday. FirstEnergy has a 12 month low of $42.87 and a 12 month high of $52.34. The company has a 50-day moving average of $47.75 and a 200-day moving average of $48.23. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45. The company has a market cap of $27.06 billion, a P/E ratio of 24.88, a P/E/G ratio of 2.71 and a beta of 0.45.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share for the quarter, hitting the consensus estimate of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same period in the prior year, the firm posted $0.52 EPS. As a group, equities analysts predict that FirstEnergy will post 2.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming purchased a new stake in shares of FirstEnergy during the 2nd quarter valued at about $25,000. Axiom Investment Management LLC purchased a new position in FirstEnergy in the 1st quarter worth approximately $26,000. DV Equities LLC purchased a new position in FirstEnergy in the 4th quarter worth approximately $33,000. Highland Investment Advisors LLC acquired a new stake in FirstEnergy in the second quarter valued at approximately $35,000. Finally, Summit Securities Group LLC grew its position in FirstEnergy by 148.0% in the fourth quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 2,376 shares in the last quarter. Institutional investors and hedge funds own 89.41% of the company's stock.

About FirstEnergy

FirstEnergy Corp. NYSE: FE is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company's primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy's service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy's core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.

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