FirstEnergy (NYSE:FE) Stock Picked Up by Analysts at BMO Capital Markets

Key Points

• BMO Capital Markets initiated coverage of FirstEnergy with an “outperform” rating and a $50 price target, implying 8.38% upside from the previous close.
• Analyst sentiment is broadly positive: FirstEnergy has a consensus “Moderate Buy” rating and an average price target of $50.77, supported by Buy and Strong Buy recommendations from several firms.
• FirstEnergy reported quarterly EPS of $0.50, matching estimates, while revenue of $3.68 billion exceeded the $3.51 billion forecast. Institutional investors own approximately 89.41% of the company’s shares.

Research analysts at BMO Capital Markets began coverage on shares of FirstEnergy (NYSE:FE - Get Free Report) in a report released on Monday, Marketbeat.com reports. The brokerage set an "outperform" rating and a $50.00 price target on the utilities provider's stock. BMO Capital Markets's price target points to a potential upside of 8.38% from the company's previous close.

A number of other research firms have also weighed in on FE. HSBC initiated coverage on shares of FirstEnergy in a research note on Thursday, October 22nd. They issued a "buy" rating and a $50.00 price objective for the company. Mizuho set a $47.00 price target on FirstEnergy in a research note on Monday, October 12th. Morgan Stanley increased their price target on FirstEnergy from $49.00 to $50.00 and gave the company an "overweight" rating in a research note on Wednesday, October 21st. New Street Research set a $47.00 price target on FirstEnergy in a report on Tuesday, October 13th. Finally, Wall Street Zen raised FirstEnergy from a "sell" rating to a "hold" rating in a research note on Saturday, September 19th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $50.77.

FirstEnergy Stock Down 0.0%

FE stock opened at $46.13 on Monday. The business's 50-day moving average is $45.50 and its two-hundred day moving average is $47.45. FirstEnergy has a fifty-two week low of $42.67 and a fifty-two week high of $52.34. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54. The company has a market cap of $26.69 billion, a price-to-earnings ratio of 24.54, a P/E/G ratio of 2.71 and a beta of 0.43.

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

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in FE. Axiom Investment Management LLC bought a new stake in FirstEnergy during the first quarter worth approximately $26,000. Western Wealth Management LLC purchased a new position in FirstEnergy during the first quarter worth $37,000. Highland Investment Advisors LLC bought a new position in FirstEnergy during the second quarter valued at $35,000. Pinnacle Bancorp Inc. lifted its holdings in shares of FirstEnergy by 44.4% in the 1st quarter. Pinnacle Bancorp Inc. now owns 754 shares of the utilities provider's stock worth $38,000 after acquiring an additional 232 shares during the last quarter. Finally, Ascentis Independent Advisors bought a new stake in shares of FirstEnergy in the 1st quarter worth about $46,000. Institutional investors own 89.41% of the company's stock.

About FirstEnergy

FirstEnergy Corp. NYSE: FE is an electric utility company focused on the transmission and distribution of electricity. Through its regulated utility subsidiaries, the company delivers power to residential, commercial and industrial customers and maintains the poles, lines, substations and other infrastructure that support electric service.

FirstEnergy's distribution operations serve customers across parts of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. Its utility companies include Ohio Edison, The Illuminating Company, Toledo Edison, Jersey Central Power & Light, Met-Ed, Penelec, Penn Power, West Penn Power, Mon Power and The Potomac Edison Company.