FirstEnergy (NYSE:FE) Given New $45.00 Price Target at Mizuho

Key Points

• Mizuho raised FirstEnergy's target price from $43.00 to $45.00, indicating a potential upside of 4.20% from the stock's previous close, maintaining a "neutral" rating.
• Other analysts, including Guggenheim and Evercore ISI, have increased their price targets to between $47.00 and $47.00, with overall consensus rating for FirstEnergy's stock at "Hold" and a target price of $46.08.
• In recent trading, FirstEnergy's stock increased by $0.48 to $43.19, with a market cap of $24.93 billion and a price-to-earnings ratio of 19.11, showcasing stable company performance amid fluctuating market conditions.

FirstEnergy (NYSE:FE - Get Free Report) had its target price raised by Mizuho from $43.00 to $45.00 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the utilities provider's stock. Mizuho's price target points to a potential upside of 4.20% from the stock's previous close.

A number of other equities research analysts also recently weighed in on FE. Guggenheim lifted their target price on FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a research report on Monday, April 7th. Wells Fargo & Company lifted their price objective on FirstEnergy from $41.00 to $44.00 and gave the company an "equal weight" rating in a report on Friday, April 25th. Scotiabank reaffirmed an "outperform" rating on shares of FirstEnergy in a report on Friday, April 25th. Evercore ISI lifted their price objective on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a report on Monday, April 28th. Finally, Morgan Stanley decreased their price objective on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a report on Wednesday, June 18th. Nine equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $46.08.

FirstEnergy Stock Performance

Shares of FirstEnergy stock traded up $0.48 during trading on Friday, reaching $43.19. The company's stock had a trading volume of 1,921,904 shares, compared to its average volume of 5,005,074. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.34 and a current ratio of 0.42. The business's fifty day moving average price is $40.70 and its 200-day moving average price is $40.63. The firm has a market cap of $24.93 billion, a price-to-earnings ratio of 19.11, a price-to-earnings-growth ratio of 2.57 and a beta of 0.39. FirstEnergy has a one year low of $37.58 and a one year high of $44.97.

FirstEnergy (NYSE:FE - Get Free Report) last released its earnings results on Wednesday, July 30th. The utilities provider reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.50 by $0.02. FirstEnergy had a return on equity of 11.40% and a net margin of 9.31%. The business had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.45 billion. During the same period last year, the business earned $0.56 earnings per share. As a group, equities research analysts predict that FirstEnergy will post 2.66 earnings per share for the current year.

Insider Buying and Selling at FirstEnergy

In other FirstEnergy news, CAO Jason Lisowski sold 12,000 shares of the company's stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $41.97, for a total transaction of $503,640.00. Following the transaction, the chief accounting officer owned 183 shares of the company's stock, valued at approximately $7,680.51. This represents a 98.50% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jon Taylor K. sold 12,000 shares of the company's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $43.03, for a total value of $516,360.00. Following the transaction, the chief financial officer directly owned 99,919 shares in the company, valued at approximately $4,299,514.57. This represents a 10.72% decrease in their position. The disclosure for this sale can be found here. 0.17% of the stock is currently owned by corporate insiders.

Institutional Trading of FirstEnergy

Several institutional investors and hedge funds have recently made changes to their positions in FE. Brighton Jones LLC bought a new stake in shares of FirstEnergy in the 4th quarter valued at $256,000. LPL Financial LLC increased its position in shares of FirstEnergy by 7.6% in the 4th quarter. LPL Financial LLC now owns 285,578 shares of the utilities provider's stock valued at $11,360,000 after buying an additional 20,071 shares in the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of FirstEnergy in the 4th quarter valued at $218,000. Schroder Investment Management Group increased its position in shares of FirstEnergy by 56.0% in the 4th quarter. Schroder Investment Management Group now owns 48,759 shares of the utilities provider's stock valued at $1,933,000 after buying an additional 17,506 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of FirstEnergy by 4.2% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 35,199 shares of the utilities provider's stock valued at $1,400,000 after buying an additional 1,419 shares in the last quarter. Institutional investors own 89.41% of the company's stock.

FirstEnergy Company Profile

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.

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