FirstEnergy's (FE) "Overweight" Rating Reaffirmed at KeyCorp

FirstEnergy (NYSE:FE - Get Free Report)'s stock had its "overweight" rating reissued by investment analysts at KeyCorp in a research report issued on Wednesday, MarketBeat Ratings reports. They currently have a $46.00 price target on the utilities provider's stock, down from their previous price target of $47.00. KeyCorp's price target would suggest a potential upside of 13.37% from the company's previous close.

FE has been the topic of a number of other reports. Bank of America raised FirstEnergy from an "underperform" rating to a "neutral" rating and lifted their target price for the stock from $42.00 to $45.00 in a report on Wednesday, April 23rd. Morgan Stanley lowered their price objective on shares of FirstEnergy from $48.00 to $47.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 18th. Guggenheim raised their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "buy" rating in a report on Monday, April 7th. Mizuho set a $43.00 price objective on FirstEnergy in a research report on Monday, April 28th. Finally, Evercore ISI increased their price target on FirstEnergy from $41.00 to $47.00 and gave the company an "outperform" rating in a research report on Monday, April 28th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $45.92.

FirstEnergy Stock Up 0.7%

FE traded up $0.28 during trading on Wednesday, hitting $40.58. The company had a trading volume of 3,283,519 shares, compared to its average volume of 4,023,245. FirstEnergy has a 1-year low of $37.58 and a 1-year high of $44.97. The company has a debt-to-equity ratio of 1.53, a current ratio of 0.42 and a quick ratio of 0.34. The company has a market cap of $23.42 billion, a PE ratio of 21.58, a P/E/G ratio of 2.49 and a beta of 0.39. The business has a 50-day moving average of $40.85 and a 200-day moving average of $40.48.

FirstEnergy (NYSE:FE - Get Free Report) last posted its quarterly earnings results on Wednesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.07. The business had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.68 billion. FirstEnergy had a return on equity of 11.49% and a net margin of 7.78%. The business's revenue was up 14.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.55 EPS. As a group, analysts forecast that FirstEnergy will post 2.66 earnings per share for the current year.

Insider Activity at FirstEnergy

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

Institutional Investors Weigh In On FirstEnergy

A number of large investors have recently bought and sold shares of FE. Dakota Wealth Management grew its holdings in FirstEnergy by 3.4% during the first quarter. Dakota Wealth Management now owns 7,633 shares of the utilities provider's stock valued at $309,000 after purchasing an additional 249 shares during the last quarter. Covestor Ltd boosted its holdings in shares of FirstEnergy by 69.3% during the 4th quarter. Covestor Ltd now owns 623 shares of the utilities provider's stock worth $25,000 after buying an additional 255 shares during the period. Kovitz Investment Group Partners LLC grew its stake in FirstEnergy by 2.4% in the 1st quarter. Kovitz Investment Group Partners LLC now owns 10,807 shares of the utilities provider's stock valued at $437,000 after buying an additional 255 shares during the last quarter. Equitable Trust Co. grew its stake in FirstEnergy by 1.2% in the 1st quarter. Equitable Trust Co. now owns 22,677 shares of the utilities provider's stock valued at $917,000 after buying an additional 266 shares during the last quarter. Finally, Focus Partners Wealth raised its holdings in FirstEnergy by 1.4% in the 4th quarter. Focus Partners Wealth now owns 19,838 shares of the utilities provider's stock worth $835,000 after acquiring an additional 272 shares during the period. 89.41% of the stock is currently owned by institutional investors.

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.