FirstEnergy (NYSE:FE) Now Covered by Citigroup

Key Points

• Citigroup has initiated coverage on FirstEnergy (NYSE:FE) with a "buy" rating and a price target of $53.00, suggesting a potential upside of 12.61% from its previous close.
• FirstEnergy reported an earnings per share (EPS) of $0.52 for the last quarter, exceeding analysts' expectations, although its revenue fell short at $3.40 billion.
• The consensus rating for FirstEnergy among analysts is a "Moderate Buy," with an average target price of approximately $46.77 following various adjustments by different firms.

Equities research analysts at Citigroup initiated coverage on shares of FirstEnergy (NYSE:FE - Get Free Report) in a research note issued to investors on Tuesday, Marketbeat Ratings reports. The brokerage set a "buy" rating and a $53.00 price target on the utilities provider's stock. Citigroup's price objective would indicate a potential upside of 12.61% from the company's previous close.

Several other analysts also recently commented on the company. KeyCorp reissued an "overweight" rating and issued a $46.00 price objective (down from $47.00) on shares of FirstEnergy in a research note on Wednesday, July 16th. UBS Group set a $44.00 price objective on FirstEnergy and gave the company a "neutral" rating in a report on Tuesday, June 24th. Scotiabank reissued an "outperform" rating on shares of FirstEnergy in a report on Wednesday. Barclays raised FirstEnergy from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $43.00 to $49.00 in a report on Monday, August 25th. Finally, Morgan Stanley cut their price target on FirstEnergy from $48.00 to $47.00 and set an "overweight" rating for the company in a report on Thursday, September 25th. Eight equities research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $46.77.

FirstEnergy Price Performance

Shares of FE traded up $0.39 during midday trading on Tuesday, hitting $47.07. The company's stock had a trading volume of 542,653 shares, compared to its average volume of 4,714,318. The stock has a market capitalization of $27.18 billion, a price-to-earnings ratio of 20.80, a price-to-earnings-growth ratio of 2.85 and a beta of 0.52. FirstEnergy has a one year low of $37.58 and a one year high of $47.35. The company has a quick ratio of 0.51, a current ratio of 0.61 and a debt-to-equity ratio of 1.68. The company's fifty day simple moving average is $43.94 and its two-hundred day simple moving average is $41.98.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The utilities provider reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.02. FirstEnergy had a return on equity of 11.31% and a net margin of 9.31%.The firm had revenue of $3.40 billion for the quarter, compared to analyst estimates of $3.45 billion. During the same quarter in the previous year, the company posted $0.56 EPS. FirstEnergy has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities analysts expect that FirstEnergy will post 2.66 earnings per share for the current fiscal year.

Institutional Trading of FirstEnergy

Large investors have recently bought and sold shares of the company. Brighton Jones LLC bought a new stake in shares of FirstEnergy in the 4th quarter worth approximately $256,000. UMB Bank n.a. boosted its position in shares of FirstEnergy by 40.9% in the 1st quarter. UMB Bank n.a. now owns 1,284 shares of the utilities provider's stock worth $52,000 after purchasing an additional 373 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in FirstEnergy by 165.7% in the 1st quarter. Farther Finance Advisors LLC now owns 9,424 shares of the utilities provider's stock worth $381,000 after acquiring an additional 5,877 shares during the last quarter. Yousif Capital Management LLC raised its holdings in FirstEnergy by 1.1% in the 1st quarter. Yousif Capital Management LLC now owns 95,134 shares of the utilities provider's stock worth $3,845,000 after acquiring an additional 1,074 shares during the last quarter. Finally, CX Institutional purchased a new position in FirstEnergy in the 1st quarter worth approximately $174,000. 89.41% of the stock is 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.

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