FirstEnergy (NYSE:FE) Price Target Raised to $49.00

Key Points

• Scotiabank raised its target price for FirstEnergy from $46.00 to $49.00, indicating a potential upside of 5.99% from the current stock price.
• Several analysts have upgraded FirstEnergy, with Barclays also setting a target of $49.00 and maintaining an "overweight" rating.
• FirstEnergy reported quarterly earnings of $0.52 per share, exceeding estimates and setting FY 2025 guidance at earnings between $2.400 and $2.600 per share.

FirstEnergy (NYSE:FE - Get Free Report) had its target price upped by equities research analysts at Scotiabank from $46.00 to $49.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the utilities provider's stock. Scotiabank's price objective points to a potential upside of 5.99% from the company's current price.

Other analysts have also recently issued reports about the company. Barclays upgraded FirstEnergy from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $43.00 to $49.00 in a report on Monday, August 25th. Mizuho increased their price objective on shares of FirstEnergy from $43.00 to $45.00 and gave the stock a "neutral" rating in a research report on Friday, August 1st. KeyCorp restated an "overweight" rating and issued a $46.00 target price (down previously from $47.00) on shares of FirstEnergy in a report on Wednesday, July 16th. Morgan Stanley decreased 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. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of FirstEnergy in a research note on Saturday, September 27th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $46.25.

FirstEnergy Trading Up 0.7%

Shares of NYSE:FE traded up $0.30 during midday trading on Monday, hitting $46.23. 389,148 shares of the stock were exchanged, compared to its average volume of 4,706,145. The business's 50-day moving average price is $43.65 and its 200 day moving average price is $41.87. FirstEnergy has a 12 month low of $37.58 and a 12 month high of $46.31. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. The stock has a market capitalization of $26.69 billion, a price-to-earnings ratio of 20.43, a P/E/G ratio of 2.82 and a beta of 0.52.

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

Institutional Investors Weigh In On FirstEnergy

A number of institutional investors and hedge funds have recently made changes to their positions in the business. State of Wyoming bought a new stake in FirstEnergy during the second quarter worth $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of FirstEnergy during the second quarter valued at about $26,000. Investment Research & Advisory Group Inc. purchased a new position in FirstEnergy during the second quarter worth about $26,000. N.E.W. Advisory Services LLC bought a new stake in FirstEnergy in the 1st quarter worth about $27,000. Finally, Capital Advisors Ltd. LLC increased its stake in FirstEnergy by 186.4% in the 2nd quarter. Capital Advisors Ltd. LLC now owns 676 shares of the utilities provider's stock valued at $27,000 after buying an additional 440 shares during the last quarter. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.