FirstEnergy (NYSE:FE) Price Target Raised to $50.00

Key Points

• Mizuho raised FirstEnergy's price target from $45.00 to $50.00, indicating a potential upside of 7.36% from the previous close.
• Citigroup issued a "buy" rating with a price target of $53.00, while Jefferies and Barclays also set their price objectives at $47.00 and $49.00, respectively.
• FirstEnergy reported an earnings per share of $0.83 for the last quarter, exceeding estimates and showing a 10.8% revenue increase compared to the previous year.

FirstEnergy (NYSE:FE - Get Free Report) had its price target hoisted by equities researchers at Mizuho from $45.00 to $50.00 in a research note issued to investors on Friday, Marketbeat Ratings reports. The brokerage presently has a "neutral" rating on the utilities provider's stock. Mizuho's price target indicates a potential upside of 7.36% from the company's previous close.

Other analysts have also issued reports about the company. Citigroup started coverage on FirstEnergy in a report on Tuesday, October 7th. They issued a "buy" rating and a $53.00 price objective for the company. Jefferies Financial Group increased their price objective on shares of FirstEnergy from $45.00 to $47.00 and gave the company a "hold" rating in a research note on Tuesday. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. Weiss Ratings reiterated a "buy (b)" rating on shares of FirstEnergy in a report on Wednesday, October 8th. Finally, Scotiabank reiterated an "outperform" rating on shares of FirstEnergy in a report on Wednesday, October 8th. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $48.08.

FirstEnergy Stock Performance

FE stock traded up $0.05 during trading on Friday, hitting $46.57. The company had a trading volume of 251,363 shares, compared to its average volume of 4,738,076. FirstEnergy has a 1-year low of $37.58 and a 1-year high of $48.20. The firm has a market cap of $26.89 billion, a PE ratio of 20.32, a price-to-earnings-growth ratio of 3.20 and a beta of 0.52. 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 firm has a 50-day moving average price of $44.74 and a 200-day moving average price of $42.55.

FirstEnergy (NYSE:FE - Get Free Report) last released its quarterly earnings data on Wednesday, October 22nd. The utilities provider reported $0.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.10 billion during the quarter, compared to analysts' expectations of $3.94 billion. FirstEnergy had a return on equity of 11.20% and a net margin of 9.19%.FirstEnergy's revenue was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. On average, analysts expect that FirstEnergy will post 2.66 earnings per share for the current year.

Institutional Inflows and Outflows

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