FirstEnergy (NYSE:FE) Stock Price Expected to Rise, Scotiabank Analyst Says

Key Points

• Scotiabank has raised its price target for FirstEnergy stock from $49.00 to $51.00, indicating a potential upside of 8.98% from the current price.
• FirstEnergy reported earnings of $0.83 per share, surpassing analyst expectations; the company also recorded a 10.8% increase in quarterly revenue year-over-year.
• Seven investment analysts rated FirstEnergy as a Buy, while eight analysts have a Hold rating, reflecting a generally positive outlook on the stock.

FirstEnergy (NYSE:FE - Get Free Report) had its price objective hoisted by analysts at Scotiabank from $49.00 to $51.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "sector outperform" rating on the utilities provider's stock. Scotiabank's price target would suggest a potential upside of 8.98% from the company's current price.

Several other equities research analysts have also weighed in on FE. Morgan Stanley increased their price objective on shares of FirstEnergy from $47.00 to $50.00 and gave the stock an "overweight" rating in a research note on Tuesday. Weiss Ratings reiterated a "buy (b)" rating on shares of FirstEnergy in a research note on Wednesday, October 8th. Jefferies Financial Group upped their target price on shares of FirstEnergy from $45.00 to $47.00 and gave the stock a "hold" rating in a research report on Tuesday. Barclays upgraded shares of FirstEnergy from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $43.00 to $49.00 in a research report on Monday, August 25th. Finally, KeyCorp cut shares of FirstEnergy from an "overweight" rating to a "sector weight" rating in a research report on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $48.25.

FirstEnergy Stock Up 0.6%

Shares of FirstEnergy stock traded up $0.28 during trading on Friday, reaching $46.80. The company had a trading volume of 4,875,384 shares, compared to its average volume of 4,761,429. The company has a market cap of $27.02 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 3.20 and a beta of 0.52. The firm's fifty day moving average is $44.74 and its 200-day moving average is $42.55. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.51 and a current ratio of 0.61. FirstEnergy has a fifty-two week low of $37.58 and a fifty-two week high of $48.20.

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 for the quarter, topping the consensus estimate of $0.76 by $0.07. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $3.94 billion. FirstEnergy had a net margin of 9.19% and a return on equity of 11.20%. FirstEnergy's quarterly revenue was up 10.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.85 earnings per share. FirstEnergy has set its FY 2025 guidance at 2.500-2.560 EPS. On average, analysts anticipate that FirstEnergy will post 2.66 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. State of Wyoming bought a new position in shares of FirstEnergy in the second quarter valued at approximately $25,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of FirstEnergy in the second quarter valued at approximately $26,000. Investment Research & Advisory Group Inc. bought a new position in shares of FirstEnergy in the second quarter valued at approximately $26,000. N.E.W. Advisory Services LLC bought a new position in shares of FirstEnergy in the first quarter valued at approximately $27,000. Finally, Capital Advisors Ltd. LLC boosted its holdings in shares of FirstEnergy by 186.4% in 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. 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.

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