KeyCorp Increases FirstEnergy (NYSE:FE) Price Target to $46.00

FirstEnergy (NYSE:FE) had its target price upped by equities researchers at KeyCorp from $45.00 to $46.00 in a research note issued to investors on Monday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective would indicate a potential upside of 3.44% from the stock’s previous close.

Several other research firms have also issued reports on FE. Morgan Stanley lifted their price target on shares of FirstEnergy from $45.00 to $48.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Wells Fargo & Company lifted their price target on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. Scotiabank lifted their price target on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America lifted their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Finally, Barclays lifted their price target on shares of FirstEnergy from $39.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $43.60.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $44.47 on Monday. FirstEnergy has a 12 month low of $32.18 and a 12 month high of $44.97. The stock has a market cap of $25.59 billion, a price-to-earnings ratio of 25.56, a PEG ratio of 2.32 and a beta of 0.50. The stock’s 50 day moving average price is $42.03 and its 200 day moving average price is $39.78. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.51 and a quick ratio of 0.43.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, hitting the consensus estimate of $0.56. FirstEnergy had a return on equity of 12.12% and a net margin of 6.61%. The firm had revenue of $3.28 billion for the quarter, compared to analysts’ expectations of $3.47 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. Equities research analysts anticipate that FirstEnergy will post 2.7 earnings per share for the current fiscal year.

Hedge Funds Weigh In On FirstEnergy

A number of hedge funds have recently modified their holdings of FE. Principal Securities Inc. acquired a new position in shares of FirstEnergy in the fourth quarter worth $101,000. Vanguard Personalized Indexing Management LLC increased its stake in shares of FirstEnergy by 9.3% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 27,567 shares of the utilities provider’s stock worth $1,011,000 after acquiring an additional 2,352 shares during the last quarter. Janney Montgomery Scott LLC increased its stake in shares of FirstEnergy by 3.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 100,318 shares of the utilities provider’s stock worth $3,678,000 after acquiring an additional 3,323 shares during the last quarter. Quadrant Capital Group LLC increased its stake in shares of FirstEnergy by 74.6% in the fourth quarter. Quadrant Capital Group LLC now owns 2,973 shares of the utilities provider’s stock worth $109,000 after acquiring an additional 1,270 shares during the last quarter. Finally, Beacon Pointe Advisors LLC increased its stake in shares of FirstEnergy by 1.0% in the fourth quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider’s stock worth $1,358,000 after acquiring an additional 376 shares during the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

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.