FirstEnergy Corporation (NYSE:FE) was upgraded by equities researchers at ValuEngine from a “hold” rating to a “buy” rating in a report issued on Monday.

Several other research firms also recently commented on FE. Deutsche Bank AG reissued a “hold” rating and issued a $34.00 target price (up previously from $31.00) on shares of FirstEnergy Corporation in a report on Monday, July 31st. Jefferies Group LLC reissued a “hold” rating and issued a $33.00 target price (up previously from $31.00) on shares of FirstEnergy Corporation in a report on Monday, July 31st. BidaskClub raised shares of FirstEnergy Corporation from a “sell” rating to a “hold” rating in a report on Monday, July 24th. Mizuho reissued a “neutral” rating and issued a $31.25 target price on shares of FirstEnergy Corporation in a report on Wednesday, April 19th. Finally, Barclays PLC reissued an “equal weight” rating and issued a $38.00 target price (up previously from $35.00) on shares of FirstEnergy Corporation in a report on Sunday, April 23rd. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and five have given a buy rating to the company. FirstEnergy Corporation presently has a consensus rating of “Hold” and a consensus price target of $33.63.

FirstEnergy Corporation (FE) opened at 31.95 on Monday. The company’s market cap is $14.20 billion. The stock has a 50 day moving average of $30.30 and a 200-day moving average of $30.31. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.96.

FirstEnergy Corporation (NYSE:FE) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting the consensus estimate of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The firm had revenue of $3.30 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the firm earned $0.56 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts predict that FirstEnergy Corporation will post $2.81 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. boosted its position in FirstEnergy Corporation by 4,036.6% in the first quarter. BlackRock Inc. now owns 38,676,251 shares of the utilities provider’s stock worth $1,230,678,000 after buying an additional 37,741,283 shares during the period. Bank of New York Mellon Corp boosted its position in FirstEnergy Corporation by 90.8% in the first quarter. Bank of New York Mellon Corp now owns 10,801,367 shares of the utilities provider’s stock worth $343,698,000 after buying an additional 5,141,450 shares during the period. Vanguard Group Inc. boosted its position in FirstEnergy Corporation by 7.1% in the first quarter. Vanguard Group Inc. now owns 35,965,731 shares of the utilities provider’s stock worth $1,144,430,000 after buying an additional 2,378,538 shares during the period. Prudential Financial Inc. boosted its position in FirstEnergy Corporation by 73.2% in the first quarter. Prudential Financial Inc. now owns 5,096,548 shares of the utilities provider’s stock worth $162,172,000 after buying an additional 2,154,657 shares during the period. Finally, Bank of America Corp DE boosted its position in FirstEnergy Corporation by 54.8% in the first quarter. Bank of America Corp DE now owns 4,423,238 shares of the utilities provider’s stock worth $140,747,000 after buying an additional 1,566,627 shares during the period. Institutional investors and hedge funds own 78.11% of the company’s stock.

About FirstEnergy Corporation

FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.

Analyst Recommendations for FirstEnergy Corporation (NYSE:FE)

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