FirstEnergy Corporation (NYSE:FE) received a $39.00 price target from equities researchers at Morgan Stanley in a research report issued to clients and investors on Thursday. The firm presently has a “buy” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 21.72% from the stock’s previous close.

FE has been the topic of a number of other research reports. BidaskClub lowered shares of FirstEnergy Corporation from a “sell” rating to a “strong sell” rating in a report on Saturday, June 10th. Barclays PLC raised shares of FirstEnergy Corporation from an “equal weight” rating to an “overweight” rating and lowered their target price for the stock from $38.00 to $36.00 in a research note on Monday, May 1st. Citigroup Inc. reissued a “neutral” rating and set a $34.00 target price (up previously from $32.00) on shares of FirstEnergy Corporation in a research note on Saturday, April 22nd. ValuEngine downgraded shares of FirstEnergy Corporation from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Goldman Sachs Group, Inc. (The) downgraded shares of FirstEnergy Corporation from a “positive” rating to a “neutral” rating in a research note on Monday, June 26th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and five have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.71.

Shares of FirstEnergy Corporation (NYSE:FE) traded up 1.36% during trading on Thursday, reaching $32.04. The company had a trading volume of 4,237,907 shares. The firm has a 50 day moving average price of $30.46 and a 200 day moving average price of $30.33. The company’s market cap is $14.24 billion. FirstEnergy Corporation has a 12 month low of $27.93 and a 12 month high of $34.96.

FirstEnergy Corporation (NYSE:FE) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.61. The business had revenue of $3.30 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The firm’s quarterly revenue was down 3.0% compared to the same quarter last year. During the same period last year, the firm posted $0.56 earnings per share. Analysts predict that FirstEnergy Corporation will post $2.81 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently modified their holdings of FE. Macquarie Group Ltd. raised its stake in FirstEnergy Corporation by 17.4% in the fourth quarter. Macquarie Group Ltd. now owns 148,043 shares of the utilities provider’s stock worth $4,585,000 after buying an additional 21,900 shares in the last quarter. Gulf International Bank UK Ltd raised its stake in shares of FirstEnergy Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 136,769 shares of the utilities provider’s stock worth $4,351,000 after buying an additional 1,700 shares in the last quarter. National Pension Service raised its stake in shares of FirstEnergy Corporation by 11.4% in the first quarter. National Pension Service now owns 381,108 shares of the utilities provider’s stock worth $11,955,000 after buying an additional 39,082 shares in the last quarter. Bank of Montreal Can raised its stake in shares of FirstEnergy Corporation by 18.5% in the first quarter. Bank of Montreal Can now owns 542,859 shares of the utilities provider’s stock worth $17,274,000 after buying an additional 84,814 shares in the last quarter. Finally, Visionary Asset Management Inc. raised its stake in shares of FirstEnergy Corporation by 3.1% in the first quarter. Visionary Asset Management Inc. now owns 107,462 shares of the utilities provider’s stock worth $3,419,000 after buying an additional 3,246 shares in the last quarter. Institutional investors own 78.11% of the company’s stock.

FirstEnergy Corporation Company Profile

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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