KeyCorp Cuts FirstEnergy (NYSE:FE) Price Target to $47.00

FirstEnergy (NYSE:FE) had its target price cut by equities researchers at KeyCorp from $48.00 to $47.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. KeyCorp’s price objective points to a potential upside of 13.68% from the stock’s current price. KeyCorp also issued estimates for FirstEnergy’s FY2027 earnings at $3.37 EPS and FY2028 earnings at $3.62 EPS.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. lifted their target price on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research note on Friday, September 20th. Bank of America raised their price target on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a research report on Thursday, August 29th. Scotiabank increased their price objective on FirstEnergy from $40.00 to $45.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Barclays raised their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $45.82.

FirstEnergy Trading Up 0.2 %

NYSE FE opened at $41.35 on Wednesday. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The stock’s 50-day simple moving average is $42.55 and its two-hundred day simple moving average is $41.55. FirstEnergy has a twelve month low of $35.41 and a twelve month high of $44.97. The company has a market capitalization of $23.83 billion, a price-to-earnings ratio of 26.67, a PEG ratio of 2.24 and a beta of 0.51.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Research analysts forecast that FirstEnergy will post 2.67 EPS for the current fiscal year.

Institutional Trading of FirstEnergy

A number of hedge funds and other institutional investors have recently modified their holdings of FE. Franklin Resources Inc. grew its holdings in FirstEnergy by 1.0% in the third quarter. Franklin Resources Inc. now owns 3,546,001 shares of the utilities provider’s stock worth $153,081,000 after purchasing an additional 34,151 shares during the period. Wilmington Savings Fund Society FSB boosted its position in shares of FirstEnergy by 361.9% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 24,834 shares of the utilities provider’s stock worth $1,101,000 after purchasing an additional 19,457 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of FirstEnergy by 21.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 26,508 shares of the utilities provider’s stock worth $1,108,000 after buying an additional 4,682 shares during the last quarter. TD Private Client Wealth LLC raised its stake in FirstEnergy by 3.6% during the third quarter. TD Private Client Wealth LLC now owns 10,949 shares of the utilities provider’s stock valued at $486,000 after buying an additional 382 shares during the last quarter. Finally, Toronto Dominion Bank boosted its holdings in FirstEnergy by 43.7% in the third quarter. Toronto Dominion Bank now owns 223,828 shares of the utilities provider’s stock worth $9,927,000 after acquiring an additional 68,111 shares in the last quarter. 89.41% of the stock is owned by hedge funds and other 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.