FirstEnergy (NYSE:FE) Downgraded by StockNews.com

FirstEnergy (NYSE:FEGet Free Report) was downgraded by analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

A number of other research firms have also recently weighed in on FE. Morgan Stanley decreased their target price on shares of FirstEnergy from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. KeyCorp boosted their target price on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, FirstEnergy has a consensus rating of “Hold” and a consensus price target of $39.67.

Read Our Latest Stock Report on FE

FirstEnergy Price Performance

FE traded up $0.46 during trading on Monday, hitting $37.77. 3,692,404 shares of the stock traded hands, compared to its average volume of 4,207,781. FirstEnergy has a twelve month low of $32.18 and a twelve month high of $41.99. The company has a market cap of $21.67 billion, a price-to-earnings ratio of 20.87 and a beta of 0.49. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.43. The business has a 50 day moving average price of $37.08 and a 200 day moving average price of $36.46.

FirstEnergy (NYSE:FEGet Free Report) last announced its quarterly earnings data on Friday, February 9th. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $0.50 earnings per share. Equities research analysts forecast that FirstEnergy will post 2.68 earnings per share for the current fiscal year.

Insider Buying and Selling

In other FirstEnergy news, SVP Christine Walker sold 12,500 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $37.58, for a total transaction of $469,750.00. Following the sale, the senior vice president now owns 36,959 shares of the company’s stock, valued at $1,388,919.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.08% of the stock is currently owned by insiders.

Institutional Trading of FirstEnergy

A number of institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of FirstEnergy by 7.0% during the first quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock valued at $3,128,322,000 after purchasing an additional 4,443,050 shares during the period. Capital World Investors raised its holdings in shares of FirstEnergy by 45.0% during the second quarter. Capital World Investors now owns 43,450,863 shares of the utilities provider’s stock valued at $1,689,370,000 after purchasing an additional 13,484,251 shares during the period. FMR LLC raised its holdings in shares of FirstEnergy by 31.1% in the 3rd quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock worth $540,996,000 after acquiring an additional 3,756,228 shares during the last quarter. Invesco Ltd. raised its holdings in shares of FirstEnergy by 3.1% in the 3rd quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock worth $463,950,000 after acquiring an additional 407,350 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of FirstEnergy by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 11,526,479 shares of the utilities provider’s stock worth $460,739,000 after acquiring an additional 300,442 shares during the last quarter. Institutional investors own 82.34% of the company’s stock.

About FirstEnergy

(Get Free Report)

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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Analyst Recommendations for FirstEnergy (NYSE:FE)

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