FirstEnergy (NYSE:FE) Stock Upgrade
In a note revealed to investors on Wednesday, 2 December, Wolfe Research increased shares of FirstEnergy (NYSE:FE) to a solid “Peer Perform” rating from their previous “Underperform” rating.
From a total of 17 analysts covering FirstEnergy (NYSE:FE) stock, 7 rate it a ”Buy”, 2 a “Sell”, and 13 a ”Hold”. This means that 32% of the ratings are positive. The highest target price is $40 while the lowest target price is $25. The mean of all analyst targets is $36 with a -2.19% below today’s ($32) stock price. FirstEnergy was the topic of 15 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Barclays Capital maintained shares on December 2 with “Overweight” rating. JP Morgan initiated shares with “Overweight” rating and $38 target share price in a report from a September 11. RBC Capital Markets maintained FE stock in a recent report from November 6 with “Sector Perform” rating. Finally, UBS upgraded the stock to “Neutral” rating in a report issued on an October 13.
The stock decreased 0.84% or $0.27 on December 2, striking $32. Approximately 5.71 million shares of stock traded hands or 43.47% up from the average. FirstEnergy Corp. (NYSE:FE) has declined 11.20% since April 29, 2015 and is downtrending. It has underperformed by 11.00% the S&P500.
FirstEnergy Corp. is a holding company. The company has a market cap of $13.78 billion. The Firm operates through three divisions: Regulated Distribution, Regulated Transmission and Competitive Energy Services . It has 27.23 P/E ratio. The Regulated Distribution segment distributes electricity through its 10 utility operating companies, serving clients within 65,000 square miles of Ohio, Pennsylvania, West Virginia, Maryland, New Jersey and New York.
According to Zacks Investment Research, “FirstEnergy Corp. is a diversified energy services holding company as the result of the merger of Ohio Edison Company and Centerior Energy Corporation. FirstEnergy companies provide electricity and natural gas services and a wide array of energy-related products and services. FirstEnergy’s four electric utility companies, Ohio Edison and its Pennsylvania Power subsidiary, The Illuminating Company and Toledo Edison, serve customers in northern and central Ohio and western Pennsylvania. (Company Press Release)” Get a free copy of the Zacks research report on FirstEnergy Corp. (FE).