Guggenheim Issues a Upgrade for FirstEnergy (NYSE:FE) from a Neutral to Buy Rating

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FirstEnergy (NYSE:FE) Stock Upgrade

It will be interesting to watch today’s trading of shares of FirstEnergy (NYSE:FE) as Guggenheim hiked the stock from a Neutral to a respectable Buy.

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 $42 while the lowest target price is $25. The mean of all analyst targets is $36.12 with a -1.91% below today’s ($31.91) stock price. FirstEnergy was the topic of 16 analyst reports since July 21, 2015 according to the firm StockzIntelligence Inc. Wolfe Research upgraded shares on December 2 to “Peer Perform” rating. UBS upgraded shares to “Neutral” rating and $33 target share price in a report from an October 13. IBC downgraded FE stock in a recent report from November 6 to “Sector Underperform” rating. JP Morgan initiated the rating on September 11. JP Morgan has a “Overweight” rating and a $38 price target on shares. Finally, Goldman Sachs upgraded the stock to “Neutral” rating in a report issued on an October 19.

Approximately 2.61M shares of stock traded hands. FirstEnergy Corp. (NYSE:FE) has declined 10.94% since April 30, 2015 and is downtrending. It has underperformed by 10.66% the S&P500.

FirstEnergy Corp. is a holding company. The company has a market cap of $13.53 billion. The Firm operates through three divisions: Regulated Distribution, Regulated Transmission and Competitive Energy Services . It has 27.16 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).

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