FirstEnergy (NYSE:FE) Lowered to “Neutral” at Mizuho

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FirstEnergy (NYSE:FE) was downgraded by Mizuho from a “buy” rating to a “neutral” rating in a research report issued on Friday, September 20th, MarketBeat Ratings reports. They presently have a $48.50 price objective on the utilities provider’s stock, up from their prior price objective of $48.00. Mizuho’s price objective would suggest a potential upside of 1.27% from the stock’s previous close.

A number of other equities analysts have also recently issued reports on FE. Zacks Investment Research cut shares of FirstEnergy from a “hold” rating to a “sell” rating and set a $45.00 target price for the company. in a research report on Tuesday, July 2nd. TheStreet downgraded shares of FirstEnergy from a “b” rating to a “f” rating in a report on Thursday, July 18th. Finally, KeyCorp reiterated an “overweight” rating and set a $46.00 price target on shares of FirstEnergy in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $45.92.

FirstEnergy stock traded down $0.01 during midday trading on Friday, hitting $47.89. 2,494,158 shares of the company’s stock were exchanged, compared to its average volume of 3,686,052. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 3.19 and a beta of 0.21. The firm’s 50 day simple moving average is $47.16 and its 200 day simple moving average is $43.80. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.53 and a current ratio of 0.60. FirstEnergy has a 12-month low of $35.33 and a 12-month high of $49.07.

FirstEnergy (NYSE:FE) last issued its earnings results on Tuesday, July 23rd. The utilities provider reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.60 by $0.01. FirstEnergy had a net margin of 2.79% and a return on equity of 20.29%. The business had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.66 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The business’s quarterly revenue was down 3.8% compared to the same quarter last year. On average, equities research analysts forecast that FirstEnergy will post 2.5 EPS for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. grew its stake in FirstEnergy by 25.7% during the third quarter. Pacer Advisors Inc. now owns 57,965 shares of the utilities provider’s stock worth $2,796,000 after buying an additional 11,864 shares during the period. Dubuque Bank & Trust Co. purchased a new stake in FirstEnergy during the third quarter worth approximately $962,000. Crow Point Partners LLC grew its stake in FirstEnergy by 112.4% during the third quarter. Crow Point Partners LLC now owns 637,200 shares of the utilities provider’s stock worth $30,860,000 after buying an additional 337,200 shares during the period. Gulf International Bank UK Ltd grew its stake in FirstEnergy by 1.9% during the third quarter. Gulf International Bank UK Ltd now owns 123,091 shares of the utilities provider’s stock worth $5,936,000 after buying an additional 2,306 shares during the period. Finally, Foundations Investment Advisors LLC grew its stake in FirstEnergy by 18.9% during the third quarter. Foundations Investment Advisors LLC now owns 32,046 shares of the utilities provider’s stock worth $1,530,000 after buying an additional 5,098 shares during the period. Hedge funds and other institutional investors own 94.12% of the company’s stock.

FirstEnergy Company Profile

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

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Analyst Recommendations for FirstEnergy (NYSE:FE)

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