Analysts from StockNews.com discussed FirstEnergy in a report on the company’s business published on Thursday and made available to the general public.
The organization recommended to shareholders that they keep their current “hold” position in the stock of the utility provider.
FirstEnergy (NYSE: FE) made public on Monday, February 13, the quarterly financial results it had compiled over the previous three months.
Earnings per share for the quarter came in at $0.50 for the company that provides utilities, which was $0.03 less than the consensus estimate of $0.53 per share.
The return on equity for FirstEnergy was 13.16 percent, and the company’s net margin was 3.266 percent.
The company announced that its revenue for the quarter was $3.20 billion, which is significantly higher than the average prediction of $2.45 billion in revenue. Compared to the previous year’s results for the same quarter, the company’s earnings came in at $0.51 per share. Compared to the same period of the previous year, the revenue for the current quarter saw an increase of 18.5%.
According to the projections made by equity analysts who research the company, FirstEnergy is expected to generate earnings of 2.53 cents per share this year.
On Thursday, the opening price of a share on the FE stock market was $39.72.
The company has a market capitalization of $22.73 billion, a price-to-earnings ratio of 55.94, a price-to-earnings-to-growth ratio of 2.33, and a beta coefficient of 0.43.
These metrics indicate that the company is relatively expensive relative to its earnings.
The price of FirstEnergy has ranged from $35.32 to $48.85 over the last 52 weeks, with an average price of $48.85.
The moving average price of the company over the past 50 days is $40.65, while the average price over the last 200 days is $39.91.
A debt-to-equity ratio comes in at 1.99; a quick ratio at 0.50; a current ratio at 0.61; and a quick ratio at 0.50.
Concerning the company, several other equity research professionals have also made public their findings. Wells Fargo & Company revealed their decision to raise their price target on FirstEnergy to $45.00 in a research note released on Wednesday, December 14.
The note was published online. JPMorgan Chase & Co lowered their price objective on FirstEnergy from $43.00 to $41.00 and gave the company a “neutral” rating in a research note published on Friday, March 10.
The message was about FirstEnergy.
In a research note made public on February 22, Morgan Stanley announced that they are no longer maintaining their “overweight” rating for FirstEnergy.
In addition, they reduced the price target they had set for the stock from $48.0 to $47,000.
Bank of America decreased their price objective for FirstEnergy from $41.00 to $38.00 and downgraded the company’s rating from “neutral” to “underperform” in a research note published on Monday, January 23.
In a research note published on Monday, January 23, Guggenheim increased their price target on FirstEnergy from $34.00 to $46.00, upgrading the company from a “neutral” rating to a “buy” rating.
Both of these upgrades were made to the company’s stock. Only one of the six research analysts recommended selling the stock, while the other five suggested keeping it in one’s portfolio.
The recommendation to buy the stock was made by five analysts, while the recommendation to hold four analysts made it.
The data provided by Bloomberg indicates that the current recommendation for the company is “Hold” and that the price target has been set at $43.89.
Recently, several hedge funds have been seen transacting business in the market by purchasing and selling company shares.
The value of Park Avenue Securities LLC’s holdings in FirstEnergy increased by 79.9% during the third quarter of the year.
After purchasing an additional 5,692 shares throughout the period, Park Avenue Securities LLC now fully owns 12,820 shares of the utility provider’s stock.
The stock is currently estimated to be worth a total of $474,000.
During the second quarter, Prudential Financial INC increased the number of FirstEnergy shares it owned by 59.8%, bringing the total number of shares it possessed to 1.
After making purchases during the relevant period totaling 306,248 shares, Prudential Financial INC now owns 818,563 shares of the utilities provider’s stock, currently valued at $31,321,000.
During the relevant period, the company made purchases totaling 306,248 shares. SJS Investment Consulting INC forked over thirty thousand dollars during the third quarter to get a foothold in a new position in FirstEnergy stock.
Benjamin Edwards, INC incurred a total cost of approximately 134,000 dollars to purchase a new investment in FirstEnergy during the third quarter of the fiscal year.
The most recent business transaction occurred during the third quarter of the fiscal year when Householder Group Estate & Retirement Specialist LLC acquired a new position with FirstEnergy.
This was the most recent deal to be finalized.
Institutional investors and hedge funds collectively own 81.80% of the total number of shares in the company, making them the company’s largest stockholders.
The production, transmission, and distribution of electrical power are all handled by various FirstEnergy subsidiary companies.
In addition, it offers services associated with the management of energy as well as other facets of energy.
Three distinct divisions can be used to classify the company’s operations: regulated distribution, regulated transmission, and corporate or other.