FirstEnergy Corp. [FE] stock Downgrade by BofA Securities analyst, price target now $44


FirstEnergy Corp. [NYSE: FE] plunged by -$0.22 during the normal trading session on Thursday and reaching a high of $42.90 during the day while it closed the day at $42.34. The company report on May 31, 2022 that FirstEnergy Completes Minority Interest Sale in Transmission Business.

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Investment by Brookfield Super-Core Infrastructure Partners Supports FirstEnergy’s Capital Growth Program, Strengthens Balance Sheet.

FirstEnergy Corp. (NYSE: FE) today announced that its subsidiary FirstEnergy Transmission, LLC (FET), has completed the sale of a 19.9% minority equity stake to Brookfield Super-Core Infrastructure Partners for $2.375 billion. FirstEnergy retains an 80.1% equity interest in FET and FirstEnergy’s workforce will continue to maintain and operate the company’s transmission system.

FirstEnergy Corp. stock has also loss -1.92% of its value over the past 7 days. However, FE stock has declined by -0.19% in the 3 months of the year. Over the past six months meanwhile, it has gained 12.22% and gained 1.80% year-on date.

The market cap for FE stock reached $24.11 billion, with 570.00 million shares outstanding and 540.80 million shares in the current float. Compared to the average trading volume of 3.97M shares, FE reached a trading volume of 4788608 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about FirstEnergy Corp. [FE]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for FE shares is $47.07 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on FE stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

BofA Securities have made an estimate for FirstEnergy Corp. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on May 16, 2022. While these analysts kept the previous recommendation, Credit Suisse raised their target price to Outperform. The new note on the price target was released on April 26, 2022, representing the official price target for FirstEnergy Corp. stock. Previously, the target price had yet another raise from $40 to $46, while Evercore ISI kept a Outperform rating on FE stock.

The Average True Range (ATR) for FirstEnergy Corp. is set at 0.99, with the Price to Sales ratio for FE stock in the period of the last 12 months amounting to 2.12. The Price to Book ratio for the last quarter was 2.76, with the Price to Cash per share for the same quarter was set at 0.50.

FE stock trade performance evaluation

FirstEnergy Corp. [FE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.92. With this latest performance, FE shares dropped by -1.85% in over the last four-week period, additionally plugging by 12.22% over the last 6 months – not to mention a rise of 10.06% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for FE stock in for the last two-week period is set at 41.23, with the RSI for the last a single of trading hit 39.77, and the three-weeks RSI is set at 42.77 for FirstEnergy Corp. [FE]. The present Moving Average for the last 50 days of trading for this stock 44.54, while it was recorded at 42.92 for the last single week of trading, and 40.89 for the last 200 days.

FirstEnergy Corp. [FE]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and FirstEnergy Corp. [FE] shares currently have an operating margin of +16.59 and a Gross Margin at +26.23. FirstEnergy Corp.’s Net Margin is presently recorded at +11.13.

Return on Equity for this stock inclined to 15.57, with Return on Assets sitting at 2.76.

FirstEnergy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.50.

Earnings per share (EPS) analysis for FirstEnergy Corp. [FE] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for FE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for FirstEnergy Corp. go to -2.42%.

FirstEnergy Corp. [FE]: Insider Ownership positions

There are presently around $20,408 million, or 85.40% of FE stock, in the hands of institutional investors. The top three institutional holders of FE stocks are: VANGUARD GROUP INC with ownership of 68,214,574, which is approximately 6.967% of the company’s market cap and around 0.10% of the total institutional ownership; STATE STREET CORP, holding 43,839,325 shares of the stock with an approximate value of $1.87 billion in FE stocks shares; and BLACKROCK INC., currently with $1.8 billion in FE stock with ownership of nearly -1.992% of the company’s market capitalization.

Positions in FirstEnergy Corp. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 356 institutional holders increased their position in FirstEnergy Corp. [NYSE:FE] by around 47,643,567 shares. Additionally, 308 investors decreased positions by around 43,497,087 shares, while 128 investors held positions by with 388,381,599 shares. The mentioned changes placed institutional holdings at 479,522,253 shares, according to the latest SEC report filing. FE stock had 90 new institutional investments in for a total of 11,034,032 shares, while 91 institutional investors sold positions of 12,182,113 shares during the same period.