FirstEnergy Corp. [FE] is -10.48% lower this YTD. Is it still time to buy?


FirstEnergy Corp. [NYSE: FE] slipped around -0.21 points on Thursday, while shares priced at $37.23 at the close of the session, down -0.56%. The company report on July 7, 2022 that Potomac Edison Starts Construction on New Substation in Frederick County.

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West Jefferson project to improve system reliability for 4,300 customers.

– Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has started construction on a new substation that will enhance system reliability for approximately 4,300 customers in the Brunswick, Jefferson and Petersville areas of Frederick County, Maryland.

FirstEnergy Corp. stock is now -10.48% down from its year-to-date (YTD) trading value. FE Stock saw the intraday high of $37.88 and lowest of $37.22 per share. The company’s 52-week high price is 48.85, which means current price is +5.41% above from all time high which was touched on 04/21/22.

Compared to the average trading volume of 3.88M shares, FE reached a trading volume of 2721289 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus 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 $46.70 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 0.97, with the Price to Sales ratio for FE stock in the period of the last 12 months amounting to 1.82. The Price to Book ratio for the last quarter was 2.42, with the Price to Cash per share for the same quarter was set at 0.51.

How has FE stock performed recently?

FirstEnergy Corp. [FE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -2.62. With this latest performance, FE shares dropped by -11.00% in over the last four-week period, additionally sinking by -9.37% over the last 6 months – not to mention a drop of -1.66% 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 37.40, with the RSI for the last a single of trading hit 38.74, and the three-weeks RSI is set at 37.00 for FirstEnergy Corp. [FE]. The present Moving Average for the last 50 days of trading for this stock 40.89, while it was recorded at 38.00 for the last single week of trading, and 40.90 for the last 200 days.

FirstEnergy Corp. [FE]: Deeper insight into the fundamentals

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 analysis for FirstEnergy Corp. [FE]

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%.

Insider trade positions for FirstEnergy Corp. [FE]

There are presently around $17,688 million, or 86.20% 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 $1.63 billion in FE stocks shares; and BLACKROCK INC., currently with $1.58 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 July and at the time of the July reporting period, where 352 institutional holders increased their position in FirstEnergy Corp. [NYSE:FE] by around 45,782,222 shares. Additionally, 307 investors decreased positions by around 43,346,243 shares, while 127 investors held positions by with 385,975,147 shares. The mentioned changes placed institutional holdings at 475,103,612 shares, according to the latest SEC report filing. FE stock had 89 new institutional investments in for a total of 11,028,554 shares, while 91 institutional investors sold positions of 12,032,613 shares during the same period.