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

FirstEnergy Corp. [NYSE: FE] jumped around 0.14 points on Thursday, while shares priced at $41.38 at the close of the session, up 0.34%. The company report on November 30, 2022 that FirstEnergy Building New Transmission Line in Northeast Ohio.

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Project to benefit 28,000 customers and accommodate future growth.

American Transmission Systems, Inc. (ATSI), a subsidiary of FirstEnergy Corp. (NYSE: FE), is constructing a new high-voltage transmission line in Lorain County, Ohio, that will enhance service reliability for approximately 28,000 customers and accommodate increasing demand for electricity in the future.

FirstEnergy Corp. stock is now -0.50% down from its year-to-date (YTD) trading value. FE Stock saw the intraday high of $41.96 and lowest of $41.155 per share. The company’s 52-week high price is 48.85, which means current price is +17.16% above from all time high which was touched on 04/21/22.

Compared to the average trading volume of 3.94M shares, FE reached a trading volume of 4640827 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 $41.67 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 2.50. 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 0.91, with the Price to Sales ratio for FE stock in the period of the last 12 months amounting to 1.95. The Price to Book ratio for the last quarter was 2.19, with the Price to Cash per share for the same quarter was set at 0.44.

How has FE stock performed recently?

FirstEnergy Corp. [FE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.73. With this latest performance, FE shares gained by 7.70% in over the last four-week period, additionally sinking by -2.27% over the last 6 months – not to mention a rise of 9.67% 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 67.58, with the RSI for the last a single of trading hit 75.30, and the three-weeks RSI is set at 62.47 for FirstEnergy Corp. [FE]. The present Moving Average for the last 50 days of trading for this stock 37.97, while it was recorded at 40.38 for the last single week of trading, and 40.71 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 0.60 and a Current Ratio set at 0.70.

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 $19,476 million, or 90.00% of FE stock, in the hands of institutional investors. The top three institutional holders of FE stocks are: VANGUARD GROUP INC with ownership of 66,134,080, which is approximately -1.672% of the company’s market cap and around 0.06% of the total institutional ownership; STATE STREET CORP, holding 44,863,493 shares of the stock with an approximate value of $1.86 billion in FE stocks shares; and BLACKROCK INC., currently with $1.76 billion in FE stock with ownership of nearly -5.596% of the company’s market capitalization.

Positions in FirstEnergy Corp. stocks held by institutional investors increased at the end of October and at the time of the October reporting period, where 340 institutional holders increased their position in FirstEnergy Corp. [NYSE:FE] by around 35,783,022 shares. Additionally, 307 investors decreased positions by around 37,042,810 shares, while 125 investors held positions by with 397,832,384 shares. The mentioned changes placed institutional holdings at 470,658,216 shares, according to the latest SEC report filing. FE stock had 89 new institutional investments in for a total of 13,613,490 shares, while 90 institutional investors sold positions of 6,446,288 shares during the same period.

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