Market Analysts see FirstEnergy Corp. [FE] falling to $44. Time to buy?

FirstEnergy Corp. [NYSE: FE] stock went on an upward path that rose over 0.45% on Tuesday, amounting to a one-week price increase of more than 1.33%. The company report on December 24, 2022 that FirstEnergy and PJM Ask Customers to Conserve Electricity.

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Guidance from grid operator predicts high electric demand today amid extreme cold.

Due to the continuing frigid weather impacting FirstEnergy’s service territory along with much of the country, PJM Interconnection, the electric grid operator for the region, is asking that customers take steps to conserve electricity through 10 a.m. on Sunday, December 25.

Over the last 12 months, FE stock rose by 2.85%. The one-year FirstEnergy Corp. stock forecast points to a potential downside of -0.64. The average equity rating for FE stock is currently 2.50, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $23.95 billion, with 571.75 million shares outstanding and 571.27 million shares in the current float. Compared to the average trading volume of 3.39M shares, FE stock reached a trading volume of 4355581 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $42.32 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 0.74, with the Price to Sales ratio for FE stock in the period of the last 12 months amounting to 2.01. The Price to Book ratio for the last quarter was 2.26, with the Price to Cash per share for the same quarter was set at 0.45.

FE Stock Performance Analysis:

FirstEnergy Corp. [FE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.33. With this latest performance, FE shares gained by 2.13% in over the last four-week period, additionally plugging by 13.85% over the last 6 months – not to mention a rise of 2.85% 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 61.63, with the RSI for the last a single of trading hit 62.55, and the three-weeks RSI is set at 60.40 for FirstEnergy Corp. [FE]. The present Moving Average for the last 50 days of trading for this stock 40.29, while it was recorded at 42.28 for the last single week of trading, and 40.60 for the last 200 days.

Insight into FirstEnergy Corp. 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 0.60 and a Current Ratio set at 0.70.

FE Stock EPS

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 Position Details

There are presently around $20,044 million, or 89.00% 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 $1.91 billion in FE stocks shares; and BLACKROCK INC., currently with $1.81 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 February and at the time of the February reporting period, where 339 institutional holders increased their position in FirstEnergy Corp. [NYSE:FE] by around 35,745,565 shares. Additionally, 310 investors decreased positions by around 36,762,206 shares, while 121 investors held positions by with 398,114,589 shares. The mentioned changes placed institutional holdings at 470,622,360 shares, according to the latest SEC report filing. FE stock had 89 new institutional investments in for a total of 13,566,392 shares, while 93 institutional investors sold positions of 6,168,452 shares during the same period.


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