FirstEnergy Corp. [NYSE: FE] surged by $0.43 during the normal trading session on Thursday and reaching a high of $40.17 during the day while it closed the day at $40.15. The company report on March 16, 2023 that JCP&L Files Rate Review to Continue Service Reliability Enhancements and Support Customer Assistance Programs.
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Residential Rates to Remain Lowest Among the State’s Regulated Electric Utilities.
Jersey Central Power and Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), today requested a review of its base electric rates by the New Jersey Board of Public Utilities (BPU). The proposed rate adjustment supports an approximately $185 million investment that strengthens the energy grid, enhances the customer experience and funds new low-income and senior citizen customer assistance programs.
FirstEnergy Corp. stock has also gained 2.55% of its value over the past 7 days. However, FE stock has declined by -4.95% in the 3 months of the year. Over the past six months meanwhile, it has lost -3.11% and lost -4.27% year-on date.
The market cap for FE stock reached $23.62 billion, with 572.25 million shares outstanding and 571.68 million shares in the current float. Compared to the average trading volume of 3.74M shares, FE reached a trading volume of 3246270 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 $44.31 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 2.40. 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.
Guggenheim have made an estimate for FirstEnergy Corp. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on January 23, 2023. While these analysts kept the previous recommendation, BofA Securities dropped their target price from $41 to $38. The new note on the price target was released on January 23, 2023, representing the official price target for FirstEnergy Corp. stock. Previously, the target price had yet another drop from $52 to $44, while BofA Securities kept a Neutral rating on FE stock.
The Average True Range (ATR) for FirstEnergy Corp. is set at 0.93, with the Price to Sales ratio for FE stock in the period of the last 12 months amounting to 1.90. 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 0.27.
FE stock trade performance evaluation
FirstEnergy Corp. [FE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 2.55. With this latest performance, FE shares dropped by -0.05% in over the last four-week period, additionally sinking by -3.11% over the last 6 months – not to mention a drop of -9.14% 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 52.82, with the RSI for the last a single of trading hit 57.03, and the three-weeks RSI is set at 50.84 for FirstEnergy Corp. [FE]. The present Moving Average for the last 50 days of trading for this stock 40.62, while it was recorded at 39.19 for the last single week of trading, and 39.64 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 +15.33 and a Gross Margin at +24.39. FirstEnergy Corp.’s Net Margin is presently recorded at +3.26.
Return on Equity for this stock inclined to 4.31, with Return on Assets sitting at 0.89.
FirstEnergy Corp.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.60.
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 0.55%.
FirstEnergy Corp. [FE]: Insider Ownership positions
There are presently around $18,562 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 66,818,032, which is approximately 1.034% of the company’s market cap and around 0.10% of the total institutional ownership; BLACKROCK INC., holding 44,736,238 shares of the stock with an approximate value of $1.8 billion in FE stocks shares; and STATE STREET CORP, currently with $1.77 billion in FE stock with ownership of nearly -1.722% of the company’s market capitalization.
Positions in FirstEnergy Corp. stocks held by institutional investors increased at the end of Monday and at the time of the Monday reporting period, where 391 institutional holders increased their position in FirstEnergy Corp. [NYSE:FE] by around 31,573,035 shares. Additionally, 288 investors decreased positions by around 39,889,098 shares, while 113 investors held positions by with 390,843,627 shares. The mentioned changes placed institutional holdings at 462,305,760 shares, according to the latest SEC report filing. FE stock had 114 new institutional investments in for a total of 6,441,964 shares, while 71 institutional investors sold positions of 7,391,361 shares during the same period.