Firstenergy Corp. (NYSE: FE): Analyst View Points To Future Growth

Firstenergy Corp. (FE) concluded trading on Wednesday at a closing price of $38.14, with 3.17 million shares of worth about $120.98 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 16.99% during that period and on April 3, 2024 the price saw a loss of about -0.86%. Currently the company’s common shares owned by public are about 574.34M shares, out of which, 573.45M shares are available for trading.

However, the stock later moved at a day high price of 38.55, or with a loss of -0.86%. Stock saw a price change of 0.93% in past 5 days and over the past one month there was a price change of 2.33%. Year-to-date (YTD), FE shares are showing a performance of 4.04% which decreased to -4.79% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $32.18 but also hit the highest price of $41.99 during that period. The average intraday trading volume for Firstenergy Corp. shares is 3.55 million. The stock is currently trading 0.08% above its 20-day simple moving average (SMA20), while that difference is up 2.18% for SMA50 and it goes to 2.92% higher than SMA200.

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Firstenergy Corp. (NYSE: FE) currently have 574.34M outstanding shares and institutions hold larger chunk of about 90.47% of that.

The stock has a current market capitalization of $21.91B and its 3Y-monthly beta is at 0.48. PE ratio of stock for trailing 12 months is 19.86, while it has posted earnings per share of $1.92 in the same period. Its PEG reads 3.15 and has Quick Ratio of 0.38 while making debt-to-equity ratio of 2.41. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for FE, volatility over the week remained 1.36% while standing at 1.34% over the month.

Stock’s fiscal year EPS is expected to rise by 5.11% while it is estimated to increase by 6.09% in next year. EPS is likely to shrink at an annualized rate of 6.30% for next 5-years, compared to annual growth of 11.68% made by the stock over the past 5-years.

Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Barclays on August 23, 2023 offering an Equal weight rating for the stock and assigned a target price of $37 to it. Coverage by UBS stated Firstenergy Corp. (FE) stock as a Neutral in their note to investors on August 07, 2023, suggesting a price target of $40 for the stock. On January 23, 2023, Guggenheim Upgrade their recommendations, while on January 23, 2023, BofA Securities Downgrade their ratings for the stock with a price target of $38. Stock get a Neutral rating from BofA Securities on May 16, 2022.

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