Morgan Stanley Sticks to Their Buy Rating for FirstEnergy (FE)
Morgan Stanley analyst Stephen Byrd maintained a Buy rating on FirstEnergy (FE) today and set a price target of $40.00. The company’s shares closed last Monday at $33.63.
According to TipRanks.com, Byrd is a 5-star analyst with an average return of 12.8% and a 60.8% success rate. Byrd covers the Utilities sector, focusing on stocks such as Algonquin Power & Utilities, Public Service Enterprise, and American Electric Power.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for FirstEnergy with a $36.40 average price target, implying a 6.3% upside from current levels. In a report issued on February 17, UBS also maintained a Buy rating on the stock with a $40.00 price target.
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FirstEnergy’s market cap is currently $18.46B and has a P/E ratio of 25.60. The company has a Price to Book ratio of 11.85.
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FirstEnergy Corp. engages in the generation, transmission and distribution of electricity as well as energy management and other energy-related services through its subsidiaries. It operates through the following business segments: Regulated Distribution, Regulated Transmission and Corporate. The Regulated Distribution segment distributes electricity through FirstEnergy’s utility operating companies, serving various customers. The Regulated Transmission segment transmits electricity through transmission facilities owned and operated by FirstEnergy’s utilities and the regulatory assets. The Corporate segment reflects corporate support not charged to FE’s subsidiaries, interest expense on FE’s holding company debt and other businesses that do not constitute an operating segment. FirstEnergy was founded in 1996 and is headquartered in Akron, OH.