RBC Capital Reaffirms Their Buy Rating on FirstEnergy (FE)
In a report released yesterday, Shelby Tucker from RBC Capital maintained a Buy rating on FirstEnergy (FE), with a price target of $37.00. The company’s shares closed last Monday at $31.73.
According to TipRanks.com, Tucker is a 5-star analyst with an average return of 7.2% and a 69.6% success rate. Tucker covers the Utilities sector, focusing on stocks such as Public Service Enterprise, American Electric Power, and Nextera Energy Partners.
FirstEnergy has an analyst consensus of Moderate Buy, with a price target consensus of $37.59, which is a 18.6% upside from current levels. In a report issued on October 5, Morgan Stanley also maintained a Buy rating on the stock with a $39.00 price target.
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FirstEnergy’s market cap is currently $17.18B and has a P/E ratio of 26.00. The company has a Price to Book ratio of 11.27.
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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.