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FirstEnergy (FE) Gets a Buy Rating from Morgan Stanley

In a report released today, Stephen Byrd from Morgan Stanley maintained a Buy rating on FirstEnergy (FEResearch Report), with a price target of $50.00. The company’s shares closed last Tuesday at $43.50, close to its 52-week high of $44.98.

According to TipRanks.com, Byrd is a 5-star analyst with an average return of 10.0% and a 58.9% success rate. Byrd covers the Utilities sector, focusing on stocks such as Constellation Energy Corporation, American Electric Power, and Pinnacle West Capital.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for FirstEnergy with a $44.63 average price target.

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FirstEnergy’s market cap is currently $24.87B and has a P/E ratio of 19.25.

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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.

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