J.P. Morgan analyst Jeremy Tonet maintained a Hold rating on FirstEnergy (FE – Research Report) yesterday and set a price target of $41.00. The company’s shares closed last Monday at $37.42, close to its 52-week low of $35.32.
According to TipRanks.com, Tonet is a 4-star analyst with an average return of 5.2% and a 55.2% success rate. Tonet covers the Industrial Goods sector, focusing on stocks such as Enterprise Products Partners, Cheniere Energy Partners, and Magellan Midstream.
FirstEnergy has an analyst consensus of Moderate Buy, with a price target consensus of $47.88.
FirstEnergy’s market cap is currently $21.36B and has a P/E ratio of 17.38.
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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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