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FirstEnergy

FirstEnergy is an investor-owned holding company with 10 regulated distribution utilities across six mid-Atlantic and Midwestern states. FirstEnergy also owns and operates one of the nation's largest electric transmission systems.

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The market leaves investors with plenty of hints when volatility spikes, and recently, after the technology sector’s shaky price action, it looks like the sentiment is clear. Not only that, but the tariffs

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FirstEnergy Corporation&#39;s (NYSE: FE) continuous capital investments to maintain and increase resiliency are likely to strengthen its infrastructure, which will help enhance its performance. Given its growth opportunities, FE makes for a solid investment option in the Utility sector.

Here&#39;s Why You Should Add FirstEnergy Stock to Your Portfolio Now

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Top 2 Utilities Stocks That May Implode In Q3

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PG&amp;E Corporation (NYSE: PCG) is poised to benefit from positive developments like steady infrastructural investments, the addition of clean energy projects and initiatives to build California&#39;s electric vehicle charging infrastructure.

Reasons to Add PG&amp;E Stock to Your Portfolio Now

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Chicago, IL – July 1, 2024 – Zacks Equity Research shares Vistra (NYSE: VST) as the Bull of the Day and MasterCraft Boat Holdings, Inc. (NASDAQ: MCFT) as the Bear of the Day.

Vistra and MasterCraft Boat Have Been Highlighted as Zacks Bull and Bear of the Day

FirstEnergy Corporation (NYSE: FE) and its transmission subsidiaries completed the necessary inspection and maintenance of its transmission system.

FirstEnergy Boosts Infrastructure for Summer Heat &amp; Storms

National Fuel Gas Company (NYSE: NFG) announced that its board of directors has approved a 4% increase in its quarterly dividend rate. The company has paid dividends for 122 consecutive years, and this marks its annual dividend hike for 54 consecutive years.

National Fuel Gas&#39; Board Approves 4% Dividend Hike

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Pre-Market Outlook

Top 5 Utilities Stocks You May Want To Dump In May

Earnings Beats

FirstEnergy (NYSE: FE) reported first-quarter 2024 operating earnings of 55 cents per share, which surpassed the Zacks Consensus Estimate of 53 cents by 3.8%. However, the bottom line decreased 8.3% from the year-ago quarter&#39;s figure of 60 cents.

FirstEnergy Q1 Earnings Beat Estimates, Revenues Lag

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11 Utility Stocks Get New Ratings, Forecasts After Recent Volatility: &#39;Higher Quality ... Low Valuation&#39;

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Wolfe Research analyst Steve Fleishman downgrades FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) from Outperform to Peer Perform.

Wolfe Research Downgrades FirstEnergy to Peer Perform

He succeeds John W. Somerhalder II, who will remain a director of the Board. Lisa Winston Hicks will remain the Board's Lead Independent Director.

Management

FirstEnergy Says President And CEO Brian Tierney Has Been Elected By Board To Additional Role Of Chair, Effective Jan. 1, 2025

Scotiabank analyst Andrew Weisel upgrades FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) from Sector Perform to Sector Outperform and raises the price target from $45 to $50.

Scotiabank Upgrades FirstEnergy to Sector Outperform, Raises Price Target to $50

In the current market session, FirstEnergy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) share price is at $40.42, after a 0.75% spike. Moreover, over the past month, the stock decreased by 1.74%, but in the past year, spiked by 8.49%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1734011192_0.png" alt="Past Year Chart" />

<h3>Comparing FirstEnergy P/E Against Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of 17.74 in the Electric Utilities industry, FirstEnergy Inc. has a higher P/E ratio of 25.88. Shareholders might be inclined to think that FirstEnergy Inc. might perform better than its industry group. It's also possible that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1734011192_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Price Over Earnings Overview: FirstEnergy

Keybanc analyst Sophie Karp maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Overweight and lowers the price target from $48 to $47.

Keybanc Maintains Overweight on FirstEnergy, Lowers Price Target to $47

FirstEnergy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) short percent of float has fallen 6.05% since its last report. The company recently reported that it has 10.30 million shares sold short, which is 2.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.5 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>FirstEnergy Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732298411_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for FirstEnergy has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing FirstEnergy's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, FirstEnergy's peer group average for short interest as a percentage of float is 1.97%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Looking Into FirstEnergy's Recent Short Interest

Morgan Stanley analyst David Arcaro maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Overweight and lowers the price target from $52 to $50.

Morgan Stanley Maintains Overweight on FirstEnergy, Lowers Price Target to $50

FirstEnergy Secures $50M U.S. Department Of Energy Grant For Smart Grid Enhancements, Aiming To Boost Reliability For Over 53,000 Customers In West Virginia And Maryland

Seaport Global analyst Angie Storozynski downgrades FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) from Buy to Neutral.

Seaport Global Downgrades FirstEnergy to Neutral

Guidance

FirstEnergy Says Load Requests For Facilities Of 500 MW Or More Have Already More Than Tripled Compared To 2023

If approved by&nbsp;PUCO, companies would revert to a previous rate plan
AKRON, Ohio, Oct. 29, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) Ohio electric companies – Ohio Edison, The Illuminating Company, and Toledo Edison – have filed a notice with the Public Utilities Commission of Ohio (PUCO) to withdraw their current Electric Security Plan (ESP) 5, which took effect on June 1. If approved by the PUCO, the companies would revert to their prior ESP4, which was in effect through May 31, 2024.

FirstEnergy's Ohio Electric Companies File To Withdraw Electric Security Plan, If Approved By PUCO, Companies Would Revert To A Previous Rate Plan

FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) reported quarterly earnings of $0.85 per share which missed the analyst consensus estimate of $0.90 by 5.56 percent. The company reported quarterly sales of $3.700 billion which missed the analyst consensus estimate of $3.907 billion by 5.30 percent. This is a 6.11 percent increase over sales of $3.487 billion the same period last year.

Earnings Misses

FirstEnergy Q3 2024 Adj. EPS $0.85 Misses $0.90 Estimate, Sales $3.700B Miss $3.907B Estimate

FirstEnergy Sees FY 2024 Adj. EPS $2.61-$2.71 Per Share Vs $2.70 Est.

FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) reported quarterly earnings of $0.85 per share which missed the analyst consensus estimate of $0.90 by 5.56 percent. The company reported quarterly sales of $3.70 billion which missed the analyst consensus estimate of $3.91 billion by 5.30 percent. This is a 6.11 percent increase over sales of $3.49 billion the same period last year.

FirstEnergy Q3 2024 Adj EPS $0.85 Misses $0.90 Estimate, Sales $3.70B Miss $3.91B Estimate

Keybanc analyst Sophie Karp maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Overweight and raises the price target from $47 to $48.

Keybanc Maintains Overweight on FirstEnergy, Raises Price Target to $48

JP Morgan analyst Jeremy Tonet maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Neutral and raises the price target from $45 to $46.

JP Morgan Maintains Neutral on FirstEnergy, Raises Price Target to $46

Jefferies analyst Julien Dumoulin-Smith initiates coverage on FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Hold rating and announces Price Target of $46.

Initiation

Jefferies Initiates Coverage On FirstEnergy with Hold Rating, Announces Price Target of $46

Project to enhance reliability for more than 3,000 customers in four West Virginia counties
FAIRMONT, W.Va., Oct. 11, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) subsidiary Mon Power has been awarded $5 million in federal funding by the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) for a project that will enhance electric service reliability for customers in parts of rural West Virginia. The funding is part of the Energy Improvements in Rural or Remote Areas (ERA) program established by the Bipartisan Infrastructure Law.

Contracts

FirstEnergy's Mon Power Awarded $5M In Federal Funding By The U.S. Department Of Energy's Office Of Clean Energy Demonstrations For A Project That Will Enhance Electric Service Reliability For Customers In Parts Of Rural West Virginia

Looking into the current session, FirstEnergy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) shares are trading at $42.27, after a 0.14% drop. Over the past month, the stock decreased by 4.52%, but over the past year, it actually increased by 17.42%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1728655216_0_0.png" alt="Past Year Chart" />

<h3>Comparing FirstEnergy P/E Against Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
FirstEnergy has a better P/E ratio of 27.13 than the aggregate P/E ratio of 18.77 of the Electric Utilities industry. Ideally, one might believe that FirstEnergy Inc. might perform better in the future than it's industry group, but it's probable that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1728655217_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

P/E Ratio Insights for FirstEnergy

Barclays analyst Eric Beaumont maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Equal-Weight and raises the price target from $40 to $46.

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