Bank of America Securities Remains a Hold on FirstEnergy (FE)

In a report released today, Ross Fowler from Bank of America Securities reiterated a Hold rating on FirstEnergy, with a price target of $53.00.

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Fowler covers the Utilities sector, focusing on stocks such as Eversource Energy, Black Hills, and Vistra Corp. According to TipRanks, Fowler has an average return of 7.6% and a 67.76% success rate on recommended stocks.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for FirstEnergy with a $53.14 average price target.

Based on FirstEnergy’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $3.8 billion and a GAAP net loss of $49 million. In comparison, last year the company earned a revenue of $3.18 billion and had a net profit of $261 million

Based on the recent corporate insider activity of 31 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of FE in relation to earlier this year. Last month, James Oneil, a Director at FE sold 7,945.00 shares for a total of $402,017.00.