Morgan Stanley Releases a Buy Rating on FirstEnergy (FE)

In a report released yesterday, David Arcaro from Morgan Stanley assigned a Buy rating to FirstEnergy. The company’s shares closed yesterday at $48.77.

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According to TipRanks, Arcaro is a 5-star analyst with an average return of 14.7% and a 68.13% success rate. Arcaro covers the Utilities sector, focusing on stocks such as Vistra Corp, American Electric Power, and CMS Energy.

Currently, the analyst consensus on FirstEnergy is a Moderate Buy with an average price target of $52.67.

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 33 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. Earlier this month, James Oneil, a Director at FE sold 7,945.00 shares for a total of $402,017.00.