FirstEnergy (NYSE:FE) Stock, Quote.Headers.trade-ideas

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.

Movers

News

Short Ideas

Markets

Trading Ideas

NOVA

Top 2 Utilities Stocks That May Implode In Q3

Earnings

Small Cap

Analyst Ratings

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

MCFT

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 Corp

5E Advanced Materials, Inc. - Common Stock

5E Advanced Materials Inc

Fear

5E Advanced Materials Inc Chess Depository Interest

Fenbo Holdings Ltd

PGIM US Large-Cap Buffer 12 ETF - January PGIM US Large-Cap Buffer 12 ETF - February

AIM ETF Products Trust AllianzIM U.S. Large Cap Buffer10 Feb ETF

AIM ETF Products Trust AllianzIM U.S. Large Cap Buffer20 Feb ETF

TrueShares Structured Outcome (February) ETF

FRONTERA ENERGY CORP ORD by Frontera Energy Corp

Frontera Energy Corp

FIDELITY CHINA SPC ORD by Fidelity China Special Situations PLC

FEC RESOURCES INC ORD by FEC Resources Inc.

FEC Resources Inc

FEDERAL BANK 144A

FEDERAL CASTERS CORP by Federal Casters Corp.

ETRACS 2x Leveraged IFED Invest with the Fed TR Index ETN

FlexShares ESG & Climate Developed Markets ex-US Core Index Fund

FEED ONE CO LTD by FEED ONE CO LTD.

FEDERAL BANK LD (THE) GDR

Four Seasons Education (Cayman) Inc. American Depositary Shares, each ADS representing 10 ordinary shares

Four Seasons Education (Cayman) Inc

FlexShares Trust ESG & Climate Emerging Mkts Core Index Fd

FREEPORT RES INC by Freeport Resources Inc.

Freeport Resources Inc

Ferrexpo PLC

FAR EAST GOLD LTD by FAR EAST GOLD LTD.

FAR EAST HOSPITALITY TR by FAR EAST HOSPITALITY TR.

Far East Hospitality Trust

FAR EAST HORIZON LTD ADR by Far East Horizon Ltd.

Far East Horizon Ltd

First Trust MLP & Energy Income Fund Com

Fei Protocol - United States Dollar

FlexShares ESG & Climate Investment Grade Corporate Core Index Fund

FIDELITY SUS EUR CORP BOND ETF INC

Frequency Electronics, Inc. - Common Stock

Frequency Electronics Inc

FEINTOOL INTL HLDG REG SH by Feintool International Holding Ag Lyss

Feintool International Holding AG

CORELLA RES LTD by CORELLA RES LTD

Fidelity Covington Trust Fidelity Enhanced Large Cap Core ETF

Franklin Electric Co., Inc. - Common Stock

Franklin Electric Co Inc

Fidelity Covington Trust Fidelity Enhanced Large Cap Growth ETF

FUJI ELECTRIC CO LTD by Fuji Electric Company Ltd.

Fuji Electric Co Ltd

FUJI ELECTRIC UNSP/ADR by Fuji Electric Company Ltd.

Fidelity Covington Trust Fidelity Enhanced Large Cap Value ETF

First Trust Emerging Markets AlphaDEX Fund

First Trust Emerging Markets Local Currency Bond ETF

FIDELI ICAV ETF

FE BATTERY METALS CORP by FE BATTERY METALS CORP.

FE Battery Metals Corp

FIDELITY EM ETF

FIDELITY SUSTAINABLE RESEARCH  ETF

First Trust Emerging Markets Small Cap AlphaDEX Fund

FIRST TRUST GLOBAL ETF

Femasys Inc

First Trust Energy Income & Growth Fund Com

Fennec Pharmaceuticals Inc. - Common Stock

Fennec Pharmaceuticals Inc

Phoenix New Media Limited American Depositary Shares, each representing 48 Class A ordinary shares.

Phoenix New Media Ltd

Fidelity Covington Trust Fidelity Enhanced International ETF

Fidelity MSCI Energy Index ETF

OCEANIC IRON ORE CORP NEW by Oceanic Iron Ore Corp.

Oceanic Iron Ore Corp

LLOYD FOCUSED EQUITY ACC ETF USD

First Trust Europe AlphaDEX Fund

REX FANG & Innovation Equity Premium Income ETF

FAR EAST PHARM TECH S/ADR by Far East Pharmaceutical Technology

Ferrovial SE

Ferguson Enterprises Inc

FEARLESS FILMS INC by FEARLESS FILMS, INC.

Fearless Films Inc

Fernhill Corp

Fidelity Covington Trust Fidelity Enhanced Small Cap ETF

First Real Estate Investment Trust

HYBRID KINETIC GRP ORD by Hybrid Kinetic Group Ltd

Hybrid Kinetic Group Ltd

Forum Energy Technologies, Inc. Common Stock

Forum Energy Technologies Inc

Fetch.AI - United States Dollar

Fidelity Ethereum Fund Fidelity Ethereum Fund

FIDELITY ADVNTG ETHER SRS L UNT ETF

FENTURA FINANCIAL INC by Fentura Financial, Inc.

Fentura Financial Inc

FlexShares ESG & Climate US Large Cap Core Index Fund

First Trust Eurozone AlphaDEX ETF

RealFevr

FAR EAST WIND POWER CORP by Far East Wind Power Corp.

Far East Wind Power Corp

First Trust Large Cap Core AlphaDEX Fund

Fintech Ecosystem Development Corp

Fintech Ecosystem Development Corp.

FINTECH ECOSYSTEM DEVELOPMENT CORP RT

Fintech Ecosystem Development Corp Units (1 Ord Share Class A, 1 Right & 1/2 War)

Fintech Ecosystem Development Corp Warrants (01/04/2026)

FENIX RES LTD by FENIX RES LTD

FT US LRGE CAP CORE ALPHADX UCTS ETF

FJORDLAND EXPLOR LTD ORD by Fjordland Exploration Ltd.

Fjordland Exploration Inc

SPDR DJ Euro STOXX 50 Etf

FAR EAST HORIZON LTD by Far East Horizon Ltd.

Argus Research analyst Jacob Kilstein upgrades FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) from Hold to Buy and announces $50 price target.

Upgrades

Price Target

Argus Research Upgrades FirstEnergy to Buy, Announces $50 Price Target

FirstEnergy Pennsylvania Electric Company Reaches $225M Settlement In Base Rate Review, Expanding Bill Assistance For Low-Income Customers And Supporting Electric Grid Investments; Settlement Pending Approval From Pennsylvania Public Utility Commission

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 $45 to $46.

Keybanc Maintains Overweight on FirstEnergy, Raises Price Target to $46

The company&#39;s previously disclosed&nbsp;second quarter&nbsp;earnings materials indicated that it had taken a reserve of&nbsp;$100 million&nbsp;in the&nbsp;second quarter&nbsp;of 2024 in anticipation of the agreement with the SEC.

FirstEnergy Reaches Settlement Agreement With SEC To Resolve Its Previously Disclosed Investigation; To Pay Civil Penalty Of $100M

FirstEnergy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) short percent of float has fallen 4.18% since its last report. The company recently reported that it has 11.14 million shares sold short, which is 2.52% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.43 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/2024/1725904812_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 1.30%, 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

Peering Into FirstEnergy's Recent Short Interest

B of A Securities analyst Julien Dumoulin-Smith maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Underperform and raises the price target from $42 to $43.

B of A Securities Maintains Underperform on FirstEnergy, Raises Price Target to $43

Morgan Stanley analyst Stephen Byrd 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 $45 to $48.

Morgan Stanley Maintains Overweight on FirstEnergy, Raises Price Target to $48

As of Aug 21, 2024, two stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock&#8217;s strength on days when prices go up to its strength on days when prices go down. When compared to a stock&#8217;s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the <a href="https://www.benzinga.com/topic/rsi">RSI is above 70</a>, according to <a href="https://pro.benzinga.com/">Benzinga Pro</a>. 
Here's the latest list of major overbought players in this sector.
<h3 class="wp-block-heading">Sunnova Energy International Inc (NYSE: &nbsp;NOVA)</h3>
<ul>
<li>On Aug. 21, Morgan Stanley analyst Andrew Percoco maintained Sunnova Energy Intl with an Equal-Weight and raised the price target from $11 to $13. The company's stock gained around 21% over the past five days and has a <a href="https://www.benzinga.com/quote/NOVA">52-week high of $16.36</a>.</li>
<li>RSI Value: 70.07&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</li>
<li>NOVA Price Action: Shares of Sunnova Energy gained 0.4% to close at $9.67 on Tuesday.</li>
</ul>
<h3 class="wp-block-heading">FirstEnergy Corp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>)</h3>
<ul>
<li>On Aug. 20, Scotiabank analyst Andrew Weisel maintained FirstEnergy with a Sector Perform and raised the price target from $40 to $45. The company's stock gained around 9% over the past month and <a href="https://www.benzinga.com/quote/FE">has a 52-week high</a> of $43.65.</li>
<li>RSI Value: 74.15</li>
<li>FE Price Action: Shares of FirstEnergy gained 0.8% to close at $43.19 on Tuesday.</li>
</ul>
Read More: 
<ul>
<li><a href="https://www.benzinga.com/markets/24/08/40480372/wall-streets-most-accurate-analysts-weigh-in-on-3-real-estate-stocks-with-over-5-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Weigh In On 3 Real Estate Stocks With Over 5% Dividend Yields</a></li>
</ul>

Scotiabank analyst Andrew Weisel maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Sector Perform and raises the price target from $40 to $45.

Scotiabank Maintains Sector Perform on FirstEnergy, Raises Price Target to $45

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 $43 to $45.

Keybanc Maintains Overweight on FirstEnergy, Raises Price Target to $45

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 $43 to $45.

JP Morgan Maintains Neutral on FirstEnergy, Raises Price Target to $45

Wells Fargo analyst Neil Kalton 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 $42 to $45.

Wells Fargo Maintains Equal-Weight on FirstEnergy, Raises Price Target to $45

FirstEnergy provided a third quarter earnings guidance range of $490 million to&nbsp;$547 million, or $0.85 to $0.95 per share. The company also affirmed its 2024 operating (non-GAAP) earnings guidance range of $2.61 to $2.81 per share, and its long-term, 6% to 8% targeted annual operating earnings growth rate, which is based off the previous year's operating earnings guidance midpoint and supported by the company's refreshed and extended $26 billion, five-year capital investment plan, Energize365.

Guidance

FirstEnergy Sees Q3 EPS $0.85-$0.95 Vs $0.89 Est.; FY24 EPS $2.61-$2.81 Vs $2.69 Est.

FirstEnergy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fe#NYSE">FE</a>) reported quarterly earnings of $0.56 per share which met the analyst consensus estimate. This is a 19.15 percent increase over earnings of $0.47 per share from the same period last year. The company reported quarterly sales of $3.28 billion which missed the analyst consensus estimate of $3.38 billion by 2.96 percent. This is a 9.12 percent increase over sales of $3.01 billion the same period last year.

FirstEnergy Q2 Adj $0.56, Inline, Sales $3.28B Miss $3.38B Estimate

Deploys final $1.2 billion in proceeds to further strengthen balance sheet,&nbsp;supporting sustainable, long-term growth through industry-leading&nbsp;Energize365 grid investment program &nbsp;
AKRON, Ohio, July 17, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) announced today that it received the remaining $1.2 billion in proceeds from the $3.5 billion sale of a 30% ownership interest in its FirstEnergy Transmission, LLC (FET) subsidiary to Brookfield Super-Core Infrastructure Partners (Brookfield). FirstEnergy received the initial proceeds of $2.3 billion from Brookfield when the transaction closed in March. The remaining $1.2 billion in interest-bearing notes were extinguished with Brookfield's final payment on July 17.
FirstEnergy is deploying these proceeds in a credit-accretive manner, consistent with the company's plan to further transform its balance sheet and support its five-year, $26 billion Energize365 grid investment program.
Since late 2021, FirstEnergy has completed approximately $7 billion in strategic equity financings at an equivalent share price of $87 per share, or 36x trailing price-to-earnings valuation. Following the closing of this transaction in March, FirstEnergy's corporate credit rating was upgraded by Moody's and S&amp;P, restoring it to investment grade at all three ratings agencies. The credit ratings at the company's subsidiaries were also upgraded.&nbsp;

Contracts

Asset Sales

FirstEnergy Received The Remaining $1.2B In Proceeds From The $3.5B Sale Of A 30% Ownership Interest In Its FirstEnergy Transmission, LLC

PG&amp;E Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/pcg#NYSE">PCG</a>) 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.
Let&#39;s focus on the factors that make this Zacks Rank #2 (Buy) stock a good investment option at the moment.
<h3>Rising Estimates</h3>
The Zacks Consensus Estimate for PCG&#39;s 2024 and 2025 earnings per share implies growth of 9.8% and 8.4%, respectively, from the year-ago levels.
The Zacks Consensus Estimate for PCG&#39;s 2024 and 2025 sales indicates a rise of 4.9% and 4.1%, respectively, from the prior-year figures.
<h3>Better-Than-Industry Returns&nbsp;</h3>
PCG&#39;s return on invested capital has outperformed the industry&#39;s average in the trailing 12 months. ROIC of PCG was 5.05% compared with the industry average of 3.41%. The company has been investing effectively in profitable projects, which is evident from its ROIC.
PCG&#39;s trailing 12-month return on equity is 11.32%, ahead of the industry&#39;s average of 9.72%. Return on equity, a profitability measure, reflects how effectively a company utilizes its shareholders&#39; funds to generate income.
<h3>Capital Expenditure</h3>
PG&amp;E continues to make considerable investments in gas-related projects and electric system safety and reliability to further strengthen its grid and thereby boost customer satisfaction. To this end, the company invested $9.8 billion in 2023. Looking ahead, management aims to make investments worth $10.4 billion in 2024. For 2024-2028, the company expects to invest $62 billion.
<h3>Solvency Ratio</h3>
The times interest earned ratio at the end of first-quarter 2024 is 1.42, which indicates financial strength of the company and its ability to meet short-term obligations or dues within the next 12 months.
<h3>Price Movement</h3>
In the past three months, PCG&#39;s shares have risen 6.3% compared with the&nbsp;industry&#39;s growth of 3.6%.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b7/71087.jpg?v=919184366" />
Image Source: Zacks Investment Research
<h3>Other Key Picks</h3>
Some other top-ranked stocks from the same industry are CenterPoint Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/cnp#NYSE">CNP</a>), FirstEnergy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fe#NYSE">FE</a>) and Consolidated Edison (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ed#NYSE">ED</a>), each carrying a Zacks Rank #2 at present.
The Zacks Consensus Estimate for CenterPoint Energy, FirstEnergy and Consolidated Edison&#39;s 2024 earnings reflects year-over-year growth of 8%, 5.1% and 3.1%, respectively.
The long-term (three-to-five years) earnings growth rate of CenterPoint Energy, FirstEnergy, and Consolidated Edison is 7%, 5.9% and 7.4%, respectively.
<a href="https://www.zacks.com/stock/news/2300081/reasons-to-add-pg-e-pcg-stock-to-your-portfolio-now?cid=CS-BENZ-FT-analyst_blog|rank_focused-2300081">To read this article on Zacks.com click here.</a>

Reasons to Add PG&E Stock to Your Portfolio Now

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 $39 to $40.

Barclays Maintains Equal-Weight on FirstEnergy, Raises Price Target to $40

Chicago, IL &ndash; July 1, 2024 &ndash; Zacks Equity Research shares Vistra (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/vst#NYSE">VST</a>) as the Bull of the Day and MasterCraft Boat Holdings, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mcft#NASDAQ">MCFT</a>) as the Bear of the Day. In addition, Zacks Equity Research provides analysis on Dominion Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/d#NYSE">D</a>), NextEra Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nee#NYSE">NEE</a>) and FirstEnergy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fe#NYSE">FE</a>).
Here is a synopsis of all five stocks:
<h3>Bull of the Day:</h3>
Vistra stock skyrocketed 125% in the first half of 2024, lagging only Super Micro Computer and Nvidia as the top-performing S&amp;P 500 company.
Vistra is thriving as Wall Street embraces the companies that will power the U.S. as the country attempts to transition away from fossil fuels at the same time as the artificial intelligence boom sends energy demand soaring.
Vistra is the largest competitive power generator in the country and it&#39;s gone all in on nuclear and other alternative energy sources poised to power the world in the coming decades. VST&#39;s earnings and revenue growth outlook is impressive and its most recent EPS estimates showcase even stronger bottom-line expansion.
On top of that, Vistra&#39;s recent pullback sets investors up to buy VST stock at a great entry point.
<h3>The Energy Transition Megatrend</h3>
AI grabbed the lion&#39;s share of the headlines so far this year. Yet three of the seven top-performing S&amp;P 500 stocks in the first half of 2024 were new-age energy companies, including Vistra.
Wall Street giants like Goldman Sachs view the global energy transition as one of the most important pillars of the U.S. economy during the coming decades.
Alternative energy accounts for roughly 80% of global energy investment growth, and the International Energy Agency estimates that $2 trillion will be spent on clean energy technologies and infrastructure in 2024 alone, across wind, solar, energy storage, nuclear, the electricity grid, and beyond.
Nuclear is rapidly gaining steam as part of the non-fossil fuel energy push as wealthy nations, tech giants, venture capitalists, and beyond finally realize its reliability and nearly boundless potential must be unleased. Microsoft and other firms have partnered directly with nuclear energy companies to fuel their AI-focused data center expansion.
The U.S. co-led in December 2023 a coalition of over 20 countries from four continents that pledged to triple nuclear energy capacity by 2050. This effort is part of a huge push from the U.S. government to spur spending and investment across non-fossil fuel energy.
<h3>VST 101</h3>
Vistra is an integrated retail electricity and power generation company. VST&#39;s portfolio includes natural gas and coal, which remain vital, as well as nuclear, solar, and battery energy storage facilities.
VST closed its acquisition of Energy Harbor in March to boost its zero-carbon generation portfolio. Vistra added a 4,000-megawatt nuclear generation fleet and roughly 1 million additional retail customers. The Energy Harbor deal transformed Vistra into one of the foremost integrated zero-carbon generation and retail electricity companies.
Vistra owns four nuclear generation facilities, generating enough zero-carbon baseload electricity to power 3.2 million U.S. homes. Vistra owns the second-largest competitive nuclear fleet and boasts the second-largest energy storage capacity in the country. This includes one of the world&#39;s largest battery energy storage facilities. Vistra is also actively expanding its portfolio of solar assets.
Vistra said last quarter that the U.S. Inflation Reduction Act provides the opportunity to &quot;realize material benefits with respect to its renewables and energy storage projects, as well as provide strong price support via the nuclear production tax credit for its nuclear facilities.&quot;
Vistra earlier this year started construction on two of its three larger Illinois combined solar and energy storage projects, as part of the state&#39;s Coal to Solar and Energy Storage Initiative.
<h3>Growth Outlook and EPS Revisions </h3>
The Irving, Texas-based firm currently serves approximately 5 million residential, commercial, and industrial retail customers across 20 states, including every major competitive wholesale market.
Vistra is projected to grow its revenue by 15% in 2024 and another 11% next year to reach $18.85 billion in fiscal 2025.
More importantly, Vistra is projected to grow its adjusted earnings by 10% this year and 36% next year, based on current Zacks estimates. The company&#39;s earnings revisions have surged over the past 12 months, with its FY24 consensus up 25% from where it was this time last year, while its FY25 estimate has climbed 34%.
Better still, Vistra&#39;s most accurate/recent EPS estimates came in way above consensus. VST&#39;s most accurate Zacks estimate for FY24 is 20% above the already greatly improved consensus at $4.74 a share vs. $3.95, with FY25&#39;s 17% higher. Vistra&#39;s surging earnings estimate revisions help it land a Zacks Rank #1 (Strong Buy).
<h3>Performance and Technical Levels</h3>
Vistra shares soared roughly 125% during the first six months of 2024, lagging only Super Micro Computer and Nvidia&nbsp;in the S&amp;P 500. VST&#39;s performance also crushed fellow nuclear energy standout Constellation Energy&#39;s (CEG) 75%.
Vistra&#39;s market-crushing performance is part of a 275% run in the last two years and a 230% climb over the past 12 months, blowing away Nvidia&#39;s 205% and Constellation Energy&#39;s 125%.
Investors who missed this stretch can buy VST 20% below its late May peaks. VST is also trading 32% below its average Zacks price target. Vistra is attempting to hold its ground at its 50-day moving average while trading at its lowest RSI levels since the market bottomed in October.
<h3>Bottom Line</h3>
Vistra is poised to thrive as more of Wall Street grasps that VST and a few other key energy companies are set to benefit directly from soaring AI-based energy demand as the U.S. attempts to transition away from fossil fuels.
The momentum behind alternative, clean, and renewable energy is monumental and seemingly unstoppable. Vistra stock helps investors gain exposure to that key megatrend. Plus, Vistra pays a dividend and trades at a 35% discount to the Utilities sector and 37% below Constellation Energy with a PEG ratio of 1.06.
<h3>Bear of the Day:</h3>
MasterCraft Boat Holdings, Inc. shares have tumbled 37% in the last year, including a 16% YTD drop. MasterCraft Boat is suffering from slowing demand and other setbacks after a booming post-Covid stretch.
MCFT&#39;s earnings outlook has plummeted during the last 12 months, dropping meaningful lower following its Q3 FY24 release in early May.
<h3>MasterCraft Boat Basics</h3>
MasterCraft Boat is one of the powerhouses of the recreational boating world. The company is a leading designer, manufacturer, and marketer of recreational powerboats through its four brands: MasterCraft, Crest, Aviara, and Balise.
MasterCraft Boat holds a leading market share in performance sport boats and pontoon boats, two of the fastest-growing segments of the powerboat industry. MasterCraft Boat is also expanding in the large, growing luxury day boat segment.
MasterCraft Boat posted 28% revenue growth in its fiscal 2021 and 38% stronger sales in FY22. The company posted 3% sales expansion in FY23, as it came under pressure from those difficult to compete against periods.
MasterCraft Boat benefitted from the Covid-based spending spree. But anyone who wanted to buy a boat over the last few years seemingly already did. Consumers are now spending heavily on travel and experiences. On top of that, the macroeconomic landscape is far different.
MasterCraft Boat CEO Brad Nelson said last quarter that a &quot;competitor&#39;s largest dealer is in financial distress, which has heightened competitive pressure with the potential for higher-than-normal competitor discounting. Dealer inventories remain higher-than-optimal and inventory carrying costs are elevated. Consequently, dealers are taking a cautious approach to ordering ahead of the annual model year changeover.&quot;
<h3>Bottom Line</h3>
MasterCraft Boat&#39;s recent setbacks are part of a long-term downtrend that&#39;s seen its consensus FY24 earnings estimate fall roughly 70% in the past 12 months, while its FY25 estimate is over 50% worse. MasterCraft Boat&#39;s overall downward earnings revisions help it land a Zacks Rank #5 (Strong Sell) right now.
MasterCraft Boat shares are down 8% over the past five years vs. the S&amp;P 500&#39;s 90% climb. MCFT is not alone in its struggles, with the broader Zacks Consumer Discretionary sector down 20% during the last five years.
MasterCraft Boat trades below its 21-day, 50-day, and 200-day moving averages. MCFT also trades at a 62% premium to its three-year median at 11.X forward 12-month earnings. Now might not be the best time to think about buying MasterCraft Boat.
<h3>Additional content:</h3>
<h3>U.S. Utilities Prepare for Above-Average Hurricane Season</h3>
The Atlantic Hurricane season spans from Jun 1 to Nov 30 and brings severe storms, which impact the electric supply infrastructure of the utility companies. Nature&#39;s fury is unpredictable and to reduce the impact of severe weather conditions, utilities have invested millions of dollars in fortifying their infrastructure.
For 2024, the National Oceanic and Atmospheric Administration has predicted an 85% chance of an above-normal hurricane season, with 17-25 named storms and eight to 13 hurricanes, including four to seven major hurricanes. This year&#39;s forecast is around 30% more storm activity compared to the number of storms predicted last year.
Thanks to the improvement in weather forecasts and technology, utilities can locate areas in their service territories that are historically prone to severe weather conditions. Utilities have been working on a multi-year infrastructure strategy to strengthen the electric grid, making it resilient enough to withstand the challenges posed by severe weather conditions.
Electric utilities are burying outage-prone electric service lines, managing vegetation near power lines and installing smart equipment that can detect outages quickly and automatically take corrective actions. Utilities are also working to save essential equipment in flood-prone areas and strengthen the poles and wires that need to withstand the fury of nature.
Utilities upgrade and strengthen electric infrastructure work throughout the year to improve their quality of service and provide service even during difficult weather conditions.
<h3>Utilities Taking Initiatives</h3>
Measures taken by a few utilities to counter the hurricane season are mentioned below.
Dominion Energy has been investing steadily to upgrade its infrastructure. Dominion&#39;s unit Dominion Energy Virginia has completed burying 2,000 miles of overhead power lines, which is part of the company&#39;s Strategic Underground Program. The shifting of power lines underground will lower storm-related outages and reduce the time for restoration of power in outage-prone areas during the hurricane season.
NextEra Energy has a comprehensive and flexible storm response plan. NextEra Energy unit Florida Power &amp; Light Company has invested in a stronger, smarter and more storm-resilient energy grid that benefits customers by improving the speed of restoration and reducing outage times following severe weather. The company has invested in a smart grid, buried power lines and replaced nearly all of its transmission structures with steel or concrete.
FirstEnergy is also regularly making investments to strengthen its transmission and distribution network. The company is also using helicopters to inspect the transmission lines. The purpose of the inspections is to search for equipment issues that are not apparent from the ground and faults that are not visible from the ground. FirstEnergy also uses thermovision cameras to take infrared pictures of electrical equipment, assisting in the identification of possible issues in power lines.
All these stocks currently carry a Zacks Rank #3 (Hold).
<h3>Price Performance</h3>
Each of the stocks mentioned above has performed better than the industry in the past six months.
<h3>Round Up</h3>
We require a 24X7 supply of electricity to smoothly continue our daily chores but the devastation caused by hurricanes can disrupt the power supply. Global warming has made these storms even more destructive. Yet, investors should note that utilities have been bracing their stocks against any upheaval that these storms might trigger.
Zacks.com provides investment resources and informs you of these resources, which you may choose to use in making your own investment decisions. Zacks is providing information on this resource to you subject to the Zacks &quot;Terms and Conditions of Service&quot; disclaimer.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss.This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed&nbsp;that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and&nbsp;is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&amp;P 500 is an unmanaged index.
<a href="https://www.zacks.com/stock/news/2295507/vistra-and-mastercraft-boat-have-been-highlighted-as-zacks-bull-and-bear-of-the-day?cid=CS-BENZ-FT-press_releases-2295507">To read this article on Zacks.com click here.</a>

FirstEnergy Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/fe#NYSE">FE</a>) and its transmission subsidiaries completed the necessary inspection and maintenance of its transmission system. The idea was to ensure that FE&#39;s transmission lines could operate efficiently during the summer, and potentially severe weather and hurricanes that come with the season. 
The National Oceanic and Atmospheric Administration has predicted an 85% chance of an above-normal hurricane season, with 17-25 named storms and eight to 13 hurricanes, including four to seven major hurricanes. FE&#39;s unit Jersey Central Power &amp; Light&#39;s crews are prepared to respond in the event of severe weather or hurricanes that may affect the area this summer. 
FirstEnergy uses thermovision cameras to take infrared pictures of electrical equipment, assisting in the identification of possible issues in power lines and substations. Utility workers complete more detailed inspections and make repairs in these areas to prevent potential power outages.
<h3>Need for Investments &amp; Maintenance</h3>
The company&#39;s strategic investment is focused on infrastructure upgrades that should help serve its customers more efficiently. FirstEnergy&#39;s &lsquo;Energize365&#39; is a multi-year grid evolution platform, focused on enhancing customer experience while maintaining its strong affordability position with rates at or below its in-state peers. With planned investments of $26 billion between 2024 and 2028, the company is set to install advanced equipment and technologies that will strengthen and modernize its transmission and distribution infrastructure. 
A rise in temperature not only increases the demand for electricity but also poses a threat to electric infrastructure due to overheating, amplifying the risk of equipment failures and fires. These inspections and maintenance tasks are crucial to maintaining service reliability and ensuring customer satisfaction. 
This spring, helicopter patrols inspected almost 6,170 miles of high-voltage power lines, in addition to routine visual inspections conducted from the ground. The purpose of the inspections is to search for equipment issues that are not apparent from the ground. Any potential reliability issues identified during the inspections are addressed as quickly as possible. 
Since the beginning of the year, tree contractors have trimmed along 4,415 miles of power lines as part of FirstEnergy&#39;s vegetation management program. Work remains on schedule to complete an additional 8,860 miles by the end of the year. Maintaining proper clearances around electrical equipment is critical to providing safe, reliable electric service. It can also help reduce the frequency and duration of tree-related power outages. 
These initiatives should increase the possibility of providing uninterrupted electricity to customers even during storms and hurricanes, and generate more earnings for the company.
<h3>Utilities&#39; Focus on Infrastructure Upgrade</h3>
In order to provide reliable services to customers, utilities make systematic investments to upgrade transmission and distribution lines and develop new substations. The objective is to warrant a proper supply of electricity to millions of customers across the United States. 
Along with FirstEnergy, other electric power companies like Dominion Energy (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/d#NYSE">D</a>), Exelon Corporation (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/exc#NASDAQ">EXC</a>) and Xcel Energy, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/xel#NASDAQ">XEL</a>), are adopting measures to strengthen their existing infrastructure. 
In June 2024, D&#39;s unit, Dominion Energy Virginia, completed burying 2,000 miles of overhead power lines, which is part of the company&#39;s Strategic Underground Program. The shifting of power lines underground should lower storm-related outages and reduce the time for power restoration in outage-prone areas during the hurricane season. 
D&#39;s long-term (three to five years) earnings growth rate is 13.6%. The Zacks Consensus Estimate for 2024 earnings per share&nbsp;implies a year-over-year improvement of 38.2%. 
Exelon invests substantially in infrastructure projects and plans to invest nearly $34.5 billion during 2024-2027 in regulated utility operations. The company is set to invest $21 billion in electric distribution and $9.7 billion in electric transmission in the 2024-2027 time frame to further strengthen its operations. 
EXC&#39;s long-term earnings growth rate is 5.7%. The Zacks Consensus Estimate for 2024 EPS implies a year-over-year improvement of 1.7%. 
Xcel Energy plans to invest nearly $22.1 billion in further strengthening its electric distribution and transmission operations in the 2024-2028 time period. 
XEL&#39;s long-term earnings growth rate is 6.4%. The Zacks Consensus Estimate for 2024 EPS implies a year-over-year improvement of 6.3%.
<h3>Price Performance</h3>
In the past six months, shares of FirstEnergy have risen 6.3% against the industry&#39;s 2.3% decline.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/b0/69461.jpg?v=1980820209" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank</h3>
FirstEnergy currently carries a Zacks Rank #2 (Buy).
<a href="https://www.zacks.com/stock/news/2292684/firstenergy-fe-boosts-infrastructure-for-summer-heat-storms?cid=CS-BENZ-FT-analyst_blog|company_news_corporate_actions-2292684">To read this article on Zacks.com click here.</a>

FirstEnergy Boosts Infrastructure for Summer Heat & Storms

Morgan Stanley analyst Stephen Byrd 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 $46 to $44.

Morgan Stanley Maintains Overweight on FirstEnergy, Lowers Price Target to $44

Morgan Stanley analyst David Arcaro maintained a Buy rating on FirstEnergy (FE – Research Report) today and set a price target of $48.00. The compa...

FirstEnergy (FE) Receives a Buy from Morgan Stanley

Bank of America Securities analyst Paul Cole maintained a Sell rating on FirstEnergy (FE – Research Report) today. The company's shares opened toda...

Bank of America Securities Reaffirms Their Sell Rating on FirstEnergy (FE)

Scotiabank analyst Andrew Weisel maintained a Hold rating on FirstEnergy (FE – Research Report) today and set a price target of $45.00. The company...

FirstEnergy (FE) Gets a Hold from Scotiabank

Ameren: A Few Improvements, But Still Looks Expensive

Northwestern Energy: Doing Better Than The Stock Price Performance Suggests

An update from FirstEnergy ( ($FE) ) is now available. FirstEnergy Corp. has settled with the SEC, agreeing to pay a $100 million civil penalty and...

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Get Our Top Trade Ideas Delivered Daily - 65% Off Now

Comments

FirstEnergy

FirstEnergy (FE) Forecast

FirstEnergy (NYSE:FE) Stock, Quote.Headers.trade-ideas