Short sellers have reduced FirstEnergy positions by 6.5% over the past month to 4.4% of float as the utility prepares to report Q1 results on April 28. Cost to borrow remains minimal at 0.46%, down from 0.49% a week ago.
Short interest stands at 25.4 million shares as of April 23, representing 4.39% of the free float. The position has declined steadily through April, dropping 1.5% over the past week alone. Days to cover sits at 6.88 based on the most recent FINRA fortnightly data. Utilization is 8.26%, well below the 52-week high of 12.41%. Borrowing remains cheap at 0.46% APR.
The put/call ratio is 0.61, sitting 1.6 standard deviations below the 20-day mean of 0.66. This represents the lowest PCR reading since late March and a notable bullish tilt heading into the print. The 52-week range spans 0.49 to 1.50.
Seven analysts have raised price targets since January, with the average target now at $53.29. TD Cowen initiated coverage April 17 with a Hold rating and $56 target. Jefferies raised its target to $52 from $50 on April 21, maintaining Hold. JP Morgan lifted its Neutral-rated target to $55 from $50 in March. Barclays remains the most bullish, raising its Overweight target to $53 from $50 on April 8. Scotiabank carries a Sector Outperform rating with a $56 target.
FE trades at 17.7× earnings, down slightly from 17.9× a month ago. The P/B ratio is 2.08, up 0.03 points over 30 days. EV/EBITDA stands at 11.1×. The stock ranks in the 92nd percentile on forward EPS growth momentum and the 88th percentile on dividend quality. EPS momentum scores sit at the 55th and 56th percentiles for 30- and 90-day windows.
Insiders sold $16.9 million net over the past 90 days, led by CFO K. Jon Taylor's $2.5 million in March sales. Capital Research owns 13.4% after adding 730,000 shares in January. Vanguard holds 11.8% and BlackRock 8.3%, both adding shares in Q1.
The company last reported February 18. Prior prints occurred in October and July 2025. The stock has traded in a narrow range around $50 through the first quarter of 2026.
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