Seaport Res Ptn Comments on FirstEnergy Corp.’s FY2022 Earnings (NYSE:FE)

FirstEnergy Corp. (NYSE:FEGet Rating) – Investment analysts at Seaport Res Ptn upped their FY2022 earnings per share estimates for shares of FirstEnergy in a research note issued to investors on Friday, September 16th. Seaport Res Ptn analyst A. Storozynski now anticipates that the utilities provider will earn $2.45 per share for the year, up from their previous estimate of $2.43. The consensus estimate for FirstEnergy’s current full-year earnings is $2.41 per share. Seaport Res Ptn also issued estimates for FirstEnergy’s FY2023 earnings at $2.57 EPS, FY2024 earnings at $2.76 EPS and FY2025 earnings at $2.92 EPS.

Several other equities analysts have also recently commented on FE. Wells Fargo & Company reduced their price target on shares of FirstEnergy from $49.00 to $44.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 28th. Barclays dropped their price objective on shares of FirstEnergy from $49.00 to $41.00 and set an “equal weight” rating on the stock in a research note on Monday, July 18th. Morgan Stanley increased their price objective on shares of FirstEnergy from $49.00 to $53.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 23rd. Mizuho dropped their price objective on shares of FirstEnergy from $41.00 to $40.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 7th. Finally, StockNews.com lowered shares of FirstEnergy from a “buy” rating to a “hold” rating in a research note on Thursday, August 4th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $45.75.

FirstEnergy Stock Performance

Shares of FE stock opened at $41.20 on Monday. The company has a debt-to-equity ratio of 1.84, a quick ratio of 0.66 and a current ratio of 0.75. FirstEnergy has a one year low of $35.32 and a one year high of $48.85. The company’s 50-day simple moving average is $39.71 and its 200-day simple moving average is $41.66. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 2.69 and a beta of 0.44.

FirstEnergy (NYSE:FEGet Rating) last posted its quarterly earnings data on Tuesday, July 26th. The utilities provider reported $0.53 earnings per share for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. FirstEnergy had a net margin of 11.78% and a return on equity of 15.13%. During the same period in the previous year, the company posted $0.59 earnings per share.

FirstEnergy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, September 1st. Investors of record on Friday, August 5th were issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a yield of 3.79%. The ex-dividend date was Thursday, August 4th. FirstEnergy’s payout ratio is 63.41%.

Institutional Trading of FirstEnergy

A number of large investors have recently added to or reduced their stakes in the business. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in FirstEnergy by 15.9% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 16,830 shares of the utilities provider’s stock worth $772,000 after purchasing an additional 2,308 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in FirstEnergy by 5.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 99,266 shares of the utilities provider’s stock worth $4,552,000 after purchasing an additional 5,561 shares during the period. Private Advisor Group LLC boosted its stake in FirstEnergy by 2.0% in the 1st quarter. Private Advisor Group LLC now owns 25,462 shares of the utilities provider’s stock worth $1,167,000 after purchasing an additional 496 shares during the period. Independent Advisor Alliance boosted its stake in FirstEnergy by 53.9% in the 1st quarter. Independent Advisor Alliance now owns 10,415 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 3,646 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its stake in FirstEnergy by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,885,158 shares of the utilities provider’s stock worth $119,994,000 after purchasing an additional 83,142 shares during the period. 87.20% of the stock is currently owned by institutional investors.

FirstEnergy Company Profile

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FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.

Further Reading

Earnings History and Estimates for FirstEnergy (NYSE:FE)

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