FirstEnergy (NYSE:FE) Sees Unusually-High Trading Volume Following Better-Than-Expected Earnings

FirstEnergy Corp. (NYSE:FEGet Free Report) saw unusually-high trading volume on Friday after the company announced better than expected quarterly earnings. Approximately 2,562,864 shares changed hands during mid-day trading, a decline of 35% from the previous session’s volume of 3,936,224 shares.The stock last traded at $37.13 and had previously closed at $35.79.

The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02. The company had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FirstEnergy had a return on equity of 13.53% and a net margin of 8.56%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 EPS.

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 7th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Tuesday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 90.61%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FE. KeyCorp raised their price objective on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. Finally, Morgan Stanley reduced their price objective on FirstEnergy from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.67.

View Our Latest Analysis on FirstEnergy

Insiders Place Their Bets

In other news, SVP Christine Walker sold 12,500 shares of the firm’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $37.58, for a total transaction of $469,750.00. Following the transaction, the senior vice president now directly owns 36,959 shares of the company’s stock, valued at $1,388,919.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.08% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FE. SageView Advisory Group LLC boosted its position in shares of FirstEnergy by 12.5% in the 4th quarter. SageView Advisory Group LLC now owns 16,185 shares of the utilities provider’s stock valued at $595,000 after purchasing an additional 1,799 shares during the period. Commerce Bank boosted its position in shares of FirstEnergy by 0.8% in the 4th quarter. Commerce Bank now owns 63,819 shares of the utilities provider’s stock valued at $2,340,000 after purchasing an additional 516 shares during the period. US Bancorp DE boosted its position in shares of FirstEnergy by 3.0% in the 4th quarter. US Bancorp DE now owns 64,573 shares of the utilities provider’s stock valued at $2,367,000 after purchasing an additional 1,866 shares during the period. Frazier Financial Advisors LLC acquired a new position in shares of FirstEnergy in the 4th quarter valued at $60,000. Finally, Franklin Resources Inc. boosted its position in shares of FirstEnergy by 53.9% in the 4th quarter. Franklin Resources Inc. now owns 3,307,995 shares of the utilities provider’s stock valued at $121,271,000 after purchasing an additional 1,158,034 shares during the period. 82.34% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Price Performance

The stock has a market capitalization of $21.41 billion, a price-to-earnings ratio of 20.61 and a beta of 0.49. The company has a current ratio of 0.53, a quick ratio of 0.43 and a debt-to-equity ratio of 2.09. The stock has a 50-day simple moving average of $37.07 and a 200 day simple moving average of $36.50.

FirstEnergy Company Profile

(Get Free Report)

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, wind, and solar power generating facilities.

Read More

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.