Q4 2024 Earnings Forecast for FirstEnergy Corp. (NYSE:FE) Issued By Zacks Research

FirstEnergy Corp. (NYSE:FE) – Analysts at Zacks Research boosted their Q4 2024 EPS estimates for FirstEnergy in a report released on Tuesday, April 23rd. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings of $0.63 per share for the quarter, up from their previous estimate of $0.60. The consensus estimate for FirstEnergy’s current full-year earnings is $2.66 per share. Zacks Research also issued estimates for FirstEnergy’s Q2 2025 earnings at $0.68 EPS, Q3 2025 earnings at $0.89 EPS, Q1 2026 earnings at $0.81 EPS and FY2026 earnings at $3.08 EPS.

FirstEnergy (NYSE:FE) last released its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the firm earned $0.50 EPS. The company’s revenue was up .0% compared to the same quarter last year.

FE has been the subject of several other reports. Scotiabank reduced their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Monday. KeyCorp upped their price target on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research report on Thursday, January 4th. The Goldman Sachs Group began coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price objective for the company. StockNews.com lowered shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Finally, Bank of America increased their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $39.80.

FirstEnergy Trading Up 0.7 %

Shares of FirstEnergy stock opened at $38.58 on Wednesday. The stock has a market capitalization of $22.20 billion, a P/E ratio of 21.32 and a beta of 0.48. FirstEnergy has a 52-week low of $32.18 and a 52-week high of $41.15. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48. The stock’s 50-day simple moving average is $37.81 and its 200 day simple moving average is $37.09.

Institutional Trading of FirstEnergy

A number of institutional investors have recently modified their holdings of FE. Duality Advisers LP purchased a new stake in FirstEnergy in the fourth quarter worth $1,644,000. Citigroup Inc. boosted its stake in shares of FirstEnergy by 27.3% during the 3rd quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock valued at $34,810,000 after purchasing an additional 218,439 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of FirstEnergy by 7.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 12,231 shares of the utilities provider’s stock valued at $418,000 after purchasing an additional 866 shares in the last quarter. Comerica Bank increased its position in shares of FirstEnergy by 11,260.9% during the third quarter. Comerica Bank now owns 137,581 shares of the utilities provider’s stock valued at $4,703,000 after buying an additional 136,370 shares during the period. Finally, Nordea Investment Management AB raised its stake in FirstEnergy by 2.4% in the third quarter. Nordea Investment Management AB now owns 26,086 shares of the utilities provider’s stock worth $899,000 after buying an additional 607 shares in the last quarter. 89.41% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $1.70 annualized dividend and a yield of 4.41%. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio is presently 90.61%.

FirstEnergy Company Profile

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.