FY2024 EPS Estimates for FirstEnergy Corp. (NYSE:FE) Increased by Analyst

FirstEnergy Corp. (NYSE:FE) – Equities research analysts at Zacks Research raised their FY2024 earnings per share estimates for FirstEnergy in a report released on Tuesday, April 23rd. Zacks Research analyst R. Department now anticipates that the utilities provider will earn $2.66 per share for the year, up from their prior estimate of $2.63. The consensus estimate for FirstEnergy’s current full-year earnings is $2.68 per share. Zacks Research also issued estimates for FirstEnergy’s Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.87 EPS.

FirstEnergy (NYSE:FE) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.36 billion.

Several other research firms also recently issued reports on FE. KeyCorp upped their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. StockNews.com cut shares of FirstEnergy from a “hold” rating to a “sell” rating in a report on Monday, February 12th. Bank of America lifted their price objective on FirstEnergy from $30.00 to $35.00 and gave the stock an “underperform” rating in a research note on Tuesday. Scotiabank decreased their target price on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Finally, The Goldman Sachs Group initiated coverage on FirstEnergy in a report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $39.80.

FirstEnergy Stock Down 1.1 %

Shares of FirstEnergy stock opened at $38.13 on Thursday. FirstEnergy has a 12-month low of $32.18 and a 12-month high of $41.15. The stock has a market capitalization of $21.94 billion, a P/E ratio of 21.07 and a beta of 0.48. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 2.10. The stock has a 50 day moving average price of $37.83 and a two-hundred day moving average price of $37.12.

FirstEnergy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.46%. The ex-dividend date of this dividend is Monday, May 6th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s payout ratio is 90.61%.

Institutional Trading of FirstEnergy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FE. Capital World Investors lifted its stake in FirstEnergy by 38.2% during the fourth quarter. Capital World Investors now owns 68,155,129 shares of the utilities provider’s stock worth $2,498,567,000 after purchasing an additional 18,853,983 shares during the period. FMR LLC lifted its position in shares of FirstEnergy by 31.1% during the 3rd quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock worth $540,996,000 after buying an additional 3,756,228 shares during the period. Franklin Resources Inc. grew its position in FirstEnergy by 53.9% in the fourth quarter. Franklin Resources Inc. now owns 3,307,995 shares of the utilities provider’s stock valued at $121,271,000 after acquiring an additional 1,158,034 shares during the period. 1832 Asset Management L.P. raised its stake in FirstEnergy by 20.6% during the fourth quarter. 1832 Asset Management L.P. now owns 3,454,376 shares of the utilities provider’s stock worth $126,637,000 after acquiring an additional 590,815 shares in the last quarter. Finally, Invesco Ltd. raised its stake in FirstEnergy by 3.1% during the third quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock worth $463,950,000 after acquiring an additional 407,350 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

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.