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

FirstEnergy Corp. (NYSE:FE) – Stock analysts at Zacks Research upped their FY2024 earnings per share estimates for FirstEnergy in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings of $2.66 per share for the year, up from their previous forecast of $2.63. The consensus estimate for FirstEnergy’s current full-year earnings is $2.66 per share. Zacks Research also issued estimates for FirstEnergy’s Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.87 EPS.

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

FirstEnergy Stock Up 0.5 %

Shares of NYSE:FE opened at $38.30 on Thursday. The stock has a fifty day simple moving average of $37.79 and a two-hundred day simple moving average of $37.08. The stock has a market capitalization of $22.04 billion, a price-to-earnings ratio of 21.16 and a beta of 0.48. FirstEnergy has a 12-month low of $32.18 and a 12-month high of $41.17. The company has a current ratio of 0.48, a quick ratio of 0.38 and a debt-to-equity ratio of 2.10.

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

Institutional Trading of FirstEnergy

Hedge funds have recently bought and sold shares of the company. Sachetta LLC purchased a new stake in FirstEnergy during the fourth quarter valued at $25,000. Sugarloaf Wealth Management LLC purchased a new stake in FirstEnergy during the fourth quarter valued at $29,000. Scarborough Advisors LLC purchased a new stake in FirstEnergy during the fourth quarter valued at $31,000. Blue Trust Inc. increased its position in FirstEnergy by 327.3% during the fourth quarter. Blue Trust Inc. now owns 1,034 shares of the utilities provider’s stock valued at $35,000 after acquiring an additional 792 shares during the last quarter. Finally, Wetzel Investment Advisors Inc. purchased a new stake in FirstEnergy during the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio is 90.61%.

About FirstEnergy

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.