FY2027 EPS Estimates for FirstEnergy Cut by Seaport Res Ptn

FirstEnergy Corp. (NYSE:FE) – Seaport Res Ptn cut their FY2027 earnings per share (EPS) estimates for shares of FirstEnergy in a research note issued to investors on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $3.33 for the year, down from their previous estimate of $3.34. Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for FirstEnergy’s current full-year earnings is $2.69 per share.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.90 by ($0.05). The business had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The company’s quarterly revenue was up 6.9% compared to the same quarter last year. During the same period last year, the firm earned $0.88 EPS.

Several other equities research analysts have also weighed in on FE. Argus upgraded FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price objective on the stock in a research note on Friday, September 20th. Barclays increased their price objective on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. KeyCorp upped their target price on shares of FirstEnergy from $47.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. Morgan Stanley increased their target price on shares of FirstEnergy from $48.00 to $51.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group started coverage on shares of FirstEnergy in a research report on Monday, October 14th. They issued a “hold” rating and a $46.00 price target on the stock. One analyst has rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $46.00.

FirstEnergy Stock Performance

NYSE:FE opened at $41.89 on Monday. The firm has a market capitalization of $24.14 billion, a PE ratio of 27.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.51. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. FirstEnergy has a 12-month low of $34.92 and a 12-month high of $44.97. The firm has a 50-day moving average price of $43.55 and a 200 day moving average price of $41.19.

Institutional Trading of FirstEnergy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Lord Abbett & CO. LLC boosted its position in FirstEnergy by 5.3% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,335,364 shares of the utilities provider’s stock valued at $51,572,000 after buying an additional 67,469 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in FirstEnergy by 3.3% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,317,521 shares of the utilities provider’s stock valued at $50,422,000 after acquiring an additional 42,484 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in FirstEnergy in the second quarter worth about $596,000. Public Sector Pension Investment Board increased its position in FirstEnergy by 52.7% in the second quarter. Public Sector Pension Investment Board now owns 87,811 shares of the utilities provider’s stock worth $3,361,000 after purchasing an additional 30,309 shares during the period. Finally, Capital International Inc. CA raised its holdings in FirstEnergy by 89.3% during the 1st quarter. Capital International Inc. CA now owns 223,152 shares of the utilities provider’s stock worth $8,618,000 after purchasing an additional 105,289 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.06%. FirstEnergy’s dividend payout ratio (DPR) is currently 109.68%.

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.