FirstEnergy Corp. Expected to Post FY2024 Earnings of $2.66 Per Share (NYSE:FE)

FirstEnergy Corp. (NYSE:FE) – Equities researchers at Zacks Research raised their FY2024 earnings per share estimates for shares of FirstEnergy in a research report issued 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 prior estimate 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.

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. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the previous year, the company posted $0.50 EPS. The firm’s revenue was up .0% on a year-over-year basis.

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

FirstEnergy Stock Up 0.7 %

NYSE FE opened at $38.58 on Thursday. The stock’s 50 day moving average is $37.81 and its 200 day moving average is $37.09. 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 has a 12 month low of $32.18 and a 12 month high of $41.15. The stock has a market cap of $22.20 billion, a PE ratio of 21.32 and a beta of 0.48.

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.41%. 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 dividend payout ratio is presently 90.61%.

Institutional Trading of FirstEnergy

Several hedge funds and other institutional investors have recently bought and sold shares of FE. Duality Advisers LP bought a new position in FirstEnergy in the 4th quarter valued at $1,644,000. Citigroup Inc. grew its position in FirstEnergy by 27.3% in the 3rd quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock valued at $34,810,000 after acquiring an additional 218,439 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in FirstEnergy by 7.6% in 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 acquiring an additional 866 shares during the last quarter. Comerica Bank grew its position in FirstEnergy by 11,260.9% in the 3rd quarter. Comerica Bank now owns 137,581 shares of the utilities provider’s stock valued at $4,703,000 after acquiring an additional 136,370 shares during the last quarter. Finally, Nordea Investment Management AB grew its position in FirstEnergy by 2.4% in the 3rd quarter. Nordea Investment Management AB now owns 26,086 shares of the utilities provider’s stock valued at $899,000 after acquiring an additional 607 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

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.