Brokerages expect FirstEnergy Corp. (NYSE:FE) to announce earnings of $0.59 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for FirstEnergy’s earnings. The highest EPS estimate is $0.67 and the lowest is $0.51. FirstEnergy reported earnings per share of $0.57 in the same quarter last year, which would suggest a positive year over year growth rate of 3.5%. The company is scheduled to issue its next quarterly earnings results on Thursday, July 22nd.
According to Zacks, analysts expect that FirstEnergy will report full year earnings of $2.52 per share for the current fiscal year, with EPS estimates ranging from $2.49 to $2.55. For the next fiscal year, analysts anticipate that the firm will report earnings of $2.62 per share, with EPS estimates ranging from $2.58 to $2.70. Zacks’ EPS averages are a mean average based on a survey of research firms that cover FirstEnergy.
FirstEnergy (NYSE:FE) last announced its earnings results on Wednesday, April 21st. The utilities provider reported $0.69 EPS for the quarter, topping the consensus estimate of $0.68 by $0.01. FirstEnergy had a net margin of 6.64% and a return on equity of 20.15%. The firm had revenue of $2.73 billion for the quarter, compared to the consensus estimate of $2.78 billion. During the same quarter last year, the firm posted $0.66 EPS. The business’s quarterly revenue was up .6% on a year-over-year basis.
FE has been the subject of several recent research reports. TheStreet raised FirstEnergy from a “c+” rating to a “b-” rating in a report on Thursday, February 4th. Mizuho boosted their price target on shares of FirstEnergy from $32.00 to $33.00 in a research report on Friday, February 19th. KeyCorp raised FirstEnergy from a “sector weight” rating to an “overweight” rating and set a $42.00 price objective on the stock in a research note on Tuesday, April 27th. Bank of America raised shares of FirstEnergy from a “neutral” rating to a “buy” rating in a research note on Monday, March 15th. Finally, Morgan Stanley increased their target price on shares of FirstEnergy from $40.00 to $44.00 and gave the stock an “overweight” rating in a report on Monday, April 26th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. FirstEnergy currently has a consensus rating of “Hold” and an average target price of $39.42.
Shares of NYSE:FE traded down $0.53 on Tuesday, hitting $37.79. 6,824,513 shares of the company were exchanged, compared to its average volume of 4,514,650. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.60 and a current ratio of 0.70. The company’s 50 day moving average price is $35.49 and its two-hundred day moving average price is $32.03. FirstEnergy has a one year low of $22.85 and a one year high of $44.10. The firm has a market capitalization of $20.56 billion, a price-to-earnings ratio of 27.99 and a beta of 0.20.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 7th will be issued a $0.39 dividend. The ex-dividend date is Thursday, May 6th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 4.13%. FirstEnergy’s dividend payout ratio (DPR) is currently 60.47%.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Schonfeld Strategic Advisors LLC increased its position in FirstEnergy by 55.8% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 119,866 shares of the utilities provider’s stock valued at $3,441,000 after acquiring an additional 42,915 shares during the period. Advisor Partners LLC grew its holdings in shares of FirstEnergy by 43.4% during the third quarter. Advisor Partners LLC now owns 11,912 shares of the utilities provider’s stock valued at $342,000 after buying an additional 3,604 shares during the last quarter. Brinker Capital Investments LLC bought a new position in FirstEnergy during the 3rd quarter valued at $444,000. Van ECK Associates Corp increased its stake in FirstEnergy by 24.4% in the 3rd quarter. Van ECK Associates Corp now owns 48,948 shares of the utilities provider’s stock valued at $1,405,000 after buying an additional 9,604 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of FirstEnergy by 2.3% in the 3rd quarter. Sei Investments Co. now owns 282,055 shares of the utilities provider’s stock worth $8,111,000 after buying an additional 6,262 shares during the last quarter. 79.97% of the stock is currently owned by hedge funds and other institutional investors.
FirstEnergy Company Profile
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes.
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