FirstEnergy (NYSE:FE) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

FirstEnergy (NYSE:FEGet Free Report) released its quarterly earnings results on Friday. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.02, Briefing.com reports. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted $0.50 EPS. The business’s revenue was up .0% on a year-over-year basis.

FirstEnergy Trading Up 4.2 %

Shares of FirstEnergy stock opened at $37.31 on Monday. The firm has a market capitalization of $21.41 billion, a PE ratio of 20.61 and a beta of 0.49. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.43. The company’s fifty day moving average price is $37.07 and its two-hundred day moving average price is $36.47. FirstEnergy has a 52-week low of $32.18 and a 52-week high of $41.99.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 7th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 4.40%. The ex-dividend date is Tuesday, February 6th. FirstEnergy’s payout ratio is currently 90.61%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FE shares. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. KeyCorp raised their target price on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Thursday, January 4th. Finally, Morgan Stanley decreased their price objective on FirstEnergy from $44.00 to $42.00 and set an “overweight” rating for the company in a research report on Wednesday, October 25th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $39.67.

Check Out Our Latest Analysis on FirstEnergy

Insider Buying and Selling at FirstEnergy

In other news, SVP Christine Walker sold 12,500 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $37.58, for a total value of $469,750.00. Following the sale, the senior vice president now owns 36,959 shares of the company’s stock, valued at approximately $1,388,919.22. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On FirstEnergy

A number of hedge funds have recently added to or reduced their stakes in FE. Vanguard Group Inc. boosted its stake in shares of FirstEnergy by 7.0% in the 1st quarter. Vanguard Group Inc. now owns 68,214,574 shares of the utilities provider’s stock valued at $3,128,322,000 after purchasing an additional 4,443,050 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of FirstEnergy by 2.7% in the 1st quarter. Geode Capital Management LLC now owns 11,526,479 shares of the utilities provider’s stock valued at $460,739,000 after purchasing an additional 300,442 shares during the last quarter. Morgan Stanley boosted its stake in shares of FirstEnergy by 2.4% in the 4th quarter. Morgan Stanley now owns 7,515,260 shares of the utilities provider’s stock valued at $315,190,000 after purchasing an additional 177,489 shares during the last quarter. Northern Trust Corp boosted its stake in shares of FirstEnergy by 0.5% in the 1st quarter. Northern Trust Corp now owns 5,171,444 shares of the utilities provider’s stock valued at $237,162,000 after purchasing an additional 27,650 shares during the last quarter. Finally, Royal Bank of Canada boosted its stake in shares of FirstEnergy by 24.5% in the 2nd quarter. Royal Bank of Canada now owns 3,784,760 shares of the utilities provider’s stock valued at $147,153,000 after purchasing an additional 744,674 shares during the last quarter. Institutional investors own 82.34% of the company’s stock.

FirstEnergy Company Profile

(Get Free Report)

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.

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Earnings History for FirstEnergy (NYSE:FE)

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