FirstEnergy (NYSE:FE) Posts Quarterly Earnings Results, Beats Expectations By $0.08 EPS

FirstEnergy (NYSE:FE) issued its quarterly earnings data on Tuesday. The utilities provider reported $0.98 earnings per share for the quarter, topping the consensus estimate of $0.90 by $0.08, FiscalAI reports. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%. The company had revenue of $55.00 million during the quarter, compared to analyst estimates of $4.24 billion.

FirstEnergy Stock Up 0.3%

FE traded up $0.12 during trading hours on Tuesday, hitting $46.30. 3,932,493 shares of the company’s stock were exchanged, compared to its average volume of 4,647,008. The firm has a market cap of $26.79 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 2.71 and a beta of 0.43. FirstEnergy has a 12-month low of $42.67 and a 12-month high of $52.34. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. The firm has a 50 day moving average of $45.50 and a 200 day moving average of $47.45.

FirstEnergy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be paid a dividend of $0.4650 per share. This represents a $1.86 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, November 6th. FirstEnergy’s dividend payout ratio is presently 98.94%.

Analyst Ratings Changes

FE has been the subject of a number of research analyst reports. New Street Research set a $47.00 price target on FirstEnergy in a report on Tuesday, October 13th. Jefferies Financial Group restated a “hold” rating on shares of FirstEnergy in a report on Thursday, October 22nd. Barclays decreased their target price on shares of FirstEnergy from $54.00 to $49.00 and set an “overweight” rating on the stock in a research report on Monday, October 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FirstEnergy in a research note on Monday, September 14th. Finally, Morgan Stanley increased their target price on shares of FirstEnergy from $49.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 21st. Eight research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $50.77.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is an electric utility company focused on the transmission and distribution of electricity. Through its regulated utility subsidiaries, the company delivers power to residential, commercial and industrial customers and maintains the poles, lines, substations and other infrastructure that support electric service.

FirstEnergy’s distribution operations serve customers across parts of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. Its utility companies include Ohio Edison, The Illuminating Company, Toledo Edison, Jersey Central Power & Light, Met-Ed, Penelec, Penn Power, West Penn Power, Mon Power and The Potomac Edison Company.