FirstEnergy (NYSE:FE) Updates FY22 Earnings Guidance

FirstEnergy (NYSE:FEGet Rating) issued an update on its FY22 earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.30-2.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.41. FirstEnergy also updated its FY 2022 guidance to $2.300-$2.500 EPS.

Shares of FE stock traded down $0.34 during mid-day trading on Thursday, reaching $48.12. The stock had a trading volume of 2,652,323 shares, compared to its average volume of 4,450,501. The business’s fifty day moving average is $44.25 and its 200-day moving average is $41.20. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 2.56. The firm has a market cap of $27.47 billion, a price-to-earnings ratio of 20.48, a PEG ratio of 3.06 and a beta of 0.35. FirstEnergy has a 1-year low of $35.42 and a 1-year high of $48.85.

FirstEnergy (NYSE:FEGet Rating) last issued its earnings results on Thursday, April 21st. The utilities provider reported $0.60 EPS for the quarter, missing analysts’ consensus estimates of $0.62 by ($0.02). FirstEnergy had a return on equity of 18.38% and a net margin of 11.52%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $2.85 billion. During the same quarter in the previous year, the company earned $0.69 EPS. The firm’s quarterly revenue was up 10.1% compared to the same quarter last year. On average, analysts forecast that FirstEnergy will post 2.43 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 1st. Stockholders of record on Friday, May 6th will be paid a $0.39 dividend. The ex-dividend date of this dividend is Thursday, May 5th. This represents a $1.56 dividend on an annualized basis and a dividend yield of 3.24%. FirstEnergy’s payout ratio is 66.38%.

A number of equities analysts have issued reports on FE shares. KeyCorp increased their price target on FirstEnergy from $49.00 to $51.00 and gave the stock an overweight rating in a research report on Wednesday. Evercore ISI upgraded FirstEnergy from an in-line rating to an outperform rating and increased their price target for the stock from $40.00 to $46.00 in a research report on Friday, January 7th. Bank of America increased their price target on FirstEnergy from $42.00 to $45.00 and gave the stock a buy rating in a research report on Tuesday, January 18th. StockNews.com started coverage on FirstEnergy in a research report on Thursday, March 31st. They set a hold rating on the stock. Finally, Zacks Investment Research upgraded FirstEnergy from a sell rating to a hold rating and set a $47.00 price target on the stock in a research report on Wednesday, March 16th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, FirstEnergy presently has a consensus rating of Hold and an average target price of $45.38.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG increased its holdings in shares of FirstEnergy by 14.7% in the fourth quarter. Deutsche Bank AG now owns 1,803,620 shares of the utilities provider’s stock valued at $75,012,000 after purchasing an additional 231,752 shares during the last quarter. Allianz Asset Management GmbH increased its holdings in shares of FirstEnergy by 100.9% in the fourth quarter. Allianz Asset Management GmbH now owns 409,499 shares of the utilities provider’s stock valued at $17,031,000 after purchasing an additional 205,636 shares during the last quarter. Sei Investments Co. increased its holdings in shares of FirstEnergy by 62.2% in the fourth quarter. Sei Investments Co. now owns 400,596 shares of the utilities provider’s stock valued at $16,666,000 after purchasing an additional 153,552 shares during the last quarter. State of Tennessee Treasury Department increased its holdings in shares of FirstEnergy by 166.1% in the fourth quarter. State of Tennessee Treasury Department now owns 244,585 shares of the utilities provider’s stock valued at $10,172,000 after purchasing an additional 152,685 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of FirstEnergy by 5.5% in the fourth quarter. Parametric Portfolio Associates LLC now owns 2,181,567 shares of the utilities provider’s stock valued at $90,731,000 after purchasing an additional 114,166 shares during the last quarter. Institutional investors and hedge funds own 87.82% of the company’s stock.

FirstEnergy Company Profile (Get Rating)

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, natural gas, wind, and solar power generating facilities.

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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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