FirstEnergy (FE) to Release Quarterly Earnings on Thursday

FirstEnergy (NYSE:FE) is set to post its quarterly earnings results after the market closes on Thursday, April 25th. Analysts expect FirstEnergy to post earnings of $0.71 per share for the quarter. Individual interested in participating in the company’s earnings conference call can do so using this link.

FirstEnergy (NYSE:FE) last posted its earnings results on Friday, February 9th. The utilities provider reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.02. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the business posted $0.50 earnings per share. FirstEnergy’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts expect FirstEnergy to post $3 EPS for the current fiscal year and $3 EPS for the next fiscal year.

FirstEnergy Stock Performance

Shares of FE opened at $37.45 on Thursday. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.38. FirstEnergy has a one year low of $32.18 and a one year high of $41.17. The company has a 50-day simple moving average of $37.67 and a two-hundred day simple moving average of $36.92. The firm has a market capitalization of $21.55 billion, a PE ratio of 20.69 and a beta of 0.48.

FirstEnergy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a $0.425 dividend. The ex-dividend date is Monday, May 6th. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.41. This represents a $1.70 annualized dividend and a yield of 4.54%. FirstEnergy’s dividend payout ratio (DPR) is 90.61%.

Analysts Set New Price Targets

Several analysts have commented on FE shares. KeyCorp raised their price objective on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a report on Thursday, January 4th. StockNews.com downgraded shares of FirstEnergy from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a research note on Wednesday, April 10th. They set a “buy” rating and a $45.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $40.38.

Institutional Investors Weigh In On FirstEnergy

Institutional investors and hedge funds have recently made changes to their positions in the company. Clear Street Markets LLC grew its position in FirstEnergy by 549.0% in the 4th quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 549 shares during the period. Certified Advisory Corp bought a new stake in FirstEnergy in the 1st quarter worth approximately $29,000. Cornerstone Planning Group LLC bought a new stake in FirstEnergy in the 2nd quarter worth approximately $31,000. MUFG Americas Holdings Corp bought a new stake in FirstEnergy in the 3rd quarter worth approximately $32,000. Finally, KB Financial Partners LLC purchased a new position in shares of FirstEnergy during the 1st quarter worth $34,000. Institutional investors own 89.41% of the company’s stock.

FirstEnergy Company Profile

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.