FirstEnergy Corp. Expected to Post FY2024 Earnings of $2.66 Per Share (NYSE:FE)

FirstEnergy Corp. (NYSE:FE) – Analysts at Zacks Research upped their FY2024 earnings per share estimates for FirstEnergy in a report released on Tuesday, April 23rd. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings of $2.66 per share for the year, up from their prior estimate of $2.63. The consensus estimate for FirstEnergy’s current full-year earnings is $2.66 per share. Zacks Research also issued estimates for FirstEnergy’s Q4 2025 earnings at $0.56 EPS and FY2025 earnings at $2.87 EPS.

FirstEnergy (NYSE:FE) last released its quarterly earnings data 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. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.10 billion. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.50 earnings per share.

Several other equities analysts have also commented on the company. Scotiabank decreased their price target on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating on the stock in a research note on Monday. The Goldman Sachs Group assumed coverage on FirstEnergy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target on the stock. Bank of America upped their price target on FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research note on Tuesday. StockNews.com lowered FirstEnergy from a “hold” rating to a “sell” rating in a research note on Monday, February 12th. Finally, KeyCorp increased their target price on FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, FirstEnergy presently has an average rating of “Hold” and a consensus target price of $39.80.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $38.58 on Thursday. FirstEnergy has a 52 week low of $32.18 and a 52 week high of $41.15. The business’s fifty day simple moving average is $37.81 and its 200-day simple moving average is $37.09. The firm has a market cap of $22.20 billion, a PE ratio of 21.32 and a beta of 0.48. The company has a quick ratio of 0.38, a current ratio of 0.48 and a debt-to-equity ratio of 2.10.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Capital World Investors increased its holdings in shares of FirstEnergy by 38.2% in the 4th quarter. Capital World Investors now owns 68,155,129 shares of the utilities provider’s stock valued at $2,498,567,000 after acquiring an additional 18,853,983 shares during the last quarter. FMR LLC increased its holdings in shares of FirstEnergy by 31.1% in the 3rd quarter. FMR LLC now owns 15,827,860 shares of the utilities provider’s stock valued at $540,996,000 after acquiring an additional 3,756,228 shares during the last quarter. Invesco Ltd. increased its holdings in shares of FirstEnergy by 3.1% in the 3rd quarter. Invesco Ltd. now owns 13,573,719 shares of the utilities provider’s stock valued at $463,950,000 after acquiring an additional 407,350 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of FirstEnergy by 0.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,930,826 shares of the utilities provider’s stock valued at $344,908,000 after acquiring an additional 82,482 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of FirstEnergy by 1.7% in the 3rd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 5,543,375 shares of the utilities provider’s stock valued at $189,473,000 after acquiring an additional 92,561 shares during the last quarter. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Saturday, June 1st. Shareholders of record on Tuesday, May 7th will be issued a dividend of $0.425 per share. This is an increase from FirstEnergy’s previous quarterly dividend of $0.41. The ex-dividend date is Monday, May 6th. This represents a $1.70 annualized dividend and a yield of 4.41%. FirstEnergy’s dividend payout ratio is 90.61%.

About FirstEnergy

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.