FY2024 EPS Estimates for FirstEnergy Corp. (NYSE:FE) Raised by Analyst

FirstEnergy Corp. (NYSE:FE) – Investment analysts at Zacks Research boosted their FY2024 EPS estimates for FirstEnergy in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst R. Department now anticipates that the utilities provider will earn $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 issued 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 business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. FirstEnergy had a net margin of 8.56% and a return on equity of 13.52%. The company’s revenue was up .0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.50 earnings per share.

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

FirstEnergy Trading Up 0.5 %

Shares of FirstEnergy stock opened at $38.30 on Thursday. The firm has a 50-day simple moving average of $37.79 and a two-hundred day simple moving average of $37.08. The company has a market cap of $22.04 billion, a P/E ratio of 21.16 and a beta of 0.48. FirstEnergy has a fifty-two week low of $32.18 and a fifty-two week high of $41.17. The company has a debt-to-equity ratio of 2.10, a quick ratio of 0.38 and a current ratio of 0.48.

Institutional Trading of FirstEnergy

Several large investors have recently bought and sold shares of the business. MGO One Seven LLC grew its stake in FirstEnergy by 4.7% during the 3rd quarter. MGO One Seven LLC now owns 6,425 shares of the utilities provider’s stock valued at $220,000 after acquiring an additional 287 shares in the last quarter. Marcum Wealth LLC grew its stake in FirstEnergy by 3.8% during the 1st quarter. Marcum Wealth LLC now owns 7,973 shares of the utilities provider’s stock valued at $308,000 after acquiring an additional 295 shares in the last quarter. Allworth Financial LP grew its stake in FirstEnergy by 9.3% during the 4th quarter. Allworth Financial LP now owns 3,728 shares of the utilities provider’s stock valued at $137,000 after acquiring an additional 318 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in FirstEnergy by 1.2% during the 3rd quarter. B. Riley Wealth Advisors Inc. now owns 28,575 shares of the utilities provider’s stock valued at $977,000 after acquiring an additional 339 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its stake in shares of FirstEnergy by 0.5% in the 4th quarter. Daymark Wealth Partners LLC now owns 72,037 shares of the utilities provider’s stock valued at $2,641,000 after buying an additional 341 shares during the period. Hedge funds and other institutional investors own 89.41% of the company’s stock.

FirstEnergy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Saturday, June 1st. Investors of record on Tuesday, May 7th will be paid a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 4.44%. The ex-dividend date is Monday, May 6th. This is a boost from FirstEnergy’s previous quarterly dividend of $0.41. FirstEnergy’s dividend payout ratio is currently 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.