FirstEnergy (NYSE:FE) Issues FY 2024 Earnings Guidance

FirstEnergy (NYSE:FE) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 2.610-2.810 for the period, compared to the consensus EPS estimate of 2.690. The company issued revenue guidance of -. FirstEnergy also updated its FY24 guidance to $2.61-2.81 EPS.

FirstEnergy Trading Up 0.7 %

Shares of FE stock traded up $0.28 during mid-day trading on Tuesday, hitting $41.80. 3,957,671 shares of the company’s stock were exchanged, compared to its average volume of 2,962,592. FirstEnergy has a fifty-two week low of $32.18 and a fifty-two week high of $41.90. The stock has a 50-day simple moving average of $39.14 and a two-hundred day simple moving average of $38.32. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The stock has a market cap of $24.06 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.58 and a beta of 0.49.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Investors of record on Wednesday, August 7th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Wednesday, August 7th. FirstEnergy’s payout ratio is currently 97.70%.

Wall Street Analysts Forecast Growth

FE has been the topic of several research reports. Barclays raised their price objective on FirstEnergy from $39.00 to $40.00 and gave the company an equal weight rating in a research report on Tuesday, July 9th. StockNews.com raised FirstEnergy from a sell rating to a hold rating in a research report on Monday, April 29th. Bank of America raised their price objective on FirstEnergy from $30.00 to $35.00 and gave the company an underperform rating in a research report on Tuesday, April 23rd. Scotiabank dropped their target price on FirstEnergy from $41.00 to $40.00 and set a sector perform rating on the stock in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group initiated coverage on FirstEnergy in a research report on Wednesday, April 10th. They set a buy rating and a $45.00 target price on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Hold and an average price target of $40.55.

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.