FirstEnergy (NYSE:FE) Issues FY24 Earnings Guidance

FirstEnergy (NYSE:FE) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $2.61-2.81 for the period, compared to the consensus EPS estimate of $2.70. FirstEnergy also updated its FY 2024 guidance to 2.610-2.810 EPS.

Analysts Set New Price Targets

FE has been the topic of several recent analyst reports. StockNews.com raised shares of FirstEnergy from a sell rating to a hold rating in a report on Monday, April 29th. Mizuho increased their target price on shares of FirstEnergy from $38.00 to $41.00 and gave the company a neutral rating in a research report on Monday, June 3rd. Scotiabank reduced 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, April 22nd. The Goldman Sachs Group initiated coverage on shares of FirstEnergy in a report on Wednesday, April 10th. They issued a buy rating and a $45.00 target price for the company. Finally, Bank of America increased 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, April 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and a consensus target price of $40.55.

FirstEnergy Stock Up 0.7 %

NYSE FE traded up $0.28 during trading on Tuesday, hitting $41.80. The stock had a trading volume of 3,957,671 shares, compared to its average volume of 2,962,592. The company has a market capitalization of $24.06 billion, a PE ratio of 24.02, a P/E/G ratio of 2.58 and a beta of 0.49. The company’s 50-day moving average price is $39.14 and its two-hundred day moving average price is $38.32. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.56 and a current ratio of 0.65. FirstEnergy has a 12 month low of $32.18 and a 12 month high of $41.90.

FirstEnergy Dividend Announcement

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

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.