FirstEnergy FY2024 EPS Estimate Reduced by Seaport Res Ptn

FirstEnergy Corp. (NYSE:FE - Free Report) - Research analysts at Seaport Res Ptn dropped their FY2024 EPS estimates for FirstEnergy in a research report issued on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now forecasts that the utilities provider will post earnings per share of $2.67 for the year, down from their prior forecast of $2.71. Seaport Res Ptn currently has a "Hold" rating on the stock. The consensus estimate for FirstEnergy's current full-year earnings is $2.70 per share. Seaport Res Ptn also issued estimates for FirstEnergy's FY2025 earnings at $2.90 EPS and FY2026 earnings at $3.11 EPS.

A number of other equities research analysts have also recently issued reports on the stock. Barclays boosted their target price on shares of FirstEnergy from $40.00 to $46.00 and gave the company an "equal weight" rating in a research report on Monday, October 7th. JPMorgan Chase & Co. upped their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. KeyCorp upped their price objective on shares of FirstEnergy from $47.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 22nd. Scotiabank upped their price objective on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a "sector perform" rating in a research report on Tuesday, August 20th. Finally, Argus raised FirstEnergy from a "hold" rating to a "buy" rating and set a $50.00 target price for the company in a research note on Friday, September 20th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, FirstEnergy has an average rating of "Hold" and an average price target of $46.00.

FirstEnergy Stock Performance

FE stock traded down $0.10 during midday trading on Friday, reaching $41.73. 5,619,369 shares of the company were exchanged, compared to its average volume of 2,953,617. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.43. The business has a 50-day moving average price of $43.65 and a two-hundred day moving average price of $41.05. FirstEnergy has a one year low of $34.92 and a one year high of $44.97. The firm has a market capitalization of $24.05 billion, a price-to-earnings ratio of 26.96, a price-to-earnings-growth ratio of 2.26 and a beta of 0.50.

FirstEnergy (NYSE:FE - Get Free Report) last issued its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing analysts' consensus estimates of $0.90 by ($0.05). FirstEnergy had a return on equity of 11.38% and a net margin of 6.64%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.96 billion. During the same quarter in the previous year, the firm posted $0.88 earnings per share. FirstEnergy's quarterly revenue was up 6.9% on a year-over-year basis.

Hedge Funds Weigh In On FirstEnergy

Large investors have recently bought and sold shares of the stock. FinTrust Capital Advisors LLC raised its stake in shares of FirstEnergy by 1,150.9% during the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider's stock worth $26,000 after purchasing an additional 610 shares during the period. ST Germain D J Co. Inc. raised its stake in shares of FirstEnergy by 1,138.9% during the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider's stock worth $26,000 after purchasing an additional 615 shares during the period. Livelsberger Financial Advisory bought a new stake in shares of FirstEnergy during the 3rd quarter worth $26,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of FirstEnergy during the 2nd quarter worth $32,000. Finally, Western Pacific Wealth Management LP bought a new stake in shares of FirstEnergy during the 1st quarter worth $36,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 4.07%. The ex-dividend date is Thursday, November 7th. FirstEnergy's payout ratio is currently 109.68%.

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.