Wall Street analysts expect FirstEnergy Corp. (NYSE:FE) to report $0.48 earnings per share (EPS) for the current quarter, according to Zacks. Two analysts have issued estimates for FirstEnergy’s earnings. The highest EPS estimate is $0.50 and the lowest is $0.46. FirstEnergy reported earnings of $0.71 per share in the same quarter last year, which indicates a negative year over year growth rate of 32.4%. The business is scheduled to report its next quarterly earnings report on Tuesday, February 19th.
On average, analysts expect that FirstEnergy will report full-year earnings of $2.56 per share for the current financial year, with EPS estimates ranging from $2.55 to $2.59. For the next financial year, analysts expect that the business will post earnings of $2.55 per share, with EPS estimates ranging from $2.50 to $2.60. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for FirstEnergy.
FE has been the subject of a number of recent research reports. Morgan Stanley set a $38.00 price objective on shares of FirstEnergy and gave the stock a “buy” rating in a report on Thursday, December 20th. ValuEngine upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Tuesday, October 9th. Barclays boosted their price objective on shares of FirstEnergy from $39.00 to $40.00 and gave the stock a “hold” rating in a report on Monday, November 19th. Bank of America boosted their price objective on shares of FirstEnergy from $39.00 to $41.00 and gave the stock a “buy” rating in a report on Monday, October 29th. Finally, Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $43.00 price objective for the company in a report on Friday, January 11th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. FirstEnergy has a consensus rating of “Buy” and a consensus price target of $40.00.
Shares of FE opened at $38.69 on Friday. The company has a market capitalization of $19.71 billion, a PE ratio of 13.76, a price-to-earnings-growth ratio of 2.52 and a beta of 0.27. The company has a debt-to-equity ratio of 2.44, a current ratio of 0.45 and a quick ratio of 0.41. FirstEnergy has a fifty-two week low of $30.13 and a fifty-two week high of $39.88.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Thursday, February 7th will be issued a dividend of $0.38 per share. This is a positive change from FirstEnergy’s previous quarterly dividend of $0.36. This represents a $1.52 dividend on an annualized basis and a yield of 3.93%. The ex-dividend date of this dividend is Wednesday, February 6th. FirstEnergy’s dividend payout ratio is currently 46.91%.
In related news, EVP James F. Pearson sold 40,000 shares of the company’s stock in a transaction on Wednesday, January 9th. The shares were sold at an average price of $37.87, for a total transaction of $1,514,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.27% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Patriot Financial Group Insurance Agency LLC increased its position in FirstEnergy by 98.4% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,343 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 666 shares during the period. Capital Investment Advisory Services LLC purchased a new position in FirstEnergy during the 4th quarter valued at $52,000. Oregon Public Employees Retirement Fund increased its position in FirstEnergy by 3,931.3% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 1,984,292 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 1,935,070 shares during the period. Legacy Financial Advisors Inc. increased its position in FirstEnergy by 251.2% during the 4th quarter. Legacy Financial Advisors Inc. now owns 1,433 shares of the utilities provider’s stock valued at $54,000 after purchasing an additional 1,025 shares during the period. Finally, Sound Income Strategies LLC grew its position in shares of FirstEnergy by 520.8% in the 4th quarter. Sound Income Strategies LLC now owns 1,788 shares of the utilities provider’s stock worth $67,000 after buying an additional 1,500 shares during the period. Institutional investors own 94.75% of the company’s stock.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.
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