Analysts Set Expectations for FirstEnergy FY2024 Earnings

FirstEnergy Corp. (NYSE:FE) – Equities research analysts at Zacks Research cut their FY2024 earnings per share (EPS) estimates for FirstEnergy in a research report issued to clients and investors on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the utilities provider will earn $2.66 per share for the year, down from their prior estimate of $2.70. The consensus estimate for FirstEnergy’s current full-year earnings is $2.69 per share. Zacks Research also issued estimates for FirstEnergy’s Q1 2025 earnings at $0.61 EPS, Q4 2025 earnings at $0.78 EPS and FY2025 earnings at $2.90 EPS.

A number of other research firms also recently issued reports on FE. JPMorgan Chase & Co. increased their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Scotiabank increased their price objective on FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Wells Fargo & Company increased their price objective on FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Bank of America increased their price objective on FirstEnergy from $42.00 to $43.00 and gave the stock an “underperform” rating in a report on Thursday, August 29th. Finally, Jefferies Financial Group started coverage on FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 target price on the stock. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Price Performance

Shares of FirstEnergy stock opened at $42.13 on Thursday. The business has a 50 day moving average of $42.93 and a 200 day moving average of $41.40. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The company has a market cap of $24.28 billion, a PE ratio of 27.18, a P/E/G ratio of 2.24 and a beta of 0.51. FirstEnergy has a 52 week low of $35.41 and a 52 week high of $44.97.

FirstEnergy (NYSE:FE) last announced its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $0.90 by ($0.05). The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. FirstEnergy’s revenue was up 6.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS.

Institutional Investors Weigh In On FirstEnergy

Institutional investors have recently modified their holdings of the business. ST Germain D J Co. Inc. boosted its position in FirstEnergy by 1,138.9% in the second 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 last quarter. Livelsberger Financial Advisory bought a new position in shares of FirstEnergy in the third quarter worth about $26,000. True Wealth Design LLC raised its stake in shares of FirstEnergy by 4,571.4% in the third quarter. True Wealth Design LLC now owns 654 shares of the utilities provider’s stock worth $29,000 after buying an additional 640 shares during the period. Strategic Investment Solutions Inc. IL bought a new position in shares of FirstEnergy in the second quarter worth about $32,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of FirstEnergy in the first quarter worth about $36,000. 89.41% of the stock is owned by hedge funds and other institutional investors.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.04%. FirstEnergy’s dividend payout ratio (DPR) is presently 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.