FirstEnergy FY2024 EPS Estimate Decreased by Zacks Research

FirstEnergy Corp. (NYSE:FE) – Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of FirstEnergy in a report released on Tuesday, November 19th. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings of $2.66 per share for the year, down from their previous 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.

FE has been the subject of a number of other research reports. Jefferies Financial Group initiated coverage on shares of FirstEnergy in a research report on Monday, October 14th. They set a “hold” rating and a $46.00 price objective for the company. JPMorgan Chase & Co. raised their price objective on FirstEnergy from $45.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Bank of America lifted 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. Wells Fargo & Company upped their target price on FirstEnergy from $42.00 to $45.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Finally, Barclays lifted their price target on shares of FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. One equities 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 company’s stock. According to MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Price Performance

NYSE:FE opened at $41.73 on Thursday. The company has a debt-to-equity ratio of 1.58, a current ratio of 0.56 and a quick ratio of 0.46. The stock has a market cap of $24.05 billion, a P/E ratio of 26.92, a PEG ratio of 2.24 and a beta of 0.51. The company has a fifty day moving average price of $42.96 and a 200 day moving average price of $41.40. FirstEnergy has a one year low of $35.41 and a one year high of $44.97.

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

FirstEnergy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be paid 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 yield of 4.07%. FirstEnergy’s dividend payout ratio is 109.68%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Livelsberger Financial Advisory bought a new position in shares of FirstEnergy in the third quarter valued at 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 acquiring an additional 640 shares during the last quarter. ST Germain D J Co. Inc. lifted its position in shares of FirstEnergy by 1,138.9% during 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 in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of FirstEnergy during the second quarter valued at approximately $32,000. Finally, Quarry LP raised its position in FirstEnergy by 59.1% in the 3rd quarter. Quarry LP now owns 861 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 320 shares during the last quarter. Institutional investors own 89.41% of the company’s stock.

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.