KeyCorp Weighs in on FirstEnergy Corp.’s Q1 2021 Earnings (NYSE:FE)


Share on StockTwits

FirstEnergy Corp. (NYSE:FE) – KeyCorp upped their Q1 2021 EPS estimates for FirstEnergy in a research report issued on Monday, April 12th. KeyCorp analyst S. Karp now anticipates that the utilities provider will post earnings of $0.66 per share for the quarter, up from their prior estimate of $0.55. KeyCorp also issued estimates for FirstEnergy’s Q2 2021 earnings at $0.58 EPS, Q3 2021 earnings at $0.77 EPS, Q4 2021 earnings at $0.53 EPS, FY2021 earnings at $2.55 EPS, FY2022 earnings at $2.65 EPS and FY2023 earnings at $2.82 EPS.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Wednesday, February 17th. The utilities provider reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.15). FirstEnergy had a return on equity of 20.15% and a net margin of 6.64%. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the previous year, the business earned $0.55 EPS.

A number of other research analysts also recently weighed in on FE. Bank of America upgraded shares of FirstEnergy from a “neutral” rating to a “buy” rating in a research report on Monday, March 15th. TheStreet raised FirstEnergy from a “c+” rating to a “b-” rating in a report on Thursday, February 4th. Morgan Stanley raised their price objective on FirstEnergy from $39.00 to $40.00 and gave the company an “overweight” rating in a report on Thursday, February 25th. Wells Fargo & Company downgraded FirstEnergy from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $31.00 to $32.00 in a research note on Wednesday, January 6th. Finally, Mizuho increased their price objective on shares of FirstEnergy from $32.00 to $33.00 in a report on Friday, February 19th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the stock. FirstEnergy presently has an average rating of “Hold” and an average price target of $39.58.

FE stock opened at $35.16 on Tuesday. FirstEnergy has a one year low of $22.85 and a one year high of $46.36. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.60 and a current ratio of 0.70. The firm’s fifty day moving average is $34.27 and its 200 day moving average is $31.35. The firm has a market cap of $19.13 billion, a PE ratio of 26.04 and a beta of 0.20.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FE. HighPoint Advisor Group LLC boosted its holdings in shares of FirstEnergy by 5.4% during the 1st quarter. HighPoint Advisor Group LLC now owns 6,732 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 342 shares during the last quarter. World Asset Management Inc lifted its position in FirstEnergy by 1.9% during the fourth quarter. World Asset Management Inc now owns 19,777 shares of the utilities provider’s stock worth $605,000 after buying an additional 360 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in FirstEnergy by 0.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 102,949 shares of the utilities provider’s stock worth $3,151,000 after buying an additional 398 shares during the last quarter. Baird Financial Group Inc. grew its holdings in FirstEnergy by 5.3% in the 4th quarter. Baird Financial Group Inc. now owns 10,560 shares of the utilities provider’s stock valued at $323,000 after buying an additional 532 shares in the last quarter. Finally, QS Investors LLC increased its stake in shares of FirstEnergy by 2.2% in the 4th quarter. QS Investors LLC now owns 26,309 shares of the utilities provider’s stock worth $805,000 after acquiring an additional 569 shares during the last quarter. 79.97% of the stock is currently owned by institutional investors and hedge funds.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 1st. Stockholders of record on Friday, May 7th will be paid a $0.39 dividend. This represents a $1.56 annualized dividend and a dividend yield of 4.44%. The ex-dividend date of this dividend is Thursday, May 6th. FirstEnergy’s dividend payout ratio is currently 60.47%.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes.

Featured Story: Diluted Earnings Per Share

Earnings History and Estimates for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.