Zacks Research Reduces Earnings Estimates for FirstEnergy

FirstEnergy Corp. (NYSE:FE) – Equities research analysts at Zacks Research cut their FY2024 earnings estimates for shares of FirstEnergy in a note issued to investors on Tuesday, November 19th. Zacks Research analyst R. Department now expects that the utilities provider will post earnings of $2.66 per share for the year, down from their previous forecast 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.

FirstEnergy (NYSE:FE) last issued its 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 net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.96 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The business’s revenue was up 6.9% on a year-over-year basis.

A number of other analysts have also recently commented on the company. Jefferies Financial Group assumed coverage on FirstEnergy in a research note on Monday, October 14th. They issued a “hold” rating and a $46.00 price target for the company. Argus upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price on the stock in a report on Friday, September 20th. Morgan Stanley boosted their price target on shares of FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. Barclays raised their price objective on FirstEnergy from $40.00 to $46.00 and gave the stock an “equal weight” rating in a research note on Monday, October 7th. Finally, Bank of America boosted their target price on FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a research note on Thursday, August 29th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, FirstEnergy has a consensus rating of “Hold” and a consensus target price of $46.00.

FirstEnergy Trading Up 0.4 %

NYSE:FE opened at $41.73 on Thursday. The company has a current ratio of 0.56, a quick ratio of 0.46 and a debt-to-equity ratio of 1.58. FirstEnergy has a 1-year low of $35.41 and a 1-year high of $44.97. The firm has a market capitalization of $24.05 billion, a price-to-earnings ratio of 26.92, a PEG ratio of 2.24 and a beta of 0.51. The business’s 50-day moving average price is $42.96 and its two-hundred day moving average price is $41.40.

FirstEnergy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Stockholders of record on Thursday, November 7th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 4.07%. FirstEnergy’s dividend payout ratio (DPR) is presently 109.68%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. TD Private Client Wealth LLC boosted its stake in shares of FirstEnergy by 3.6% during the 3rd quarter. TD Private Client Wealth LLC now owns 10,949 shares of the utilities provider’s stock worth $486,000 after buying an additional 382 shares during the last quarter. Toronto Dominion Bank raised its holdings in FirstEnergy by 43.7% during the third quarter. Toronto Dominion Bank now owns 223,828 shares of the utilities provider’s stock worth $9,927,000 after acquiring an additional 68,111 shares in the last quarter. Neo Ivy Capital Management acquired a new position in FirstEnergy during the third quarter valued at approximately $2,050,000. Coldstream Capital Management Inc. bought a new position in FirstEnergy in the third quarter valued at approximately $267,000. Finally, Nomura Asset Management Co. Ltd. increased its position in shares of FirstEnergy by 16.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 186,406 shares of the utilities provider’s stock worth $8,267,000 after purchasing an additional 26,874 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

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.