FirstEnergy Corporation (NYSE:FE) to Issue Dividend Increase – $0.47 Per Share

FirstEnergy Corporation (NYSE:FE) announced a quarterly dividend on Wednesday, February 11th. Stockholders of record on Thursday, May 7th will be given a dividend of 0.465 per share by the utilities provider on Monday, June 1st. This represents a c) annualized dividend and a dividend yield of 3.9%. The ex-dividend date is Thursday, May 7th. This is a 4.5% increase from FirstEnergy’s previous quarterly dividend of $0.45.

FirstEnergy has increased its dividend payment by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 3 consecutive years. FirstEnergy has a payout ratio of 65.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect FirstEnergy to earn $2.89 per share next year, which means the company should continue to be able to cover its $1.78 annual dividend with an expected future payout ratio of 61.6%.

FirstEnergy Price Performance

Shares of NYSE FE opened at $47.95 on Thursday. FirstEnergy has a twelve month low of $37.58 and a twelve month high of $48.20. The firm has a fifty day simple moving average of $45.69 and a 200 day simple moving average of $45.23. The company has a market capitalization of $27.70 billion, a PE ratio of 20.94, a P/E/G ratio of 2.72 and a beta of 0.64. The company has a quick ratio of 0.64, a current ratio of 0.75 and a debt-to-equity ratio of 1.80.

About FirstEnergy

FirstEnergy Corp. (NYSE: FE) is a U.S.-based electric utility holding company headquartered in Akron, Ohio. The company’s primary business is the delivery of electricity through its regulated transmission and distribution utilities, serving residential, commercial and industrial customers across parts of the Midwest and Mid‑Atlantic. FirstEnergy’s service territory includes states such as Ohio, Pennsylvania, New Jersey, Maryland and West Virginia, and it operates primarily within the PJM regional transmission organization.

FirstEnergy’s core activities center on owning and operating electric distribution networks and transmission systems, maintaining and upgrading grid infrastructure, managing storm response and restoration, and offering customer programs that include energy efficiency and reliability services.