FirstEnergy (NYSE:FE – Get Free Report) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.850-0.950 for the period, compared to the consensus earnings per share estimate of 0.890. The company issued revenue guidance of -. FirstEnergy also updated its FY 2024 guidance to 2.610-2.810 EPS.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on the company. Barclays boosted their target price on FirstEnergy from $39.00 to $40.00 and gave the company an equal weight rating in a report on Tuesday, July 9th. Bank of America upped their price objective on FirstEnergy from $30.00 to $35.00 and gave the stock an underperform rating in a report on Tuesday, April 23rd. Morgan Stanley dropped their price objective on FirstEnergy from $46.00 to $44.00 and set an overweight rating on the stock in a report on Monday, June 24th. Mizuho upped their price objective on FirstEnergy from $38.00 to $41.00 and gave the stock a neutral rating in a report on Monday, June 3rd. Finally, The Goldman Sachs Group started coverage on FirstEnergy in a report on Wednesday, April 10th. They set a buy rating and a $45.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, FirstEnergy presently has an average rating of Hold and a consensus target price of $40.55.
Read Our Latest Stock Report on FirstEnergy
FirstEnergy Price Performance
FirstEnergy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be given a dividend of $0.425 per share. The ex-dividend date is Wednesday, August 7th. This represents a $1.70 dividend on an annualized basis and a yield of 4.07%. FirstEnergy’s payout ratio is 97.70%.
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.
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