FirstEnergy (NYSE:FE) Posts Earnings Results

FirstEnergy (NYSE:FE) issued its earnings results on Tuesday. The utilities provider reported $0.56 earnings per share for the quarter, hitting the consensus estimate of $0.56, Briefing.com reports. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.47 billion. FirstEnergy had a return on equity of 12.45% and a net margin of 8.22%. During the same period last year, the company posted $0.47 EPS.

FirstEnergy Price Performance

Shares of FE stock traded down $0.08 during trading hours on Wednesday, hitting $41.72. The company had a trading volume of 2,130,061 shares, compared to its average volume of 2,956,890. The firm has a market capitalization of $24.01 billion, a price-to-earnings ratio of 24.02, a PEG ratio of 2.62 and a beta of 0.49. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.56 and a current ratio of 0.65. FirstEnergy has a 12 month low of $32.18 and a 12 month high of $42.14. The firm’s fifty day moving average is $39.14 and its 200 day moving average is $38.32.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, September 1st. Stockholders of record on Wednesday, August 7th will be paid a $0.425 dividend. The ex-dividend date is Wednesday, August 7th. This represents a $1.70 annualized dividend and a dividend yield of 4.07%. FirstEnergy’s dividend payout ratio is currently 97.70%.

Analyst Ratings Changes

FE has been the subject of several recent research reports. Mizuho increased their price target on FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Monday, June 3rd. The Goldman Sachs Group started coverage on FirstEnergy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $45.00 price target for the company. StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, April 29th. Morgan Stanley cut their target price on shares of FirstEnergy from $46.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, June 24th. Finally, Scotiabank reduced their price objective on FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $40.55.

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.