FirstEnergy (NYSE:FE) Announces Earnings Results

FirstEnergy (NYSE:FE) posted its earnings results on Tuesday. The utilities provider reported $0.50 EPS for the quarter, meeting the consensus estimate of $0.50, FiscalAI reports. FirstEnergy had a return on equity of 10.66% and a net margin of 6.86%.

FirstEnergy Trading Up 0.8%

Shares of FE stock traded up $0.39 on Tuesday, hitting $49.71. The company had a trading volume of 6,061,109 shares, compared to its average volume of 4,768,857. FirstEnergy has a twelve month low of $41.30 and a twelve month high of $52.34. The company has a debt-to-equity ratio of 1.87, a quick ratio of 0.42 and a current ratio of 0.52. The firm has a market cap of $28.75 billion, a P/E ratio of 27.02, a P/E/G ratio of 2.39 and a beta of 0.47. The stock’s 50-day moving average is $47.31 and its two-hundred day moving average is $48.16.

FirstEnergy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 1st. Stockholders of record on Friday, August 7th will be paid a $0.465 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $1.86 annualized dividend and a dividend yield of 3.7%. FirstEnergy’s dividend payout ratio is presently 101.09%.

Analyst Ratings Changes

FE has been the topic of several research reports. Morgan Stanley restated an “overweight” rating on shares of FirstEnergy in a report on Wednesday, July 22nd. TD Cowen upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and dropped their price objective for the company from $56.00 to $53.00 in a report on Friday, May 15th. New Street Research set a $52.00 target price on shares of FirstEnergy in a research report on Tuesday, April 21st. Weiss Ratings lowered shares of FirstEnergy from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 17th. Finally, Wells Fargo & Company restated an “overweight” rating and issued a $55.00 price target on shares of FirstEnergy in a research report on Tuesday, April 21st. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $52.92.

Institutional Trading of FirstEnergy

Several institutional investors have recently added to or reduced their stakes in FE. State of Wyoming acquired a new stake in FirstEnergy during the 2nd quarter valued at approximately $25,000. DV Equities LLC acquired a new position in shares of FirstEnergy in the 4th quarter worth approximately $33,000. Summit Securities Group LLC lifted its position in shares of FirstEnergy by 148.0% in the 4th quarter. Summit Securities Group LLC now owns 771 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 2,376 shares during the period. WFA of San Diego LLC bought a new stake in shares of FirstEnergy in the 2nd quarter valued at $46,000. Finally, Headlands Technologies LLC bought a new stake in shares of FirstEnergy in the 2nd quarter valued at $55,000. 89.41% of the stock is currently owned by institutional investors.

FirstEnergy Company Profile

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.