FirstEnergy Corporation (FE) To Go Ex-Dividend on August 7th

FirstEnergy Corporation (NYSE:FE) declared a quarterly dividend on Wednesday, July 22nd. Stockholders of record on Friday, August 7th will be paid a dividend of 0.465 per share by the utilities provider on Tuesday, September 1st. This represents a c) dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Friday, August 7th.

FirstEnergy has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 3 years. FirstEnergy has a payout ratio of 68.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect FirstEnergy to earn $2.95 per share next year, which means the company should continue to be able to cover its $1.86 annual dividend with an expected future payout ratio of 63.1%.

FirstEnergy Trading Down 0.3%

Shares of FE opened at $48.30 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.45 and a debt-to-equity ratio of 1.88. The firm’s 50-day moving average is $47.66 and its two-hundred day moving average is $48.32. FirstEnergy has a twelve month low of $42.72 and a twelve month high of $52.34. The firm has a market capitalization of $27.95 billion, a P/E ratio of 25.69, a PEG ratio of 2.32 and a beta of 0.46.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 28th. The utilities provider reported $0.50 EPS for the quarter, hitting the consensus estimate of $0.50. The business had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.51 billion. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%.During the same quarter in the previous year, the company earned $0.52 EPS. On average, research analysts predict that FirstEnergy will post 2.73 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on FE shares. UBS Group upped their price target on shares of FirstEnergy from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, June 11th. Wolfe Research lowered FirstEnergy from a “strong-buy” rating to a “hold” rating in a research note on Monday, May 4th. Barclays lowered their target price on FirstEnergy from $55.00 to $54.00 and set an “overweight” rating on the stock in a report on Friday. TD Cowen raised FirstEnergy from a “hold” rating to a “buy” rating and cut their price target for the stock from $56.00 to $53.00 in a report on Friday, May 15th. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $55.00 price objective on shares of FirstEnergy in a research note on Tuesday, April 21st. Seven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, FirstEnergy presently has an average rating of “Moderate Buy” and an average price target of $52.83.

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.