FirstEnergy Corp. (NYSE:FE) Expected to Earn Q3 2024 Earnings of $0.90 Per Share

FirstEnergy Corp. (NYSE:FE) – Equities research analysts at Zacks Research upped their Q3 2024 earnings per share (EPS) estimates for FirstEnergy in a report released on Tuesday, October 1st. Zacks Research analyst R. Department now forecasts that the utilities provider will post earnings of $0.90 per share for the quarter, up from their prior forecast of $0.88. The consensus estimate for FirstEnergy’s current full-year earnings is $2.70 per share. Zacks Research also issued estimates for FirstEnergy’s FY2024 earnings at $2.71 EPS, Q1 2025 earnings at $0.64 EPS, Q2 2025 earnings at $0.60 EPS and Q4 2025 earnings at $0.74 EPS.

FirstEnergy (NYSE:FE) last announced its quarterly earnings results on Tuesday, July 30th. The utilities provider reported $0.56 EPS for the quarter, meeting analysts’ consensus estimates of $0.56. The business had revenue of $3.28 billion for the quarter, compared to analyst estimates of $3.47 billion. FirstEnergy had a net margin of 6.61% and a return on equity of 12.12%. During the same quarter in the prior year, the business earned $0.47 EPS.

FE has been the subject of several other research reports. Wells Fargo & Company lifted their price objective on shares of FirstEnergy from $42.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Scotiabank raised their target price on shares of FirstEnergy from $40.00 to $45.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. JPMorgan Chase & Co. boosted their price target on FirstEnergy from $43.00 to $45.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Argus raised FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 price target on the stock in a research report on Friday, September 20th. Finally, Morgan Stanley lifted their price objective on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $44.55.

FirstEnergy Price Performance

Shares of NYSE FE opened at $43.47 on Thursday. The firm has a market cap of $25.01 billion, a P/E ratio of 24.98, a price-to-earnings-growth ratio of 2.32 and a beta of 0.50. The business’s 50 day moving average is $43.32 and its 200-day moving average is $40.39. The company has a current ratio of 0.51, a quick ratio of 0.43 and a debt-to-equity ratio of 1.52. FirstEnergy has a 1-year low of $32.97 and a 1-year high of $44.97.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of FE. FinTrust Capital Advisors LLC lifted its stake in shares of FirstEnergy by 1,150.9% in the 1st quarter. FinTrust Capital Advisors LLC now owns 663 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 610 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in FirstEnergy by 1,138.9% in the 2nd quarter. ST Germain D J Co. Inc. now owns 669 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 615 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new position in FirstEnergy in the second quarter valued at about $32,000. Scarborough Advisors LLC acquired a new stake in shares of FirstEnergy during the fourth quarter valued at about $31,000. Finally, Sachetta LLC grew its holdings in shares of FirstEnergy by 36.0% during the second quarter. Sachetta LLC now owns 929 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 246 shares during the last quarter. Institutional investors and hedge funds own 89.41% of the company’s stock.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, December 1st. Investors of record on Thursday, November 7th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.70 annualized dividend and a dividend yield of 3.91%. FirstEnergy’s dividend payout ratio is currently 97.70%.

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.