FirstEnergy Corporation Expected to Post Q3 2017 Earnings of $0.86 Per Share (FE)
FirstEnergy Corporation (NYSE:FE) – Equities researchers at KeyCorp issued their Q3 2017 earnings per share (EPS) estimates for shares of FirstEnergy Corporation in a research report issued on Wednesday. KeyCorp analyst P. Ridzon expects that the utilities provider will post earnings of $0.86 per share for the quarter. KeyCorp has a “Hold” rating on the stock.
Other research analysts have also issued research reports about the stock. Morgan Stanley set a $38.00 price target on shares of FirstEnergy Corporation and gave the stock a “buy” rating in a research note on Tuesday, July 4th. ValuEngine upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Monday, August 7th. Zacks Investment Research upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Monday, September 11th. Deutsche Bank AG upgraded shares of FirstEnergy Corporation from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Tudor Pickering upgraded shares of FirstEnergy Corporation from a “trim” rating to a “hold” rating in a research note on Friday, July 14th. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $34.48.
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FirstEnergy Corporation (FE) opened at 32.30 on Friday. The firm’s market cap is $14.35 billion. FirstEnergy Corporation has a one year low of $27.93 and a one year high of $34.83. The firm has a 50-day moving average of $31.60 and a 200-day moving average of $30.71.
FirstEnergy Corporation (NYSE:FE) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.61 EPS for the quarter, hitting analysts’ consensus estimates of $0.61. FirstEnergy Corporation had a negative net margin of 35.59% and a positive return on equity of 15.41%. The firm had revenue of $3.30 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the business posted $0.56 EPS. The firm’s revenue was down 3.0% compared to the same quarter last year.
Institutional investors have recently modified their holdings of the business. Patriot Financial Group Insurance Agency LLC boosted its holdings in FirstEnergy Corporation by 22.1% in the 2nd quarter. Patriot Financial Group Insurance Agency LLC now owns 3,633 shares of the utilities provider’s stock valued at $106,000 after purchasing an additional 658 shares during the period. Oppenheimer Asset Management Inc. bought a new stake in FirstEnergy Corporation in the 1st quarter valued at $139,000. Sandy Spring Bank boosted its holdings in FirstEnergy Corporation by 1.3% in the 2nd quarter. Sandy Spring Bank now owns 5,141 shares of the utilities provider’s stock valued at $150,000 after purchasing an additional 66 shares during the period. City Holding Co. boosted its holdings in FirstEnergy Corporation by 8.2% in the 2nd quarter. City Holding Co. now owns 5,261 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 400 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new stake in FirstEnergy Corporation in the 2nd quarter valued at $215,000. 80.02% of the stock is owned by hedge funds and other institutional investors.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Tuesday, November 7th will be issued a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.46%. The ex-dividend date of this dividend is Monday, November 6th. FirstEnergy Corporation’s dividend payout ratio (DPR) is presently -12.31%.
FirstEnergy Corporation Company Profile
FirstEnergy Corp. is a holding company. The Company is engaged in holding, directly or indirectly, all of the outstanding equity of its principal subsidiaries. Its segments include Regulated Distribution, Regulated Transmission, Competitive Energy Services (CES) and Corporate/Other. As of December 31, 2016, the Regulated Distribution segment distributed electricity through the Company’s 10 utility operating companies, serving approximately six million customers, and purchased power for its provider of last resort (POLR), standard offer service (SOS), standard offer service (SSO) and default service requirements in Ohio, Pennsylvania, New Jersey and Maryland.
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