FirstEnergy Corp. (FE) Expected to Post Earnings of $0.69 Per Share

Equities research analysts predict that FirstEnergy Corp. (NYSE:FE) will post $0.69 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for FirstEnergy’s earnings, with the lowest EPS estimate coming in at $0.66 and the highest estimate coming in at $0.73. FirstEnergy reported earnings of $0.38 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 81.6%. The business is scheduled to announce its next quarterly earnings report after the market closes on Tuesday, February 20th.

According to Zacks, analysts expect that FirstEnergy will report full-year earnings of $3.06 per share for the current fiscal year, with EPS estimates ranging from $3.03 to $3.09. For the next financial year, analysts anticipate that the business will post earnings of $2.56 per share, with EPS estimates ranging from $2.14 to $3.05. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow FirstEnergy.

A number of analysts recently issued reports on the company. Bank of America assumed coverage on FirstEnergy in a research report on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 price target for the company. Wolfe Research upgraded FirstEnergy from a “peer perform” rating to an “outperform” rating in a research report on Monday, January 29th. Zacks Investment Research upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research report on Tuesday, January 23rd. Mizuho restated a “hold” rating and issued a $32.00 price target on shares of FirstEnergy in a research report on Tuesday, January 30th. Finally, Citigroup lowered their price target on FirstEnergy from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, January 30th. Nine investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. FirstEnergy has a consensus rating of “Buy” and a consensus price target of $35.67.

Shares of FirstEnergy (NYSE FE) traded up $0.65 on Friday, reaching $31.29. The company had a trading volume of 8,251,609 shares, compared to its average volume of 8,980,000. The company has a market capitalization of $13,920.00, a P/E ratio of -2.66, a PEG ratio of 12.20 and a beta of 0.35. FirstEnergy has a 12 month low of $27.93 and a 12 month high of $35.22. The company has a debt-to-equity ratio of 3.29, a quick ratio of 0.56 and a current ratio of 0.69.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, March 1st. Stockholders of record on Wednesday, February 7th will be given a dividend of $0.36 per share. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.60%. FirstEnergy’s dividend payout ratio (DPR) is -12.23%.

Several large investors have recently added to or reduced their stakes in FE. Thrivent Financial For Lutherans lifted its position in shares of FirstEnergy by 3.3% during the second quarter. Thrivent Financial For Lutherans now owns 17,278 shares of the utilities provider’s stock worth $503,000 after purchasing an additional 560 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of FirstEnergy by 4.0% during the second quarter. Dimensional Fund Advisors LP now owns 956,672 shares of the utilities provider’s stock worth $27,894,000 after purchasing an additional 36,447 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of FirstEnergy by 44.8% during the second quarter. Janus Henderson Group PLC now owns 80,226 shares of the utilities provider’s stock worth $2,340,000 after purchasing an additional 24,816 shares during the last quarter. Gotham Asset Management LLC bought a new stake in shares of FirstEnergy during the second quarter worth $1,720,000. Finally, Cubist Systematic Strategies LLC bought a new stake in shares of FirstEnergy during the second quarter worth $215,000. Institutional investors and hedge funds own 83.29% of the company’s stock.

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FirstEnergy 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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