FirstEnergy (NYSE:FE) Releases FY 2022 Earnings Guidance

FirstEnergy (NYSE:FEGet Rating) issued an update on its FY 2022 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.30-$2.50 for the period, compared to the consensus estimate of $2.40. The company issued revenue guidance of -. FirstEnergy also updated its Q3 2022 guidance to $0.70-$0.80 EPS.

FirstEnergy Stock Performance

Shares of FE stock traded up $0.96 during midday trading on Friday, hitting $41.10. The company had a trading volume of 4,607,641 shares, compared to its average volume of 4,107,684. FirstEnergy has a 52-week low of $35.32 and a 52-week high of $48.85. The company has a debt-to-equity ratio of 2.48, a current ratio of 0.52 and a quick ratio of 0.45. The company’s 50 day simple moving average is $39.19 and its 200 day simple moving average is $41.92. The stock has a market cap of $23.47 billion, a price-to-earnings ratio of 16.71, a PEG ratio of 2.56 and a beta of 0.43.

FirstEnergy (NYSE:FEGet Rating) last released its earnings results on Tuesday, July 26th. The utilities provider reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. FirstEnergy had a net margin of 11.78% and a return on equity of 16.50%. During the same period in the previous year, the firm posted $0.59 earnings per share. Research analysts anticipate that FirstEnergy will post 2.4 earnings per share for the current fiscal year.

FirstEnergy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 1st. Shareholders of record on Friday, August 5th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, August 4th. This represents a $1.56 annualized dividend and a dividend yield of 3.80%. FirstEnergy’s payout ratio is currently 63.41%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Barclays dropped their price objective on FirstEnergy from $49.00 to $41.00 and set an equal weight rating for the company in a research note on Monday, July 18th. Bank of America lowered shares of FirstEnergy from a buy rating to a neutral rating and decreased their price objective for the stock from $52.00 to $44.00 in a research report on Monday, May 16th. Mizuho dropped their target price on shares of FirstEnergy from $41.00 to $40.00 and set a neutral rating for the company in a report on Tuesday, June 7th. StockNews.com raised shares of FirstEnergy from a hold rating to a buy rating in a report on Wednesday. Finally, KeyCorp dropped their price objective on shares of FirstEnergy from $51.00 to $47.00 and set an overweight rating for the company in a research note on Tuesday, July 19th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $45.25.

Institutional Investors Weigh In On FirstEnergy

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Achmea Investment Management B.V. raised its stake in shares of FirstEnergy by 145.1% in the 1st quarter. Achmea Investment Management B.V. now owns 1,708 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 1,011 shares during the period. Sequoia Financial Advisors LLC acquired a new position in shares of FirstEnergy during the first quarter worth about $204,000. First Commonwealth Financial Corp PA purchased a new stake in shares of FirstEnergy in the first quarter worth about $213,000. Fund Management at Engine No. 1 LLC purchased a new stake in shares of FirstEnergy in the first quarter worth about $221,000. Finally, IHT Wealth Management LLC acquired a new stake in shares of FirstEnergy in the first quarter valued at about $275,000. 87.78% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Company Profile

(Get Rating)

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, natural gas, wind, and solar power generating facilities.

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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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