FirstEnergy (NYSE:FE) Issues Quarterly Earnings Results, Beats Estimates By $0.02 EPS

FirstEnergy (NYSE:FEGet Free Report) released its earnings results on Friday. The utilities provider reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.60 by $0.02, Briefing.com reports. FirstEnergy had a return on equity of 13.52% and a net margin of 8.56%. The firm had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the business posted $0.50 earnings per share. FirstEnergy’s revenue was up .0% compared to the same quarter last year.

FirstEnergy Price Performance

Shares of NYSE:FE opened at $37.31 on Monday. The business’s 50 day simple moving average is $37.07 and its 200-day simple moving average is $36.47. The firm has a market capitalization of $21.41 billion, a price-to-earnings ratio of 20.61 and a beta of 0.49. The company has a debt-to-equity ratio of 2.10, a current ratio of 0.48 and a quick ratio of 0.43. FirstEnergy has a 12 month low of $32.18 and a 12 month high of $41.99.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Tuesday, February 6th. FirstEnergy’s dividend payout ratio (DPR) is 90.61%.

Insider Transactions at FirstEnergy

In other news, SVP Christine Walker sold 12,500 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $37.58, for a total transaction of $469,750.00. Following the sale, the senior vice president now owns 36,959 shares of the company’s stock, valued at approximately $1,388,919.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.08% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Meeder Asset Management Inc. raised its position in shares of FirstEnergy by 3.2% during the 4th quarter. Meeder Asset Management Inc. now owns 8,167 shares of the utilities provider’s stock worth $343,000 after purchasing an additional 257 shares during the last quarter. Snowden Capital Advisors LLC raised its holdings in FirstEnergy by 2.2% in the 1st quarter. Snowden Capital Advisors LLC now owns 13,241 shares of the utilities provider’s stock valued at $530,000 after acquiring an additional 287 shares during the last quarter. United Capital Financial Advisers LLC raised its holdings in FirstEnergy by 2.3% in the 2nd quarter. United Capital Financial Advisers LLC now owns 13,241 shares of the utilities provider’s stock valued at $515,000 after acquiring an additional 292 shares during the last quarter. CENTRAL TRUST Co raised its holdings in FirstEnergy by 12.2% in the 3rd quarter. CENTRAL TRUST Co now owns 3,127 shares of the utilities provider’s stock valued at $115,000 after acquiring an additional 340 shares during the last quarter. Finally, Gamco Investors INC. ET AL raised its holdings in FirstEnergy by 0.7% in the 1st quarter. Gamco Investors INC. ET AL now owns 51,111 shares of the utilities provider’s stock valued at $2,048,000 after acquiring an additional 364 shares during the last quarter. 82.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Morgan Stanley cut their price target on FirstEnergy from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. KeyCorp raised their price target on FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. Finally, StockNews.com upgraded FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $39.67.

View Our Latest Stock Report on FE

About FirstEnergy

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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.

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Earnings History for FirstEnergy (NYSE:FE)

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