Brokerages expect that FirstEnergy Corp. (NYSE:FE) will post earnings of $0.69 per share for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for FirstEnergy’s earnings, with estimates ranging from $0.66 to $0.73. FirstEnergy reported earnings per share of $0.38 during the same quarter last year, which suggests a positive year over year growth rate of 81.6%. The company 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 financial year, with EPS estimates ranging from $3.03 to $3.09. For the next 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’ EPS averages are a mean average based on a survey of sell-side research firms that that provide coverage for FirstEnergy.
Several equities analysts have commented on FE shares. Zacks Investment Research upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a research report on Tuesday, January 2nd. Wolfe Research upgraded shares of FirstEnergy from a “peer perform” rating to an “outperform” rating in a report on Monday, January 29th. Bank of America started coverage on shares of FirstEnergy in a report on Tuesday, October 24th. They issued a “neutral” rating and a $34.00 target price for the company. Deutsche Bank upgraded shares of FirstEnergy from a “hold” rating to a “buy” rating in a report on Tuesday, October 17th. Finally, Guggenheim restated a “buy” rating and issued a $47.00 target price on shares of FirstEnergy in a report on Wednesday, January 3rd. Nine equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $35.33.
A number of institutional investors and hedge funds have recently made changes to their positions in FE. Thrivent Financial For Lutherans lifted its holdings in FirstEnergy by 3.3% during the 2nd quarter. Thrivent Financial For Lutherans now owns 17,278 shares of the utilities provider’s stock valued at $503,000 after buying an additional 560 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in FirstEnergy by 4.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 956,672 shares of the utilities provider’s stock valued at $27,894,000 after buying an additional 36,447 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in FirstEnergy by 44.8% during the 2nd quarter. Janus Henderson Group PLC now owns 80,226 shares of the utilities provider’s stock valued at $2,340,000 after buying an additional 24,816 shares in the last quarter. Gotham Asset Management LLC bought a new stake in FirstEnergy during the 2nd quarter valued at about $1,720,000. Finally, Cubist Systematic Strategies LLC bought a new stake in FirstEnergy during the 2nd quarter valued at about $215,000. Institutional investors own 83.24% of the company’s stock.
FirstEnergy (FE) traded down $0.21 during mid-day trading on Friday, reaching $31.89. 802,507 shares of the company’s stock traded hands, compared to its average volume of 9,118,418. FirstEnergy has a fifty-two week low of $27.93 and a fifty-two week high of $35.22. The company has a quick ratio of 0.56, a current ratio of 0.69 and a debt-to-equity ratio of 3.29. The company has a market capitalization of $14,013.03, a price-to-earnings ratio of -2.74, a P/E/G ratio of 12.28 and a beta of 0.35.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 1st. Investors of record on Wednesday, February 7th will be issued a dividend of $0.36 per share. The ex-dividend date is Tuesday, February 6th. This represents a $1.44 dividend on an annualized basis and a yield of 4.52%. FirstEnergy’s payout ratio is -12.31%.
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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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