Wall Street brokerages forecast that FirstEnergy Corp. (NYSE:FE) will announce earnings of $0.48 per share for the current quarter, according to Zacks. Two analysts have provided estimates for FirstEnergy’s earnings, with the highest EPS estimate coming in at $0.49 and the lowest estimate coming in at $0.46. FirstEnergy reported earnings per share of $0.50 during the same quarter last year, which suggests a negative year-over-year growth rate of 4%. The company is expected to report its next earnings results on Tuesday, February 18th.
On average, analysts expect that FirstEnergy will report full-year earnings of $2.51 per share for the current year, with EPS estimates ranging from $2.49 to $2.52. For the next year, analysts expect that the firm will post earnings of $2.48 per share, with EPS estimates ranging from $2.46 to $2.50. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of research firms that that provide coverage for FirstEnergy.
FirstEnergy (NYSE:FE) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $0.76 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.73 by $0.03. FirstEnergy had a net margin of 10.49% and a return on equity of 19.21%. The business had revenue of $3 billion during the quarter, compared to analyst estimates of $2.91 billion. During the same period last year, the firm posted $0.80 EPS. The company’s revenue was up 3.4% on a year-over-year basis.
Several hedge funds have recently bought and sold shares of FE. Nuveen Asset Management LLC grew its holdings in shares of FirstEnergy by 2,004.3% in the second quarter. Nuveen Asset Management LLC now owns 14,658,518 shares of the utilities provider’s stock valued at $627,531,000 after purchasing an additional 13,961,923 shares in the last quarter. Magellan Asset Management Ltd grew its holdings in shares of FirstEnergy by 880.7% in the second quarter. Magellan Asset Management Ltd now owns 4,139,429 shares of the utilities provider’s stock valued at $177,209,000 after purchasing an additional 3,717,332 shares in the last quarter. Boston Partners grew its holdings in shares of FirstEnergy by 9,910.1% in the third quarter. Boston Partners now owns 2,825,957 shares of the utilities provider’s stock valued at $136,297,000 after purchasing an additional 2,797,726 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of FirstEnergy by 7.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 30,083,866 shares of the utilities provider’s stock valued at $1,450,945,000 after purchasing an additional 2,120,802 shares in the last quarter. Finally, Millennium Management LLC grew its holdings in shares of FirstEnergy by 235.3% in the third quarter. Millennium Management LLC now owns 2,117,379 shares of the utilities provider’s stock valued at $102,121,000 after purchasing an additional 1,485,911 shares in the last quarter. 88.31% of the stock is owned by hedge funds and other institutional investors.
FE traded up $0.45 during trading on Wednesday, reaching $48.19. 3,096,275 shares of the company traded hands, compared to its average volume of 4,274,080. The company has a debt-to-equity ratio of 2.67, a quick ratio of 0.56 and a current ratio of 0.62. FirstEnergy has a 12-month low of $35.33 and a 12-month high of $49.07. The firm has a fifty day simple moving average of $47.53 and a 200 day simple moving average of $45.41. The company has a market cap of $25.77 billion, a P/E ratio of 18.61, a PEG ratio of 3.17 and a beta of 0.18.
The firm also recently announced a quarterly dividend, which was paid on Sunday, December 1st. Investors of record on Thursday, November 7th were issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.15%. The ex-dividend date was Wednesday, November 6th. FirstEnergy’s dividend payout ratio (DPR) is presently 58.69%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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