KeyCorp Weighs in on FirstEnergy Corp.’s Q3 2021 Earnings (NYSE:FE)

FirstEnergy Corp. (NYSE:FE) – Analysts at KeyCorp issued their Q3 2021 earnings estimates for shares of FirstEnergy in a research report issued to clients and investors on Tuesday, January 12th. KeyCorp analyst S. Karp anticipates that the utilities provider will earn $0.73 per share for the quarter.

FirstEnergy (NYSE:FE) last posted its earnings results on Saturday, November 7th. The utilities provider reported $0.84 EPS for the quarter, beating the consensus estimate of $0.79 by $0.05. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. FirstEnergy had a return on equity of 20.15% and a net margin of 6.64%. The firm’s revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $0.80 EPS.

Other analysts have also issued reports about the company. Bank of America lowered FirstEnergy from a “buy” rating to a “neutral” rating and set a $30.00 price target on the stock. in a report on Friday, November 20th. Barclays boosted their price target on shares of FirstEnergy from $32.00 to $33.00 and gave the stock an “equal weight” rating in a report on Wednesday, November 18th. BidaskClub downgraded shares of FirstEnergy from a “buy” rating to a “hold” rating in a report on Monday, December 28th. Morgan Stanley lowered their price objective on shares of FirstEnergy from $43.00 to $40.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 15th. Finally, Wells Fargo & Company downgraded shares of FirstEnergy from an “equal weight” rating to an “underweight” rating and increased their target price for the company from $31.00 to $32.00 in a research report on Wednesday, January 6th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. FirstEnergy presently has a consensus rating of “Hold” and an average target price of $41.41.

Shares of FirstEnergy stock opened at $30.79 on Thursday. The company has a market cap of $16.71 billion, a PE ratio of 22.81 and a beta of 0.16. The company has a quick ratio of 0.60, a current ratio of 0.70 and a debt-to-equity ratio of 3.09. FirstEnergy has a 52 week low of $22.85 and a 52 week high of $52.51. The business has a 50 day moving average price of $29.49 and a 200-day moving average price of $30.79.

A number of hedge funds have recently modified their holdings of the stock. Advisory Alpha LLC purchased a new stake in FirstEnergy in the 3rd quarter worth approximately $51,000. UBS Asset Management Americas Inc. lifted its stake in shares of FirstEnergy by 9.1% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,738,157 shares of the utilities provider’s stock valued at $49,902,000 after purchasing an additional 144,273 shares during the last quarter. Sei Investments Co. boosted its stake in FirstEnergy by 2.3% during the third quarter. Sei Investments Co. now owns 282,055 shares of the utilities provider’s stock worth $8,111,000 after buying an additional 6,262 shares during the period. Public Employees Retirement System of Ohio lifted its stake in FirstEnergy by 3.2% in the third quarter. Public Employees Retirement System of Ohio now owns 223,252 shares of the utilities provider’s stock worth $6,410,000 after purchasing an additional 6,882 shares during the last quarter. Finally, Brinker Capital Investments LLC purchased a new stake in shares of FirstEnergy in the third quarter worth approximately $444,000. 71.09% of the stock is currently owned by institutional investors.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 1st. Shareholders of record on Friday, February 5th will be given a dividend of $0.39 per share. The ex-dividend date is Thursday, February 4th. This represents a $1.56 annualized dividend and a yield of 5.07%. FirstEnergy’s payout ratio is 60.47%.

About FirstEnergy

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.

Featured Article: Most Active Stocks

Earnings History and Estimates for FirstEnergy (NYSE:FE)

Receive News & Ratings for FirstEnergy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FirstEnergy and related companies with MarketBeat.com's FREE daily email newsletter.