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

FirstEnergy (NYSE:FEGet Free Report) released its quarterly earnings results on Friday. The utilities provider reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.60 by $0.02, reports. The business had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FirstEnergy had a return on equity of 13.53% and a net margin of 8.56%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $0.50 EPS.

FirstEnergy Stock Performance

Shares of FirstEnergy stock opened at $37.31 on Friday. FirstEnergy has a 52 week low of $32.18 and a 52 week high of $41.99. The company has a market capitalization of $21.41 billion, a PE ratio of 20.61 and a beta of 0.49. The stock’s fifty day moving average is $37.07 and its two-hundred day moving average is $36.50. The company has a quick ratio of 0.43, a current ratio of 0.53 and a debt-to-equity ratio of 2.09.

FirstEnergy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Wednesday, February 7th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 4.40%. The ex-dividend date is Tuesday, February 6th. FirstEnergy’s payout ratio is currently 90.61%.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. KeyCorp upped their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the company an “overweight” rating in a research note on Thursday, January 4th. raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a report on Monday, October 30th. Finally, Morgan Stanley reduced their price objective on FirstEnergy from $44.00 to $42.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $39.67.

View Our Latest Research Report on FE

Insider Activity

In other FirstEnergy news, SVP Christine Walker sold 12,500 shares of the business’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $37.58, for a total value of $469,750.00. Following the completion of the sale, the senior vice president now directly owns 36,959 shares of the company’s stock, valued at approximately $1,388,919.22. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.08% of the company’s stock.

Institutional Investors Weigh In On FirstEnergy

Several hedge funds have recently made changes to their positions in FE. Clear Street Markets LLC boosted its stake in shares of FirstEnergy by 549.0% during the fourth quarter. Clear Street Markets LLC now owns 649 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 549 shares in the last quarter. Certified Advisory Corp purchased a new position in shares of FirstEnergy in the 1st quarter valued at $29,000. Cornerstone Planning Group LLC bought a new position in shares of FirstEnergy in the 2nd quarter worth $31,000. KB Financial Partners LLC purchased a new stake in shares of FirstEnergy during the 1st quarter worth $34,000. Finally, MUFG Americas Holdings Corp bought a new stake in FirstEnergy during the third quarter valued at about $32,000. 82.34% of the stock is currently owned by hedge funds and other institutional investors.

FirstEnergy Company Profile

(Get Free Report)

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.

See Also

Earnings History for FirstEnergy (NYSE:FE)

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