FirstEnergy FY2027 EPS Forecast Reduced by Seaport Res Ptn

FirstEnergy Corp. (NYSE:FE) – Seaport Res Ptn reduced their FY2027 earnings per share estimates for FirstEnergy in a research note issued on Thursday, October 31st. Seaport Res Ptn analyst A. Storozynski now expects that the utilities provider will post earnings of $3.33 per share for the year, down from their prior estimate of $3.34. Seaport Res Ptn currently has a “Hold” rating on the stock. The consensus estimate for FirstEnergy’s current full-year earnings is $2.69 per share.

A number of other research firms have also recently issued reports on FE. Morgan Stanley lifted their price objective on FirstEnergy from $48.00 to $51.00 and gave the company an “overweight” rating in a research report on Wednesday, September 25th. Barclays lifted their price target on FirstEnergy from $40.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of FirstEnergy from $45.00 to $46.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Argus raised shares of FirstEnergy from a “hold” rating to a “buy” rating and set a $50.00 target price for the company in a research report on Friday, September 20th. Finally, Bank of America raised their price target on shares of FirstEnergy from $42.00 to $43.00 and gave the company an “underperform” rating in a report on Thursday, August 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.00.

FirstEnergy Trading Up 0.8 %

Shares of NYSE:FE opened at $41.89 on Monday. FirstEnergy has a 12-month low of $34.92 and a 12-month high of $44.97. The company has a quick ratio of 0.46, a current ratio of 0.56 and a debt-to-equity ratio of 1.58. The firm has a market capitalization of $24.14 billion, a P/E ratio of 27.02, a price-to-earnings-growth ratio of 2.24 and a beta of 0.51. The firm has a fifty day moving average of $43.55 and a two-hundred day moving average of $41.19.

FirstEnergy (NYSE:FE) last released its earnings results on Tuesday, October 29th. The utilities provider reported $0.85 earnings per share for the quarter, missing the consensus estimate of $0.90 by ($0.05). FirstEnergy had a net margin of 6.64% and a return on equity of 11.38%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.96 billion. During the same period last year, the firm earned $0.88 EPS. The company’s revenue was up 6.9% compared to the same quarter last year.

Institutional Investors Weigh In On FirstEnergy

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Capital World Investors boosted its stake in FirstEnergy by 14.3% during the 1st quarter. Capital World Investors now owns 77,928,914 shares of the utilities provider’s stock valued at $3,009,615,000 after purchasing an additional 9,773,785 shares during the period. Boston Partners boosted its position in shares of FirstEnergy by 2.3% in the first quarter. Boston Partners now owns 9,517,314 shares of the utilities provider’s stock valued at $367,423,000 after acquiring an additional 218,165 shares during the period. Allspring Global Investments Holdings LLC grew its stake in shares of FirstEnergy by 5.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 9,098,472 shares of the utilities provider’s stock worth $403,517,000 after acquiring an additional 457,231 shares during the last quarter. First Pacific Advisors LP increased its position in FirstEnergy by 2.0% during the second quarter. First Pacific Advisors LP now owns 3,557,667 shares of the utilities provider’s stock worth $136,152,000 after acquiring an additional 69,512 shares during the period. Finally, 1832 Asset Management L.P. increased its position in FirstEnergy by 7.6% during the second quarter. 1832 Asset Management L.P. now owns 2,725,050 shares of the utilities provider’s stock worth $104,288,000 after acquiring an additional 193,540 shares during the period. 89.41% of the stock is owned by institutional investors and hedge funds.

FirstEnergy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Sunday, December 1st. Shareholders of record on Thursday, November 7th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.06%. The ex-dividend date is Thursday, November 7th. FirstEnergy’s dividend payout ratio (DPR) is 109.68%.

FirstEnergy Company Profile

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.