FirstEnergy (NYSE:FE) Issues Quarterly Earnings Results

FirstEnergy (NYSE:FEGet Free Report) announced its quarterly earnings results on Thursday. The utilities provider reported $0.62 EPS for the quarter, beating the consensus estimate of $0.60 by $0.02, reports. FirstEnergy had a net margin of 4.06% and a return on equity of 12.93%. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the firm earned $0.50 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year.

FirstEnergy Stock Up 3.6 %

Shares of NYSE FE traded up $1.30 during midday trading on Friday, hitting $37.09. The stock had a trading volume of 6,392,328 shares, compared to its average volume of 4,096,886. The business’s 50 day moving average is $37.07 and its 200-day moving average is $36.54. The company has a market cap of $21.28 billion, a P/E ratio of 46.25 and a beta of 0.49. FirstEnergy has a 52 week low of $32.18 and a 52 week high of $41.99. 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 company also recently announced a quarterly dividend, which will be paid on Friday, March 1st. Stockholders of record on Wednesday, February 7th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, February 6th. This represents a $1.64 annualized dividend and a dividend yield of 4.42%. FirstEnergy’s dividend payout ratio is presently 205.00%.

Insider Transactions at FirstEnergy

In related news, SVP Christine Walker sold 12,500 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $37.58, for a total transaction of $469,750.00. Following the transaction, the senior vice president now owns 36,959 shares in the company, valued at $1,388,919.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.08% of the company’s stock.

Institutional Trading of FirstEnergy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in FE. Clear Street Markets LLC increased its holdings in 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 buying an additional 549 shares during the last quarter. Certified Advisory Corp purchased a new stake in shares of FirstEnergy in the first quarter worth $29,000. Cornerstone Planning Group LLC purchased a new stake in shares of FirstEnergy in the second quarter worth $31,000. MUFG Americas Holdings Corp purchased a new stake in shares of FirstEnergy in the third quarter worth $32,000. Finally, KB Financial Partners LLC purchased a new stake in shares of FirstEnergy in the first quarter worth $34,000. 82.34% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Morgan Stanley dropped their price objective on shares of FirstEnergy from $44.00 to $42.00 and set an “overweight” rating for the company in a report on Wednesday, October 25th. raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a research note on Monday, October 30th. JPMorgan Chase & Co. lowered their price target on shares of FirstEnergy from $42.00 to $39.00 and set a “neutral” rating for the company in a research note on Thursday, October 12th. Finally, KeyCorp boosted their price target on shares of FirstEnergy from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Thursday, January 4th. One 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $39.67.

View Our Latest Research Report on FirstEnergy

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.

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Earnings History for FirstEnergy (NYSE:FE)

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