Research Analysts Issue Forecasts for FirstEnergy Corp.’s Q2 2018 Earnings (FE)

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FirstEnergy Corp. (NYSE:FE) – KeyCorp increased their Q2 2018 earnings per share estimates for FirstEnergy in a research note issued on Wednesday, July 18th. KeyCorp analyst P. Ridzon now expects that the utilities provider will post earnings of $0.56 per share for the quarter, up from their prior estimate of $0.53.

FirstEnergy (NYSE:FE) last released its quarterly earnings data on Monday, April 23rd. The utilities provider reported $0.67 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.01). The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $3.36 billion. FirstEnergy had a positive return on equity of 22.52% and a negative net margin of 5.33%. The business’s revenue for the quarter was down 18.4% compared to the same quarter last year. During the same quarter last year, the business earned $0.78 earnings per share.

Several other equities research analysts also recently commented on FE. Zacks Investment Research downgraded FirstEnergy from a “buy” rating to a “hold” rating in a report on Wednesday. Morgan Stanley raised their target price on FirstEnergy from $36.00 to $39.00 and gave the company a “buy” rating in a report on Monday. ValuEngine downgraded FirstEnergy from a “buy” rating to a “hold” rating in a report on Thursday, May 17th. Barclays started coverage on FirstEnergy in a report on Tuesday, July 10th. They set an “equal weight” rating and a $39.00 price objective on the stock. Finally, Mizuho upgraded FirstEnergy from a “neutral” rating to a “buy” rating in a report on Monday, May 7th. Seven analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $36.48.

FirstEnergy stock opened at $35.64 on Friday. The stock has a market capitalization of $17.01 billion, a PE ratio of 11.61, a PEG ratio of 2.49 and a beta of 0.26. The company has a current ratio of 0.46, a quick ratio of 0.40 and a debt-to-equity ratio of 2.32. FirstEnergy has a 12 month low of $29.33 and a 12 month high of $37.00.

The company also recently announced a quarterly dividend, which will be paid on Saturday, September 1st. Stockholders of record on Tuesday, August 7th will be given a $0.36 dividend. The ex-dividend date is Monday, August 6th. This represents a $1.44 annualized dividend and a dividend yield of 4.04%. FirstEnergy’s payout ratio is 46.91%.

Institutional investors and hedge funds have recently modified their holdings of the company. Reilly Financial Advisors LLC grew its position in shares of FirstEnergy by 285.8% in the 2nd quarter. Reilly Financial Advisors LLC now owns 2,878 shares of the utilities provider’s stock worth $103,000 after acquiring an additional 2,132 shares in the last quarter. Private Capital Group LLC grew its position in shares of FirstEnergy by 1,890.7% in the 1st quarter. Private Capital Group LLC now owns 2,986 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 2,836 shares in the last quarter. Signition LP acquired a new position in shares of FirstEnergy in the 1st quarter worth approximately $204,000. HighPoint Advisor Group LLC acquired a new position in shares of FirstEnergy in the 1st quarter worth approximately $209,000. Finally, Ostrum Asset Management acquired a new position in shares of FirstEnergy in the 1st quarter worth approximately $222,000. Institutional investors own 95.06% of the company’s stock.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates coal-fired, nuclear, hydroelectric, oil and natural gas, wind, and solar power generating facilities.

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Earnings History and Estimates for FirstEnergy (NYSE:FE)

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