FirstEnergy (NYSE:FE) Releases Quarterly Earnings Results, Beats Estimates By $0.08 EPS

FirstEnergy (NYSE:FE) announced its quarterly earnings results on Tuesday. The utilities provider reported $0.98 EPS for the quarter, topping the consensus estimate of $0.90 by $0.08, FiscalAI reports. The company had revenue of $55.00 million for the quarter, compared to analyst estimates of $4.24 billion. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%.

FirstEnergy Stock Performance

NYSE FE traded up $0.12 during trading on Tuesday, hitting $46.30. The company’s stock had a trading volume of 3,932,493 shares, compared to its average volume of 4,647,007. The company has a quick ratio of 0.45, a current ratio of 0.54 and a debt-to-equity ratio of 1.88. The firm has a 50 day moving average price of $45.50 and a 200 day moving average price of $47.45. The firm has a market cap of $26.79 billion, a P/E ratio of 24.63, a price-to-earnings-growth ratio of 2.71 and a beta of 0.43. FirstEnergy has a 52 week low of $42.67 and a 52 week high of $52.34.

FirstEnergy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 1st. Shareholders of record on Friday, November 6th will be given a $0.4650 dividend. This represents a $1.86 annualized dividend and a yield of 4.0%. The ex-dividend date of this dividend is Friday, November 6th. FirstEnergy’s payout ratio is currently 98.94%.

Analyst Upgrades and Downgrades

FE has been the subject of a number of recent research reports. Mizuho set a $47.00 price objective on shares of FirstEnergy in a report on Monday, October 12th. Jefferies Financial Group reissued a “hold” rating on shares of FirstEnergy in a research report on Thursday, October 22nd. JPMorgan Chase & Co. cut their target price on FirstEnergy from $52.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, October 19th. New Street Research set a $47.00 price target on FirstEnergy in a research report on Tuesday, October 13th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FirstEnergy in a research report on Monday, September 14th. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, FirstEnergy presently has a consensus rating of “Moderate Buy” and a consensus target price of $50.77.

FirstEnergy Company Profile

FirstEnergy Corp. (NYSE: FE) is an electric utility company focused on the transmission and distribution of electricity. Through its regulated utility subsidiaries, the company delivers power to residential, commercial and industrial customers and maintains the poles, lines, substations and other infrastructure that support electric service.

FirstEnergy’s distribution operations serve customers across parts of Ohio, Pennsylvania, New Jersey, West Virginia and Maryland. Its utility companies include Ohio Edison, The Illuminating Company, Toledo Edison, Jersey Central Power & Light, Met-Ed, Penelec, Penn Power, West Penn Power, Mon Power and The Potomac Edison Company.