Research Analysts Offer Predictions for FirstEnergy Corp.’s FY2017 Earnings (FE)
FirstEnergy Corp. (NYSE:FE) – Investment analysts at Jefferies Group increased their FY2017 earnings per share (EPS) estimates for FirstEnergy Corp. in a research report issued to clients and investors on Tuesday. Jefferies Group analyst A. Crowdell now anticipates that the firm will earn $2.80 per share for the year, up from their prior estimate of $2.60. Jefferies Group has a “Hold” rating and a $34.00 price objective on the stock. Jefferies Group also issued estimates for FirstEnergy Corp.’s FY2019 earnings at $2.50 EPS.
Several other research analysts have also commented on the company. Tudor Pickering lowered FirstEnergy Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday. Evercore ISI raised FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research report on Tuesday. Citigroup Inc. raised FirstEnergy Corp. from a “sell” rating to a “neutral” rating and upped their target price for the company from $29.00 to $31.00 in a research report on Tuesday. Royal Bank Of Canada reduced their target price on FirstEnergy Corp. from $38.00 to $36.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 13th. Finally, RBC Capital Markets reaffirmed a “hold” rating and set a $36.00 target price (down from $38.00) on shares of FirstEnergy Corp. in a research report on Thursday, October 13th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $35.97.
FirstEnergy Corp. (NYSE:FE) traded down 0.06% on Wednesday, hitting $33.14. The stock had a trading volume of 4,466,816 shares. FirstEnergy Corp. has a 12 month low of $28.89 and a 12 month high of $36.60. The stock’s market cap is $14.09 billion. The company’s 50 day moving average is $32.78 and its 200-day moving average is $33.72.
FirstEnergy Corp. (NYSE:FE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.56 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.54 by $0.02. FirstEnergy Corp. had a positive return on equity of 10.05% and a negative net margin of 3.96%. During the same quarter in the previous year, the company posted $0.53 EPS.
Hedge funds have recently modified their holdings of the company. Signature Estate & Investment Advisors LLC bought a new stake in shares of FirstEnergy Corp. during the second quarter worth approximately $126,000. FUKOKU MUTUAL LIFE INSURANCE Co increased its stake in shares of FirstEnergy Corp. by 19.4% in the second quarter. FUKOKU MUTUAL LIFE INSURANCE Co now owns 3,700 shares of the company’s stock worth $129,000 after buying an additional 600 shares during the last quarter. Assetmark Inc. increased its stake in shares of FirstEnergy Corp. by 1,112.0% in the second quarter. Assetmark Inc. now owns 4,048 shares of the company’s stock worth $141,000 after buying an additional 3,714 shares during the last quarter. Checchi Capital Advisers LLC increased its stake in shares of FirstEnergy Corp. by 6.6% in the second quarter. Checchi Capital Advisers LLC now owns 4,569 shares of the company’s stock worth $160,000 after buying an additional 281 shares during the last quarter. Finally, City Holding Co. increased its stake in shares of FirstEnergy Corp. by 19.2% in the second quarter. City Holding Co. now owns 4,861 shares of the company’s stock worth $170,000 after buying an additional 782 shares during the last quarter. Hedge funds and other institutional investors own 75.86% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Thursday, December 1st. Stockholders of record on Monday, November 7th will be paid a $0.36 dividend. The ex-dividend date is Thursday, November 3rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 4.34%. FirstEnergy Corp.’s payout ratio is -103.60%.
About FirstEnergy Corp.
FirstEnergy Corp. is a holding company. The Company operates through three segments: Regulated Distribution, Regulated Transmission and Competitive Energy Services (CES). The Regulated Distribution segment distributes electricity through its approximately 10 utility operating companies. The Regulated Transmission segment transmits electricity through transmission facilities.
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