FirstEnergy Corp. (FE) to Post FY2016 Earnings of $2.65 Per Share, KeyCorp Forecasts
FirstEnergy Corp. (NYSE:FE) – Research analysts at KeyCorp lifted their FY2016 earnings per share (EPS) estimates for FirstEnergy Corp. in a research report issued on Sunday. KeyCorp analyst P. Ridzon now forecasts that the firm will earn $2.65 per share for the year, up from their previous forecast of $2.55. KeyCorp also issued estimates for FirstEnergy Corp.’s Q4 2016 earnings at $0.39 EPS and FY2017 earnings at $2.70 EPS.
Other equities research analysts have also issued research reports about the stock. Evercore ISI upgraded shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating in a research note on Tuesday, October 18th. Jefferies Group set a $36.00 price target on shares of FirstEnergy Corp. and gave the company a “hold” rating in a research note on Wednesday, October 12th. Deutsche Bank AG upgraded shares of FirstEnergy Corp. from a “hold” rating to a “buy” rating and dropped their price target for the company from $38.00 to $37.00 in a research note on Tuesday, October 25th. Citigroup Inc. raised their price target on shares of FirstEnergy Corp. from $28.00 to $31.00 and gave the company a “sell” rating in a research note on Wednesday, July 20th. Finally, Tudor Pickering lowered shares of FirstEnergy Corp. from a “hold” rating to a “sell” rating in a research note on Wednesday, October 19th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $36.07.
Shares of FirstEnergy Corp. (NYSE:FE) opened at 33.49 on Tuesday. The stock’s market cap is $14.23 billion. FirstEnergy Corp. has a 1-year low of $29.62 and a 1-year high of $36.60. The company has a 50-day moving average price of $33.09 and a 200-day moving average price of $33.56.
FirstEnergy Corp. (NYSE:FE) last posted its earnings results on Friday, November 4th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.14. FirstEnergy Corp. had a positive return on equity of 10.06% and a negative net margin of 4.12%. During the same period last year, the company posted $0.98 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 1st. Investors of record on Monday, November 7th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date of this dividend is Thursday, November 3rd. FirstEnergy Corp.’s dividend payout ratio is -100.70%.
A number of institutional investors have recently bought and sold shares of the company. Security National Trust Co. raised its position in FirstEnergy Corp. by 914.0% in the third quarter. Security National Trust Co. now owns 3,042 shares of the company’s stock worth $101,000 after buying an additional 2,742 shares in the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in FirstEnergy Corp. during the second quarter worth approximately $126,000. FUKOKU MUTUAL LIFE INSURANCE Co raised its position in 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 in the last quarter. Assetmark Inc. raised its position in 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 in the last quarter. Finally, Checchi Capital Advisers LLC raised 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 period. 75.86% of the stock is owned by hedge funds and other institutional investors.
FirstEnergy Corp. Company Profile
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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