Brokerages expect FirstEnergy Corp. (NYSE:FE) to post $2.82 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for FirstEnergy’s earnings, with the lowest sales estimate coming in at $2.80 billion and the highest estimate coming in at $2.84 billion. FirstEnergy reported sales of $2.67 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.6%. The business is scheduled to announce its next quarterly earnings report on Friday, February 5th.
According to Zacks, analysts expect that FirstEnergy will report full year sales of $11.05 billion for the current year, with estimates ranging from $10.99 billion to $11.09 billion. For the next year, analysts anticipate that the business will post sales of $11.74 billion, with estimates ranging from $11.52 billion to $12.06 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for FirstEnergy.
FirstEnergy (NYSE:FE) last released its quarterly earnings data on Saturday, November 7th. The utilities provider reported $0.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.79 by $0.05. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $2.95 billion. FirstEnergy had a return on equity of 20.15% and a net margin of 6.64%. FirstEnergy’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.80 EPS.
Several hedge funds have recently bought and sold shares of the stock. IFM Investors Pty Ltd increased its holdings in shares of FirstEnergy by 21.5% during the 4th quarter. IFM Investors Pty Ltd now owns 49,050 shares of the utilities provider’s stock worth $1,501,000 after acquiring an additional 8,691 shares during the last quarter. Norway Savings Bank acquired a new position in FirstEnergy in the 4th quarter valued at $93,000. Sowell Financial Services LLC grew its holdings in FirstEnergy by 34.3% in the 4th quarter. Sowell Financial Services LLC now owns 33,598 shares of the utilities provider’s stock valued at $1,028,000 after buying an additional 8,573 shares in the last quarter. MADDEN SECURITIES Corp grew its holdings in FirstEnergy by 105.2% in the 4th quarter. MADDEN SECURITIES Corp now owns 118,426 shares of the utilities provider’s stock valued at $3,625,000 after buying an additional 60,721 shares in the last quarter. Finally, Huntington National Bank grew its holdings in FirstEnergy by 165.1% in the 4th quarter. Huntington National Bank now owns 18,263 shares of the utilities provider’s stock valued at $559,000 after buying an additional 11,374 shares in the last quarter. 71.09% of the stock is currently owned by institutional investors and hedge funds.
NYSE FE opened at $30.79 on Thursday. The stock has a market capitalization of $16.71 billion, a price-to-earnings ratio of 22.81 and a beta of 0.16. The stock’s 50 day moving average price is $29.49 and its two-hundred day moving average price is $30.79. The company has a debt-to-equity ratio of 3.09, a quick ratio of 0.60 and a current ratio of 0.70. FirstEnergy has a 52 week low of $22.85 and a 52 week high of $52.51.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 1st. Investors of record on Friday, February 5th will be issued a dividend of $0.39 per share. This represents a $1.56 dividend on an annualized basis and a dividend yield of 5.07%. The ex-dividend date of this dividend is Thursday, February 4th. FirstEnergy’s payout ratio is presently 60.47%.
FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution and Regulated Transmission segments. It owns and operates coal-fired, nuclear, hydroelectric, natural gas, wind, and solar power generating facilities.
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