KeyCorp Comments on FirstEnergy’s FY2028 Earnings (NYSE:FE)

FirstEnergy Corporation (NYSE:FE) – Research analysts at KeyCorp decreased their FY2028 EPS estimates for FirstEnergy in a research report issued on Monday, October 12th. KeyCorp analyst S. Karp now expects that the utilities provider will earn $3.14 per share for the year, down from their previous estimate of $3.17. The consensus estimate for FirstEnergy’s current full-year earnings is $2.74 per share. KeyCorp also issued estimates for FirstEnergy’s FY2029 earnings at $3.34 EPS.

FirstEnergy (NYSE:FE) last posted its earnings results on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.50. FirstEnergy had a net margin of 6.86% and a return on equity of 10.51%. The company had revenue of $3.68 billion during the quarter, compared to analysts’ expectations of $3.51 billion. During the same quarter in the previous year, the company posted $0.52 earnings per share.

FE has been the subject of a number of other reports. Morgan Stanley dropped their price target on FirstEnergy from $52.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, September 18th. Wall Street Zen raised FirstEnergy from a “sell” rating to a “hold” rating in a research note on Saturday, September 19th. New Street Research set a $47.00 target price on FirstEnergy in a report on Tuesday. Mizuho set a $47.00 target price on FirstEnergy in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FirstEnergy in a report on Monday, September 14th. Six analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, FirstEnergy currently has a consensus rating of “Moderate Buy” and a consensus price target of $51.27.

FirstEnergy Stock Up 0.4%

NYSE FE opened at $45.40 on Thursday. The firm has a market cap of $26.27 billion, a PE ratio of 17.52, a price-to-earnings-growth ratio of 2.61 and a beta of 0.43. FirstEnergy has a one year low of $42.67 and a one year high of $52.34. The stock’s 50 day simple moving average is $45.66 and its 200 day simple moving average is $47.13. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.54 and a quick ratio of 0.45.

Institutional Investors Weigh In On FirstEnergy

Several hedge funds have recently bought and sold shares of the company. Bryn Mawr Trust Advisors LLC acquired a new position in shares of FirstEnergy in the 2nd quarter valued at $9,878,000. Assenagon Asset Management S.A. increased its position in shares of FirstEnergy by 6,066.6% in the 2nd quarter. Assenagon Asset Management S.A. now owns 495,299 shares of the utilities provider’s stock valued at $23,547,000 after buying an additional 487,267 shares in the last quarter. Nykredit A S bought a new stake in shares of FirstEnergy in the 2nd quarter valued at $1,033,000. Engineers Gate Manager LP raised its stake in FirstEnergy by 612.9% during the 2nd quarter. Engineers Gate Manager LP now owns 93,410 shares of the utilities provider’s stock worth $4,441,000 after buying an additional 80,308 shares during the period. Finally, Hsbc Holdings PLC raised its stake in FirstEnergy by 32.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,141,365 shares of the utilities provider’s stock worth $54,332,000 after buying an additional 282,866 shares during the period. 89.41% of the stock is currently owned by institutional investors and hedge funds.

FirstEnergy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be paid a dividend of $0.4650 per share. The ex-dividend date of this dividend is Friday, November 6th. This represents a $1.86 dividend on an annualized basis and a dividend yield of 4.1%. FirstEnergy’s payout ratio is 98.94%.

About FirstEnergy

FirstEnergy Corp. is an electric utility holding company focused primarily on regulated electricity transmission and distribution. Through its operating companies, the company delivers electricity to residential, commercial and industrial customers and maintains the infrastructure needed to support reliable service.

FirstEnergy’s utility subsidiaries include Ohio Edison, The Illuminating Company and Toledo Edison in Ohio; Met-Ed, Penelec, Penn Power and West Penn Power in Pennsylvania; Jersey Central Power & Light in New Jersey; and Mon Power and Potomac Edison in West Virginia and Maryland.