FirstEnergy (NYSE:FE) Updates FY 2024 Earnings Guidance

FirstEnergy (NYSE:FE) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 2.610-2.810 for the period, compared to the consensus EPS estimate of 2.690. The company issued revenue guidance of -. FirstEnergy also updated its FY24 guidance to $2.61-2.81 EPS.

FirstEnergy Stock Up 0.7 %

FE stock traded up $0.28 during midday trading on Tuesday, hitting $41.80. 3,958,678 shares of the company’s stock were exchanged, compared to its average volume of 2,962,592. The stock has a market capitalization of $24.06 billion, a price-to-earnings ratio of 23.84, a price-to-earnings-growth ratio of 2.58 and a beta of 0.49. The company has a current ratio of 0.65, a quick ratio of 0.56 and a debt-to-equity ratio of 1.59. The firm has a 50 day moving average price of $39.11 and a 200-day moving average price of $38.30. FirstEnergy has a 12-month low of $32.18 and a 12-month high of $41.90.

FirstEnergy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Sunday, September 1st. Shareholders of record on Wednesday, August 7th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 4.07%. The ex-dividend date of this dividend is Wednesday, August 7th. FirstEnergy’s dividend payout ratio is presently 97.70%.

Wall Street Analyst Weigh In

FE has been the subject of several recent research reports. Barclays upped their target price on FirstEnergy from $39.00 to $40.00 and gave the company an equal weight rating in a report on Tuesday, July 9th. Bank of America boosted their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the company an underperform rating in a report on Tuesday, April 23rd. Mizuho increased their price objective on shares of FirstEnergy from $38.00 to $41.00 and gave the stock a neutral rating in a report on Monday, June 3rd. Scotiabank reduced their target price on shares of FirstEnergy from $41.00 to $40.00 and set a sector perform rating for the company in a research note on Monday, April 22nd. Finally, StockNews.com upgraded shares of FirstEnergy from a sell rating to a hold rating in a research report on Monday, April 29th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, FirstEnergy currently has an average rating of Hold and an average price target of $40.55.

About FirstEnergy

FirstEnergy Corp., through its subsidiaries, generates, transmits, and distributes electricity in the United States. It operates through Regulated Distribution and Regulated Transmission segments. The company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities.