FirstEnergy (NYSE:FE) Updates Q3 2024 Earnings Guidance

FirstEnergy (NYSE:FE) updated its third quarter 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 0.850-0.950 for the period, compared to the consensus earnings per share estimate of 0.890. The company issued revenue guidance of -. FirstEnergy also updated its FY 2024 guidance to 2.610-2.810 EPS.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank of America raised their target price on shares of FirstEnergy from $30.00 to $35.00 and gave the company an underperform rating in a report on Tuesday, April 23rd. StockNews.com upgraded FirstEnergy from a sell rating to a hold rating in a research report on Monday, April 29th. The Goldman Sachs Group started coverage on FirstEnergy in a research report on Wednesday, April 10th. They set a buy rating and a $45.00 target price for the company. Barclays lifted their target price on FirstEnergy from $39.00 to $40.00 and gave the stock an equal weight rating in a research report on Tuesday, July 9th. Finally, Scotiabank decreased their target price on FirstEnergy from $41.00 to $40.00 and set a sector perform rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $40.55.

FirstEnergy Stock Up 0.7 %

Shares of FE stock traded up $0.28 on Tuesday, hitting $41.80. The stock had a trading volume of 3,957,671 shares, compared to its average volume of 2,962,592. The company has a quick ratio of 0.56, a current ratio of 0.65 and a debt-to-equity ratio of 1.59. The business has a 50 day moving average price of $39.14 and a 200 day moving average price of $38.32. The company has a market cap of $24.06 billion, a PE ratio of 24.02, a P/E/G ratio of 2.58 and a beta of 0.49. FirstEnergy has a one year low of $32.18 and a one year high of $41.90.

FirstEnergy Announces Dividend

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

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.