Zacks Research Comments on FirstEnergy Corp.’s Q3 2024 Earnings (NYSE:FE)

FirstEnergy Corp. (NYSE:FE) – Zacks Research raised their Q3 2024 earnings per share estimates for FirstEnergy in a note issued to investors on Thursday, June 13th. Zacks Research analyst R. Department now anticipates that the utilities provider will post earnings per share of $0.87 for the quarter, up from their prior estimate of $0.86. The consensus estimate for FirstEnergy’s current full-year earnings is $2.69 per share. Zacks Research also issued estimates for FirstEnergy’s Q2 2025 earnings at $0.69 EPS, Q3 2025 earnings at $0.90 EPS and Q4 2025 earnings at $0.70 EPS.

FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. FirstEnergy had a net margin of 8.22% and a return on equity of 12.45%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.36 billion.

Several other equities analysts have also issued reports on FE. Scotiabank lowered their target price on shares of FirstEnergy from $41.00 to $40.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Mizuho raised their price target on shares of FirstEnergy from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Monday, June 3rd. Bank of America raised their price target on shares of FirstEnergy from $30.00 to $35.00 and gave the company an “underperform” rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on shares of FirstEnergy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $45.00 target price for the company. Finally, StockNews.com raised shares of FirstEnergy from a “sell” rating to a “hold” rating in a research report on Monday, April 29th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, FirstEnergy has an average rating of “Hold” and a consensus target price of $40.27.

FirstEnergy Price Performance

FE stock opened at $38.17 on Monday. The firm has a 50 day moving average price of $38.91 and a 200-day moving average price of $37.92. FirstEnergy has a 52-week low of $32.18 and a 52-week high of $40.65. The firm has a market capitalization of $21.97 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 2.46 and a beta of 0.50. The company has a debt-to-equity ratio of 1.59, a quick ratio of 0.56 and a current ratio of 0.65.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Beacon Pointe Advisors LLC boosted its holdings in FirstEnergy by 1.0% in the 4th quarter. Beacon Pointe Advisors LLC now owns 37,050 shares of the utilities provider’s stock worth $1,358,000 after buying an additional 376 shares during the period. Duality Advisers LP bought a new position in shares of FirstEnergy during the 4th quarter valued at about $1,644,000. Citigroup Inc. boosted its holdings in shares of FirstEnergy by 27.3% during the 3rd quarter. Citigroup Inc. now owns 1,018,422 shares of the utilities provider’s stock valued at $34,810,000 after purchasing an additional 218,439 shares during the last quarter. Lumbard & Kellner LLC purchased a new stake in shares of FirstEnergy during the 4th quarter valued at about $2,418,000. Finally, First Pacific Advisors LP raised its position in shares of FirstEnergy by 1.3% during the 4th quarter. First Pacific Advisors LP now owns 3,481,258 shares of the utilities provider’s stock valued at $127,623,000 after buying an additional 45,350 shares in the last quarter. Institutional investors own 89.41% of the company’s stock.

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.