FirstEnergy Corp. (NYSE:FE) declared a quarterly dividend on Tuesday, July 16th, RTT News reports. Shareholders of record on Wednesday, August 7th will be paid a dividend of 0.38 per share by the utilities provider on Sunday, September 1st. This represents a $1.52 annualized dividend and a yield of 3.48%.
FirstEnergy has a dividend payout ratio of 61.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect FirstEnergy to earn $2.45 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 62.0%.
Shares of FE opened at $43.73 on Thursday. The company has a fifty day simple moving average of $43.09. The company has a current ratio of 0.54, a quick ratio of 0.47 and a debt-to-equity ratio of 2.72. FirstEnergy has a 52-week low of $34.30 and a 52-week high of $44.13. The company has a market cap of $23.14 billion, a P/E ratio of 16.82, a price-to-earnings-growth ratio of 2.87 and a beta of 0.30.
FirstEnergy (NYSE:FE) last issued its quarterly earnings data on Tuesday, April 23rd. The utilities provider reported $0.67 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.68 by ($0.01). FirstEnergy had a net margin of 2.63% and a return on equity of 21.90%. The business had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.88 billion. During the same quarter in the previous year, the firm posted $0.67 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, sell-side analysts forecast that FirstEnergy will post 2.53 EPS for the current fiscal year.
In other news, Director Christopher D. Pappas bought 3,000 shares of the company’s stock in a transaction dated Thursday, May 30th. The stock was bought at an average price of $41.14 per share, for a total transaction of $123,420.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.
Several brokerages have issued reports on FE. Morgan Stanley reiterated an “underweight” rating and issued a C$18.00 price objective on shares of WestJet Airlines in a research report on Friday, April 5th. Bank of America set a $57.00 target price on Lennar and gave the stock a “buy” rating in a research report on Thursday, March 28th. Barclays set a €85.00 ($98.84) target price on Bayer and gave the stock a “buy” rating in a research report on Wednesday, March 20th. Zacks Investment Research downgraded EXACT Sciences from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, KeyCorp restated an “overweight” rating and set a $46.00 target price on shares of FirstEnergy in a research report on Wednesday, June 5th. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $43.13.
FirstEnergy Company Profile
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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