What is KeyCorp's Forecast for FirstEnergy FY2028 Earnings?

Key Points

• KeyCorp lowered its FY2028 EPS forecast for FirstEnergy to $3.14 from $3.17, still above the broader consensus estimate of $2.74. KeyCorp projects FY2029 EPS of $3.34.
• Analyst sentiment remains positive, with a consensus “Moderate Buy” rating and an average price target of $51.27, although several firms recently reduced their targets to approximately $47–$49.
• FirstEnergy reported quarterly EPS of $0.50, matching expectations, and declared a quarterly dividend of $0.465 per share, equivalent to a 4.1% yield and $1.86 annualized payout.

FirstEnergy Corporation (NYSE:FE - Free Report) - Analysts at KeyCorp reduced their FY2028 earnings per share estimates for shares of FirstEnergy in a report released on Monday, October 12th. KeyCorp analyst S. Karp now anticipates 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.

Several other research analysts have also commented on FE. Barclays decreased their price target on shares of FirstEnergy from $54.00 to $49.00 and set an "overweight" rating for the company in a report on Monday. New Street Research set a $47.00 price objective on shares of FirstEnergy in a research note on Tuesday. Morgan Stanley cut their target price on shares of FirstEnergy from $52.00 to $49.00 and set an "overweight" rating on the stock in a report on Friday, September 18th. 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 equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $51.27.

FirstEnergy Trading Up 0.4%

FirstEnergy stock opened at $45.40 on Thursday. The firm's 50-day moving average is $45.66 and its 200-day moving average is $47.13. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.45 and a current ratio of 0.54. FirstEnergy has a 1 year low of $42.67 and a 1 year high of $52.34. The company has a market cap of $26.27 billion, a P/E ratio of 17.52, a PEG ratio of 2.61 and a beta of 0.43.

FirstEnergy (NYSE:FE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The utilities provider reported $0.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.50. FirstEnergy had a return on equity of 10.51% and a net margin of 6.86%. The firm had revenue of $3.68 billion for the quarter, compared to analysts' expectations of $3.51 billion. During the same period last year, the business posted $0.52 earnings per share.

FirstEnergy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Investors of record on Friday, November 6th will be given a $0.4650 dividend. The ex-dividend date is Friday, November 6th. This represents a $1.86 annualized dividend and a yield of 4.1%. FirstEnergy's dividend payout ratio (DPR) is currently 98.94%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Allspring Global Investments Holdings LLC grew its stake in shares of FirstEnergy by 7.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 9,971,706 shares of the utilities provider's stock valued at $508,158,000 after purchasing an additional 694,449 shares during the period. Bank of America Corp DE lifted its position in shares of FirstEnergy by 11.9% during the 1st quarter. Bank of America Corp DE now owns 5,396,317 shares of the utilities provider's stock worth $273,377,000 after buying an additional 573,731 shares during the period. Electron Capital Partners LLC lifted its position in shares of FirstEnergy by 103.2% during the 1st quarter. Electron Capital Partners LLC now owns 2,991,914 shares of the utilities provider's stock worth $151,570,000 after buying an additional 1,519,737 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in FirstEnergy by 2.2% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,719,645 shares of the utilities provider's stock valued at $129,292,000 after buying an additional 59,097 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in FirstEnergy by 1.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,627,745 shares of the utilities provider's stock valued at $133,116,000 after buying an additional 35,259 shares in the last quarter. 89.41% of the stock is owned by institutional investors and hedge funds.

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.

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