During the last session, Firstenergy Corp. (NYSE:FE)’s traded shares were 3.19 million, with the beta value of the company hitting 0.48. At the end of the trading day, the stock’s price was $38.01, reflecting an intraday loss of -0.68% or -$0.26. The 52-week high for the FE share is $41.99, that puts it down -10.47 from that peak though still a striking 15.34% gain since the share price plummeted to a 52-week low of $32.18. The company’s market capitalization is $21.83B, and the average intraday trading volume over the past 10 days was 2.83 million shares, and the average trade volume was 3.54 million shares over the past three months.
Firstenergy Corp. (NYSE:FE) trade information
Firstenergy Corp. (FE) registered a -0.68% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.68% in intraday trading to $38.01, hitting a weekly high. The stock’s 5-day price performance is -1.58%, and it has moved by 1.47% in 30 days. Based on these gigs, the overall price performance for the year is -5.21%. The short interest in Firstenergy Corp. (NYSE:FE) is 12.75 million shares and it means that shorts have 4.13 day(s) to cover.
Firstenergy Corp. (FE) estimates and forecasts
Statistics show that Firstenergy Corp. has underperformed its competitors in share price, compared to the industry in which it operates. Firstenergy Corp. (FE) shares have gone up 13.16% during the last six months, with a year-to-date growth rate less than the industry average at 4.69% against 6.80. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 5.00% this quarter and then jump 10.60% in the quarter after that. In the rating firms’ projections, revenue will increase 4.00% compared to the previous financial year.
Revenue for the current quarter is expected to be $3.25 billion as predicted by 5 analyst(s). Meanwhile, a consensus of 5 analyst(s) estimates revenue growth to $3.07 billion by the end of Jun 2024. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $3.23 billion and $3.01 billion respectively. In this case, analysts expect current quarter sales to grow by 0.50% and then jump by 2.00% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 11.68%. While earnings are projected to return 5.11% in 2024, the next five years will return 6.30% per annum.
FE Dividends
Firstenergy Corp. is due to release its next quarterly earnings on April 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Firstenergy Corp. is 1.60, with the dividend yield indicating at 4.21 percent, continuing the trend of increasing dividends in recent years.
Firstenergy Corp. (NYSE:FE)’s Major holders
Firstenergy Corp. insiders own 0.13% of total outstanding shares while institutional holders control 90.43%, with the float percentage being 90.54%. Capital World Investors is the largest shareholder of the company, while 957 institutions own stock in it. As of Dec 30, 2023, the company held over 68.16 million shares (or 11.84% of all shares), a total value of $2.59 billion in shares.
The next largest institutional holding, with 64.89 million shares, is of Vanguard Group Inc’s that is approximately 11.28% of outstanding shares. At the market price on Dec 30, 2023, these shares were valued at $2.47 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Firstenergy Corp. (FE) shares are Washington Mutual Investors Fund and Income Fund of America Inc. Data provided on Jan 30, 2024 indicates that Washington Mutual Investors Fund owns about 23.35 million shares. This amounts to just over 4.06 percent of the company’s overall shares, with a $887.58 million market value. The same data shows that the other fund manager holds slightly less at 20.56 million, or about 3.57% of the stock, which is worth about $781.41 million.
