FirstEnergy (NYSE:FE) Stock, Quote.Headers.trade-ideas

FirstEnergy

FirstEnergy is an investor-owned holding company with 10 regulated distribution utilities across six mid-Atlantic and Midwestern states. FirstEnergy also owns and operates one of the nation's largest electric transmission systems.

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FirstEnergy Corporation&#39;s (NYSE: FE) continuous capital investments to maintain and increase resiliency are likely to strengthen its infrastructure, which will help enhance its performance. Given its growth opportunities, FE makes for a solid investment option in the Utility sector.

Here&#39;s Why You Should Add FirstEnergy Stock to Your Portfolio Now

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Top 2 Utilities Stocks That May Implode In Q3

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PG&amp;E Corporation (NYSE: PCG) is poised to benefit from positive developments like steady infrastructural investments, the addition of clean energy projects and initiatives to build California&#39;s electric vehicle charging infrastructure.

Reasons to Add PG&amp;E Stock to Your Portfolio Now

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He succeeds John W. Somerhalder II, who will remain a director of the Board. Lisa Winston Hicks will remain the Board's Lead Independent Director.

Management

FirstEnergy Says President And CEO Brian Tierney Has Been Elected By Board To Additional Role Of Chair, Effective Jan. 1, 2025

Scotiabank analyst Andrew Weisel upgrades FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) from Sector Perform to Sector Outperform and raises the price target from $45 to $50.

Upgrades

Price Target

Scotiabank Upgrades FirstEnergy to Sector Outperform, Raises Price Target to $50

In the current market session, FirstEnergy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) share price is at $40.42, after a 0.75% spike. Moreover, over the past month, the stock decreased by 1.74%, but in the past year, spiked by 8.49%. Shareholders might be interested in knowing whether the stock is overvalued, even if the company is performing up to par in the current session. 

<img src="https://www.benzinga.com/files/images/story/2024/1734011192_0.png" alt="Past Year Chart" />

<h3>Comparing FirstEnergy P/E Against Its Peers</h3>
The P/E ratio measures the current share price to the company's EPS. It is used by long-term investors to analyze the company's current performance against it's past earnings, historical data and aggregate market data for the industry or the indices, such as S&amp;P 500. A higher P/E indicates that investors expect the company to perform better in the future, and the stock is probably overvalued, but not necessarily. It also could indicate that investors are willing to pay a higher share price currently, because they expect the company to perform better in the upcoming quarters. This leads investors to also remain optimistic about rising dividends in the future. 
Compared to the aggregate P/E ratio of 17.74 in the Electric Utilities industry, FirstEnergy Inc. has a higher P/E ratio of 25.88. Shareholders might be inclined to think that FirstEnergy Inc. might perform better than its industry group. It's also possible that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1734011192_1.png" alt="Guage" />

In summary, while the price-to-earnings ratio is a valuable tool for investors to evaluate a company's market performance, it should be used with caution. A low P/E ratio can be an indication of undervaluation, but it can also suggest weak growth prospects or financial instability. Moreover, the P/E ratio is just one of many metrics that investors should consider when making investment decisions, and it should be evaluated alongside other financial ratios, industry trends, and qualitative factors. By taking a comprehensive approach to analyzing a company's financial health, investors can make well-informed decisions that are more likely to lead to successful outcomes.

Intraday Update

Price Over Earnings Overview: FirstEnergy

Keybanc analyst Sophie Karp maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Overweight and lowers the price target from $48 to $47.

Keybanc Maintains Overweight on FirstEnergy, Lowers Price Target to $47

FirstEnergy's (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) short percent of float has fallen 6.05% since its last report. The company recently reported that it has 10.30 million shares sold short, which is 2.33% of all regular shares that are available for trading. Based on its trading volume, it would take traders 3.5 days to cover their short positions on average.
<h3>Why Short Interest Matters</h3>
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. <a href="https://www.benzinga.com/money/how-to-short-a-stock/">Short selling</a> is when a trader sells shares of a company they do not own, with the hope that the price will fall. Traders make money from short selling if the price of the stock falls and they lose if it rises.
Short interest is important to track because it can act as an indicator of market sentiment towards a particular stock. An increase in short interest can signal that investors have become more bearish, while a decrease in short interest can signal they have become more bullish.
See Also: <a href="https://www.benzinga.com/short-interest">List of the most shorted stocks</a>
<h3>FirstEnergy Short Interest Graph (3 Months)</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1732298411_0.png" alt="short_fig" />
As you can see from the chart above the percentage of shares that are sold short for FirstEnergy has declined since its last report. This does not mean that the stock is going to rise in the near-term but traders should be aware that less shares are being shorted.
<h3>Comparing FirstEnergy's Short Interest Against Its Peers</h3>
Peer comparison is a popular technique amongst analysts and investors for gauging how well a company is performing. A company's peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company's peer group by reading its 10-K, proxy filing, or by doing your own similarity analysis.
According to <a href="https://pro.benzinga.com/">Benzinga Pro</a>, FirstEnergy's peer group average for short interest as a percentage of float is 1.97%, which means the company has more short interest than most of its peers.
Did you know that increasing short interest can actually be bullish for a stock? <a href="https://www.benzinga.com/money/how-to-make-money-on-a-short-squeeze/">This post by Benzinga Money explains how you can profit from it.</a>
This article was generated by Benzinga's automated content engine and was reviewed by an editor.

Short Sellers

Looking Into FirstEnergy's Recent Short Interest

Morgan Stanley analyst David Arcaro maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Overweight and lowers the price target from $52 to $50.

Morgan Stanley Maintains Overweight on FirstEnergy, Lowers Price Target to $50

FirstEnergy Secures $50M U.S. Department Of Energy Grant For Smart Grid Enhancements, Aiming To Boost Reliability For Over 53,000 Customers In West Virginia And Maryland

Seaport Global analyst Angie Storozynski downgrades FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) from Buy to Neutral.

Downgrades

Seaport Global Downgrades FirstEnergy to Neutral

Guidance

FirstEnergy Says Load Requests For Facilities Of 500 MW Or More Have Already More Than Tripled Compared To 2023

If approved by&nbsp;PUCO, companies would revert to a previous rate plan
AKRON, Ohio, Oct. 29, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) Ohio electric companies – Ohio Edison, The Illuminating Company, and Toledo Edison – have filed a notice with the Public Utilities Commission of Ohio (PUCO) to withdraw their current Electric Security Plan (ESP) 5, which took effect on June 1. If approved by the PUCO, the companies would revert to their prior ESP4, which was in effect through May 31, 2024.

FirstEnergy's Ohio Electric Companies File To Withdraw Electric Security Plan, If Approved By PUCO, Companies Would Revert To A Previous Rate Plan

FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) reported quarterly earnings of $0.85 per share which missed the analyst consensus estimate of $0.90 by 5.56 percent. The company reported quarterly sales of $3.700 billion which missed the analyst consensus estimate of $3.907 billion by 5.30 percent. This is a 6.11 percent increase over sales of $3.487 billion the same period last year.

Earnings Misses

FirstEnergy Q3 2024 Adj. EPS $0.85 Misses $0.90 Estimate, Sales $3.700B Miss $3.907B Estimate

FirstEnergy Sees FY 2024 Adj. EPS $2.61-$2.71 Per Share Vs $2.70 Est.

FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) reported quarterly earnings of $0.85 per share which missed the analyst consensus estimate of $0.90 by 5.56 percent. The company reported quarterly sales of $3.70 billion which missed the analyst consensus estimate of $3.91 billion by 5.30 percent. This is a 6.11 percent increase over sales of $3.49 billion the same period last year.

FirstEnergy Q3 2024 Adj EPS $0.85 Misses $0.90 Estimate, Sales $3.70B Miss $3.91B Estimate

Keybanc analyst Sophie Karp maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Overweight and raises the price target from $47 to $48.

Keybanc Maintains Overweight on FirstEnergy, Raises Price Target to $48

JP Morgan analyst Jeremy Tonet maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Neutral and raises the price target from $45 to $46.

JP Morgan Maintains Neutral on FirstEnergy, Raises Price Target to $46

Jefferies analyst Julien Dumoulin-Smith initiates coverage on FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Hold rating and announces Price Target of $46.

Initiation

Jefferies Initiates Coverage On FirstEnergy with Hold Rating, Announces Price Target of $46

Project to enhance reliability for more than 3,000 customers in four West Virginia counties
FAIRMONT, W.Va., Oct. 11, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) subsidiary Mon Power has been awarded $5 million in federal funding by the U.S. Department of Energy's Office of Clean Energy Demonstrations (OCED) for a project that will enhance electric service reliability for customers in parts of rural West Virginia. The funding is part of the Energy Improvements in Rural or Remote Areas (ERA) program established by the Bipartisan Infrastructure Law.

Contracts

FirstEnergy's Mon Power Awarded $5M In Federal Funding By The U.S. Department Of Energy's Office Of Clean Energy Demonstrations For A Project That Will Enhance Electric Service Reliability For Customers In Parts Of Rural West Virginia

Looking into the current session, FirstEnergy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) shares are trading at $42.27, after a 0.14% drop. Over the past month, the stock decreased by 4.52%, but over the past year, it actually increased by 17.42%. With questionable short-term performance like this, and great long-term performance, long-term shareholders might want to start looking into the company's price-to-earnings ratio. 

<img src="https://www.benzinga.com/files/images/story/2024/1728655216_0_0.png" alt="Past Year Chart" />

<h3>Comparing FirstEnergy P/E Against Its Peers</h3>
The P/E ratio is used by long-term shareholders to assess the company's market performance against aggregate market data, historical earnings, and the industry at large. A lower P/E could indicate that shareholders do not expect the stock to perform better in the future or it could mean that the company is undervalued. 
FirstEnergy has a better P/E ratio of 27.13 than the aggregate P/E ratio of 18.77 of the Electric Utilities industry. Ideally, one might believe that FirstEnergy Inc. might perform better in the future than it's industry group, but it's probable that the stock is overvalued. 

<img src="https://www.benzinga.com/files/images/story/2024/1728655217_1.png" alt="Guage" />

In conclusion, the price-to-earnings ratio is a useful metric for analyzing a company's market performance, but it has its limitations. While a lower P/E can indicate that a company is undervalued, it can also suggest that shareholders do not expect future growth. Additionally, the P/E ratio should not be used in isolation, as other factors such as industry trends and business cycles can also impact a company's stock price. Therefore, investors should use the P/E ratio in conjunction with other financial metrics and qualitative analysis to make informed investment decisions.

P/E Ratio Insights for FirstEnergy

Barclays analyst Eric Beaumont maintains FirstEnergy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FE#NYSE">FE</a>) with a Equal-Weight and raises the price target from $40 to $46.

Barclays Maintains Equal-Weight on FirstEnergy, Raises Price Target to $46

<ul>
<li>Companies jointly propose electric transmission projects to serve region's growing power demand through&nbsp;PJM's competitive planning process</li>
<li>Collaboration leverages expertise of industry leaders to propose comprehensive, cost-effective solutions that promote regional grid reliability</li>
</ul>
RICHMOND, Va., Oct. 7, 2024 /PRNewswire/ -- Dominion Energy Virginia, American Electric Power and FirstEnergy Corp. have entered into an innovative joint planning agreement to propose several new regional electric transmission projects across multiple states within the PJM footprint.&nbsp;
The innovative collaboration comes at a time when efficient and cost-effective regional transmission development is essential and encouraged by the Federal Energy Regulatory Commission (FERC), the independent federal agency that regulates the interstate transmission of electricity.
Power demand in the PJM region is growing at an unprecedented pace due to rapid expansion of energy-intensive industries such as data centers, the electrification of transportation and heating, and increased manufacturing onshoring. At the same time, the region's power generation mix is changing as legacy generation is retired and more renewables are added to the grid.

Dominion Energy, American Electric Power, FirstEnergy Reach Joint Planning Agreement To Propose Regional Transmission Projects Across PJM Footprint To Propose Comprehensive, Cost-Effective Solutions That Promote Regional Grid Reliability

'Risk-On' Investor Attitude Could Drag U.S. Utility Stock Performance In 2025

Notable analyst calls this week: AMD, Adobe and Utilities stocks among top picks

NorthWestern Energy: Financially Strong Utility Appears Fairly Valued At Best

FirstEnergy declares $0.425 dividend

FirstEnergy (FE) announced that President and CEO Brian X. Tierney has been unanimously elected by the Board of Directors to the additional role of...

FirstEnergy names Brian Tierney as Chair of the Board

FirstEnergy ( ($FE) ) has shared an announcement. FirstEnergy Corp. announced that its Board of Directors has appointed Brian X. Tierney, the curre...

FirstEnergy Names Brian X. Tierney as Board Chair

FirstEnergy (FE) Pennsylvania, a subsidiary of FirstEnergy Corp. doing business as Met-Ed, Penn Power, Penelec and West Penn Power, has received ap...

FirstEnergy PA receives approval for infrastructure improvement plans

As the utility market experiences rapid growth, fueled by rising energy demand and technological advancements, fundamentally solid utility stocks such as ONEOK (OKE), FirstEnergy (FE), and UGI Corporation (UGI) are capturing investor interest for consistent income. Read further... The utility market is experiencing significant growth, driven by the increasing demand for energy efficiency, the adoption of smart grid technologies, and advancements in predictive maintenance.
This expansion presents opportunities for top utility stocks ONEOK, Inc. (<a href="https://stocknews.com/stock/OKE/">OKE</a>), FirstEnergy Corp. (<a href="https://stocknews.com/stock/FE/">FE</a>), and UGI Corporation (<a href="https://stocknews.com/stock/UGI/">UGI</a>). These companies also offer attractive dividends.
Emerging winter season and trends like the increasing use of smart water meters, advanced metering infrastructure (AMI), and AI integration are boosting the utility industry. Additionally, the rising demand for sustainability and regulatory compliance is driving the adoption of analytics solutions that support green energy and efficient resource management. The global utility and energy analytics are valued at <a href="https://www.imarcgroup.com/utility-energy-analytics-market">$3.40 billion in 2023</a> and are projected to grow to $13.40 billion by 2032, at a CAGR of 15.9%.
As utilities continue to adopt data-driven approaches, the sector is set for further growth, improving efficiency, reliability, and sustainability in the energy landscape.
Considering these positive trends, let's delve deeper into <a href="https://stocknews.com/category/utilities-domestic/">Utilities – Domestic</a> stocks:
Stock #3: ONEOK, Inc. (<a href="https://stocknews.com/stock/OKE/">OKE</a>)
OKE offers natural gas, natural gas liquids (NGLs), refined petroleum products, and related midstream services, including transportation, storage, and marketing. Its products and services cater to exploration and production companies, utilities, industrial firms, distributors, and exporters.
It pays an annual dividend of $ 3.96, which translates to a dividend yield of 4.06% at the prevailing price levels. Its four-year average dividend yield is 5.93%. The company has grown its dividend payment at a <a href="https://www.investopedia.com/terms/c/cagr.asp">CAGR</a> of 2.3% over the past five years.
On December 4, OKE successfully completed MB-6, a 125,000-barrel-per-day natural gas liquids (NGL) fractionator in Mont Belvieu, Texas. The company also announced the full looping of its West Texas NGL Pipeline system, enhancing capacity and efficiency in its operations.
On November 24, OKE and EnLink Midstream, LLC (<a href="https://stocknews.com/stock/ENLC/">ENLC</a>) entered into a definitive merger agreement. Under the terms, OKE will acquire all outstanding publicly held common units of ENLC in an all-stock transaction valued at $4.30 billion.
In the fiscal third quarter that ended September 30, 2024, OKE's total revenues increased 19.9% year-over-year to $5.02 billion. Its operating income grew 52.6% from the year-ago value to $1.13 billion. In addition, the company's net income available to common shareholders and earnings per common share came in at $ 692 million and $1.18, up 52.8% and 19.2% over the prior-year quarter, respectively.
Street expects OKE's revenue and EPS for the fourth quarter ending December 31, 2024, to increase 30.5% and 29.8% year-over-year to $6.83 million and $1.53, respectively.
Over the past year, the stock has gained 41.3% to close the last trading session at $97.66. It soared 39.1% year-to-date.
OKE's <a href="https://stocknews.com/powr-ratings/">POWR Ratings</a> reflect its robust outlook. The POWR Ratings are calculated by considering 118 distinct factors, with each factor weighted to an optimal degree.
OKE has an A grade for Momentum and a B in Growth. It is ranked #12 out of 57 stocks in the <a href="https://stocknews.com/category/utilities-domestic/">Utilities – Domestic</a> industry.
Beyond what we have stated above, we also have given OKE grades for Value, Stability, Sentiment, and Quality. Get all the OKE's ratings <a href="https://stocknews.com/stock/OKE/">here</a>.
Stock #2: UGI Corporation (<a href="https://stocknews.com/stock/UGI/">UGI</a>)
UGI delivers propane, LPG, natural gas, liquid fuels, and electricity, serving residential, commercial, industrial, agricultural, and wholesale customers. It also provides energy storage, transportation, and infrastructure services in the U.S. and globally.
It pays an annual dividend of $1.50, which translates to a dividend yield of 5.61% at the prevailing price levels, higher than the four-year average dividend yield of 4.53%. The company has grown its dividend payment at a CAGR of 4.4% over the past five years.
In the fiscal year ended September 30, 2024, UGI's revenues were $7.21 billion. Its operating income was $770 million, compared to a loss of $1.44 billion in the prior year. While its net income attributable to UGI Corporation stood at $269 million, compared to a loss of $1.50 billion in the prior year. Its adjusted diluted EPS came in at $3.06, up 7.7% over the prior-year.
Street expects UGI's revenue for the fiscal year (ending September 30, 2025) to increase 28.5% year-over-year to $ 9.27 billion. Its EPS for the same year is $2.91. In addition, it surpassed the consensus EPS estimates in three of the trailing four quarters.
Shares of UGI have gained 16.1% over the past year and is up 10.2% year-to-date to close the last trading session at $ 27.11.
UGI's POWR Ratings reflect its robust outlook. UGI has a B grade in Growth and Quality. It is ranked #9 in the same industry.
To access UGI's Value, Momentum, Stability, and Sentiment ratings, click <a href="https://stocknews.com/stock/UGI/">here</a>.
Stock #1: FirstEnergy Corp. (<a href="https://stocknews.com/stock/FE/">FE</a>)
FE generates, transmits, and distributes electricity through coal, nuclear, hydroelectric, wind, and solar facilities. Serving around 6 million customers across six U.S. states, it operates extensive transmission and distribution networks.
On December 18, FE declared a quarterly dividend of $0.425 per share on its common stock. The dividend will be payable on March 1, 2025. It pays an annual dividend of $ 1.70, which translates to a dividend yield of 4.34% at the prevailing price levels.
Its four-year average dividend yield is 4.10. The company has grown its dividend payment at a CAGR of 2.1% over the past five years.
On December 5, Jersey Central Power &amp; Light (JCP&amp;L), an FE subsidiary, announced that it had began infrastructure upgrades in three Morris County, NJ communities as part of its New Jersey Reliability Improvement Project. These upgrades are aimed at enhancing electric reliability and are expected to conclude by October 2025.
FE's total revenues increased 5.7% year-over-year to $ 3.70 billion in the fiscal third quarter that ended on September 30, 2024. In addition, the company's earnings from continuing operations $ 419 million and non-GAAP operating EPS were $0.85.
Street expects FE's revenue for the fiscal fourth quarter (ending December 31, 2024) to increase 17.2% year-over-year to $3.69 billion. Its EPS for the same quarter is expected to grow 11.6% from the prior year to $0.69. In addition, it surpassed the consensus EPS estimates in three of the trailing four quarters.
Shares of FE have gained 6.1% over the past year and is up 6.8% year-to-date to close the last trading session at $39.16.
FE's POWR Ratings reflect its robust outlook.
It has a B grade in Growth, Momentum, and Stability. It is ranked #4 in the same industry.
Click <a href="https://stocknews.com/stock/FE/">here</a> to see FE's ratings for Value, Sentiment, and Quality.
What To Do Next?
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<hr />
OKE shares were unchanged in premarket trading Friday. Year-to-date, OKE has gained 46.00%, versus a 24.47% rise in the benchmark S&amp;P 500 index during the same period.
<hr><div style="clear:both;"></div> <h2>About the Author: Kritika Sarmah</h2> <img src='https:/wp-content/uploads/2022/08/Kritika-Sarmah_Image-3.jpg' style="float:left; padding:5px;width:125px;">Her interest in risky instruments and passion for writing made Kritika an analyst and financial journalist. She earned her bachelor's degree in commerce and is currently pursuing the CFA program. With her fundamental approach, she aims to help investors identify untapped investment opportunities.<a href="https://stocknews.com/authors/?author=kritika-sarmah">More...</a>The post <a href=https://stocknews.com/news/oke-fe-ugiv-3-high-dividend-utility-stocks-for-reliable-income/>3 High-Dividend Utility Stocks for Reliable Income</a> appeared first on <a href=https://stocknews.com/>StockNews.com</a>

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