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 operates 24,035 circuit miles of overhead and underground transmission lines; and electric distribution systems, including 272,531 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 155,920,348 kilovolt-amperes. The company serves approximately 6 million customers in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. FirstEnergy Corp. was incorporated in 1996 and is headquartered in Akron, Ohio.
IPO Year:
Exchange: NYSE
Website: firstenergycorp.com
Date | Price Target | Rating | Analyst |
---|---|---|---|
4/10/2024 | $45.00 | Buy | Goldman |
8/23/2023 | $37.00 | Equal Weight | Barclays |
8/7/2023 | $45.00 → $40.00 | Buy → Neutral | UBS |
1/23/2023 | $34.00 → $46.00 | Neutral → Buy | Guggenheim |
1/23/2023 | $41.00 → $38.00 | Neutral → Underperform | BofA Securities |
5/16/2022 | $52.00 → $44.00 | Buy → Neutral | BofA Securities |
4/26/2022 | $51.00 | Outperform | Credit Suisse |
1/18/2022 | $42.00 → $45.00 | Buy | B of A Securities |
1/13/2022 | $43.00 → $44.00 | Overweight | Keybanc |
1/7/2022 | $40.00 → $46.00 | In-line → Outperform | Evercore ISI |
AKRON, Ohio, Aug. 13, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) today announced that it has reached an agreement, effective Aug. 12, 2024, with the Office of the Ohio Attorney General and the Office of the Summit County Prosecutor to resolve all outstanding proceedings between the parties. "We are pleased to have reached a resolution with the Ohio Attorney General's Office and the Office of the Summit County Prosecutor, which recognizes the substantial actions FirstEnergy has taken to establish a highly effective compliance program and instill a culture of ethics and in
Reports second quarter 2024 GAAP earnings of $0.08 per share and operating (non-GAAP) earnings of $0.56 per share, above the midpoint of guidance and a 19% increase compared to the second quarter of 2023 Affirms targeted 6-8% long-term annual operating earnings per share growth and full-year 2024 operating (non-GAAP) earnings guidance of $2.61 to $2.81 per share Received and deployed final $1.2 billion in proceeds from $3.5 billion FET LLC transaction, strengthening balance sheet and fueling Energize365 investment plan Results include progress in settling legacy issues with the Securities and Exchange Commission (SEC) and the Office of the Ohio Attorney General AKRON, Ohio, July 30, 2024 /PR
AKRON, Ohio, July 24, 2024 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE:FE) today declared a quarterly dividend of $0.425 per share of outstanding common stock payable September 1, 2024, to shareholders of record at the close of business on August 7, 2024. FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The
Deploys final $1.2 billion in proceeds to further strengthen balance sheet, supporting sustainable, long-term growth through industry-leading Energize365 grid investment program AKRON, Ohio, July 17, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) announced today that it received the remaining $1.2 billion in proceeds from the $3.5 billion sale of a 30% ownership interest in its FirstEnergy Transmission, LLC (FET) subsidiary to Brookfield Super-Core Infrastructure Partners (Brookfield). FirstEnergy received the initial proceeds of $2.3 billion from Brookfield when the transaction closed in March. The remaining $1.2 billion in interest-bearing notes were extinguished with Brookfield's final
AKRON, Ohio, July 1, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) will release financial results for the second quarter and first half of 2024 after markets close on Tuesday, July 30. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Wednesday, July 31. A question-and-answer session will follow. Investors, customers and other interested parties are invited to listen to a live webcast of the call and view presentation slides via FirstEnergy's Investor Information website, www.firstenergycorp.com/i
Reports first quarter 2024 GAAP earnings of $0.44 per share and operating (non-GAAP) earnings of $0.55 per share, above the midpoint of guidance Affirms targeted 6-8% long-term annual operating earnings per share growth Increased total equity on balance sheet by 25% with closing on $3.5 billion FET LLC transaction; deployed $2.3 billion of proceeds; expects to receive remaining $1.2 billion later this year AKRON, Ohio, April 25, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) today reported first quarter 2024 GAAP earnings of $253 million, or $0.44 per basic and diluted share, on revenue of $3.3 billion. This compares to first quarter 2023 GAAP earnings of $292 million, or $0.51 per basic a
AKRON, Ohio, April 3, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) will release financial results for the first quarter of 2024 after markets close on Thursday, April 25. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 10 a.m. EDT on Friday, April 26. A question-and-answer session will follow. Investors, customers and other interested parties are invited to listen to a live webcast of the call and view presentation slides via FirstEnergy's Investor Information website, www.firstenergycorp.com/ir. The webcast
Company Continues Efforts to Keep Costs Manageable for Customers READING, Pa., April 2, 2024 /PRNewswire/ -- FirstEnergy Pennsylvania (FE PA), a subsidiary of FirstEnergy Corp. (NYSE:FE) doing business as Met-Ed, Penn Power, Penelec and West Penn Power, will request today a review of its base electric rates by the Pennsylvania Public Utility Commission (PUC). The proposed rate adjustment builds on service reliability enhancements made in recent years by upgrading additional distribution grid equipment, providing ongoing tree trimming with a focus on off-right-of-way trees and creating a dedicated team to help low-income residential customers participate in bill assistance programs.
Follow-on investment by Brookfield Super-Core Infrastructure Partners strengthens FirstEnergy's balance sheet, supports sustainable, long-term growth through industry-leading Energize365 grid investment program AKRON, Ohio, March 25, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) announced today it has completed the previously disclosed sale of an additional 30% ownership interest in its FirstEnergy Transmission, LLC (FET) subsidiary to Brookfield Super-Core Infrastructure Partners (Brookfield) for $3.5 billion. FirstEnergy received $2.3 billion of cash proceeds at closing,
Represents annual rate of $1.70 per share, pending continued Board approvalAn increase of more than 6% compared to dividends declared in 2023 AKRON, Ohio, March 20, 2024 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (NYSE:FE) today declared a quarterly dividend of $0.425 per share of outstanding common stock payable June 1, 2024, to shareholders of record at the close of business on May 7, 2024. Subject to continued Board approval, FirstEnergy expects to declare dividends totaling $1.70 per share in 2024, an increase of more than 6% compared to $1.60* per share d
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New Met-Ed equipment to enhance electric service reliability for more than 7,000 customers READING, Pa., Sept. 5, 2024 /PRNewswire/ -- FirstEnergy Pennsylvania Electric Company (FE PA), a FirstEnergy Corp. (NYSE:FE) subsidiary doing business as Met-Ed in southeastern Pennsylvania, recently energized a new transformer at its substation near Third and Willow streets in Lebanon to enhance electric service reliability for more than 7,000 customers in the city, North Lebanon Township and West Lebanon Township. The substation's previous transformer experienced a failure in early Ju
JCP&L upgrades in Monmouth and Morris counties are part of a larger $95 million project HOLMDEL, N.J., Sept. 3, 2024 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE:FE), is investing in its customers by upgrading two power lines in Morris and Monmouth counties. The upgrades are scheduled to be completed in November as part of JCP&L's New Jersey Reliability Improvement Project, an element of the company's rate review settlement approved by the New Jersey Board of Public Utilities in February. Doug Mokoid, FirstEnergy's President, Ne
Project to reduce outages for 1,800 Potomac Edison customers in West Virginia and Maryland WILLIAMSPORT, Md., Aug. 22, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) subsidiary Potomac Edison has started construction on a new substation in Morgan County, West Virginia, that is expected to enhance reliability for 1,800 area customers. Fed by a more reliable power line, the facility will feature new technology and equipment that will also help reduce the number and duration of outages. Located in Great Cacapon, the new substation will replace an existing substation nearby tha
New substation equipment to benefit more than 13,000 Mon Power customers in six counties FAIRMONT, W.Va., Aug. 21, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) electric company Mon Power is replacing and upgrading equipment at eight transmission substations in its West Virginia service territory to help prevent or minimize the impact of power outages for more than 13,000 customers who are served by high-voltage power lines connected to the substations. The work involves replacing existing substation equipment with new communication equipment, including electrical relays co
CRA International, Inc. (NASDAQ:CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that an auction process will be conducted for FirstEnergy Corp.'s (NYSE:FE) Ohio subsidiaries – Ohio Edison, The Illuminating Company and Toledo Edison – to procure full requirements service for their Standard Service Offer customers. The auction process will lead up to the auction scheduled for October 1, 2024.* The bidding process will use a descending-price clock auction format. The auction will be managed by the Auction Manager, CRA International, Inc. and will be conducted pursuant to approval from the Public Utilities Commission of Ohio (PUC
Teams with the Electric Power Research Institute to help protect bats HOLMDEL, N.J., Aug. 16, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) electric company Jersey Central Power & Light (JCP&L) has installed 64 artificial, free-standing bat roosts along two transmission rights-of-way that run through Warren, Morris and Union counties as part of the company's ongoing efforts to protect endangered species near electrical infrastructure. This work is part of a collaborative research study with the Electric Power Research Institute (EPRI) aimed at preserving the Indiana, northe
AKRON, Ohio, Aug. 13, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) today announced that it has reached an agreement, effective Aug. 12, 2024, with the Office of the Ohio Attorney General and the Office of the Summit County Prosecutor to resolve all outstanding proceedings between the parties. "We are pleased to have reached a resolution with the Ohio Attorney General's Office and the Office of the Summit County Prosecutor, which recognizes the substantial actions FirstEnergy has taken to establish a highly effective compliance program and instill a culture of ethics and in
AKRON, Ohio, Aug. 11, 2024 /PRNewswire/ -- Thanks to around-the-clock hard work by more than 7,500 storm responders, FirstEnergy announced that nearly all customers will have power restored much sooner than the original global estimate of Wednesday, Aug. 14. To date, power has been restored to nearly 90% of Illuminating Company customers, with less than 35,000 remaining without service. Listed below are the Estimated Times of Restoration (ETRs) by community in impacted counties. Customers with outages in communities that are not listed can view their current individual ETR by
AKRON, Ohio, Aug. 10, 2024 /PRNewswire/ -- Thousands of workers from FirstEnergy (NYSE:FE), along with outside support from 17 states, continue working around the clock restoring power to customers across Greater Cleveland following historic storms on Aug. 6. Each day, service is being restored to large numbers of customers. In addition, significant progress removing trees and other debris is paving the way for the intricate work required to restore service in the hardest hit areas. More than 627,700 customers across FirstEnergy's footprint in Ohio, Pennsylvania, West Virginia
Mon Power will hold demonstrations on how to stay safe around electrical equipment FAIRMONT, W.Va., Aug. 9, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) electric company Mon Power is bringing its live wire electrical safety trailer to the upcoming State Fair of West Virginia in Lewisburg, where it will use the trailer's 7,200-kilovolt power lines to offer highly visual demonstrations on the power of electricity, how to recognize dangerous conditions and, most important, how to stay safe around power lines and electrical equipment. The trailer and an information booth will
Deploys final $1.2 billion in proceeds to further strengthen balance sheet, supporting sustainable, long-term growth through industry-leading Energize365 grid investment program AKRON, Ohio, July 17, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) announced today that it received the remaining $1.2 billion in proceeds from the $3.5 billion sale of a 30% ownership interest in its FirstEnergy Transmission, LLC (FET) subsidiary to Brookfield Super-Core Infrastructure Partners (Brookfield). FirstEnergy received the initial proceeds of $2.3 billion from Brookfield when the transaction closed in March. The remaining $1.2 billion in interest-bearing notes were extinguished with Brookfield's final
Barclays analyst Eric Beaumont maintains FirstEnergy (NYSE:FE) with a Equal-Weight and raises the price target from $39 to $40.
Morgan Stanley analyst Stephen Byrd maintains FirstEnergy (NYSE:FE) with a Overweight and lowers the price target from $46 to $44.
FirstEnergy's (NYSE:FE) short percent of float has fallen 6.71% since its last report. The company recently reported that it has 11.68 million shares sold short, which is 2.64% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.95 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling 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
Mizuho analyst Anthony Crowdell maintains FirstEnergy (NYSE:FE) with a Neutral and raises the price target from $38 to $41.
Morgan Stanley analyst Stephen Byrd maintains FirstEnergy (NYSE:FE) with a Overweight and raises the price target from $42 to $46.
As of May 16, 2024, five stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro. Here's the latest list of major overbought players in this sector. FirstEnergy Corp. (NYSE:FE) On April 25, FirstEnergy posted better-than-expected quarterly sal
FirstEnergy's (NYSE:FE) short percent of float has risen 3.79% since its last report. The company recently reported that it has 12.11 million shares sold short, which is 2.74% of all regular shares that are available for trading. Based on its trading volume, it would take traders 4.23 days to cover their short positions on average. Why Short Interest Matters Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Short selling 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
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CRA International, Inc. (NASDAQ:CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that an auction process will be conducted for FirstEnergy Corp.'s (NYSE:FE) Ohio subsidiaries – Ohio Edison, The Illuminating Company and Toledo Edison – to procure full requirements service for their Standard Service Offer customers. The auction process will lead up to the auction scheduled for October 1, 2024.* The bidding process will use a descending-price clock auction format. The auction will be managed by the Auction Manager, CRA International, Inc. and will be conducted pursuant to approval from the Public Utilities Commission of Ohio (PUC
President and CEO Brian X. Tierney highlights company's progress and strong position in shareholder address; Company announces preliminary voting results AKRON, Ohio, May 22, 2024 /PRNewswire/ -- Speaking at the company's 2024 Annual Meeting of Shareholders, FirstEnergy Corp. (NYSE:FE) President and Chief Executive Officer Brian X. Tierney said FirstEnergy has become a stronger and more resilient company with a foundation of integrity and a very bright future. "We have a strong foundation, clear focus and robust strategy to deliver long-term value to our shareholders, custome
Business unit leaders with expanded executive responsibilities to support better execution and customer investments at the local level Jim Fakult, President, New Jersey Operations, to retire after 37 years of service AKRON, Ohio, May 21, 2024 /PRNewswire/ -- To help drive its transformation to a premier electric company, FirstEnergy Corp. (NYSE:FE) today announced the appointment of four new executives to oversee the company's Ohio, Pennsylvania and New Jersey state electric company businesses and its stand-alone transmission companies: John Hawkins – President, Pennsylvania,
CRA International, Inc. (NASDAQ:CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that an auction process will be conducted for FirstEnergy Corp.'s (NYSE:FE) Ohio subsidiaries – Ohio Edison, The Illuminating Company, and Toledo Edison – to procure full requirements service for their Standard Service Offer customers. The auction process will lead up to the auction scheduled for March 19, 2024. The bidding process will use a descending-price clock auction format. The auction will be managed by the Auction Manager, CRA International, Inc. The auction is being conducted pursuant to approval from the Public Utilities Commission of O
Wade Smith Joins Company as President, FirstEnergy Utilities; Toby L. Thomas Joins as Chief Operating Officer AKRON, Ohio, Nov. 21, 2023 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) today announced that Wade Smith has been named president, FirstEnergy Utilities, and Toby L. Thomas has been named chief operating officer of FirstEnergy, effective Dec. 18 and Nov. 30, respectively. The addition of these two senior executives is an important step in driving forward the company's transformation into a premier electric utility. Both leaders will report directly to President and Chief Executive Officer Brian X. Tierney.
CRA International, Inc. (NASDAQ:CRAI), a worldwide leader in providing economic, financial, and management consulting services, today announced that an auction process will be conducted for FirstEnergy Corp.'s (NYSE:FE) Pennsylvania utilities — Metropolitan Edison Company ("Met-Ed"), Pennsylvania Electric Company ("Penelec"), Pennsylvania Power Company ("Penn Power") and West Penn Power Company ("West Penn Power") — to procure full requirements Default Supply generation service for their Default Service Customers. The auction process will lead up to the auction scheduled for November 6, 2023. The bidding process will use a descending-price clock auction format. The auction will be managed
Board Chair, Interim President and CEO John W. Somerhalder addresses shareholders Company announces preliminary voting results Brian X. Tierney appointed to Board of Directors AKRON, Ohio, May 24, 2023 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) Board Chair, Interim President and Chief Executive Officer John W. Somerhalder told shareholders today that FirstEnergy is making progress on its plans to drive long-term success and create sustainable value for all of its stakeholders. Speaking at the company's 2023 Annual Meeting of Shareholders, he said this is an exciting moment in the company's history.
President and Chief Executive Officer Steven E. Strah to Retire John W. Somerhalder Appointed Interim President and Chief Executive Officer Board to Initiate Search for Permanent Successor AKRON, Ohio, Sept. 15, 2022 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) today announced that John W. Somerhalder II, chair of the FirstEnergy Board of Directors, has been named interim president and chief executive officer (CEO), effective September 16, 2022. Mr. Somerhalder's appointment follows Steven E. Strah's decision to retire as president and CEO of FirstEnergy and as a member of the Board of Directors.
President and CEO Steven E. Strah addresses shareholders John W. Somerhalder elected Board chair Lisa Winston Hicks elected lead independent director AKRON, Ohio, May 17, 2022 /PRNewswire/ -- FirstEnergy Corp. (NYSE:FE) President and Chief Executive Officer Steven E. Strah told shareholders today that FirstEnergy is embracing transformation and innovation to reimagine the company and reshape it into a more forward-thinking, premier utility. Speaking at the company's 2022 Annual Meeting of Shareholders, Strah said FirstEnergy has maintained strong operational and financial per
ICP Group ("ICP" or the "Company"), a leading formulator and manufacturer of specialty coatings, adhesives, and sealants serving the construction and industrial end markets, is pleased to announce the appointment of Chris Pappas to its Board of Directors. Mr. Pappas brings extensive executive and board experience with private and publicly traded companies in the specialty chemicals, coatings, adhesives, and sealants markets. Mr. Pappas will help provide guidance to ICP's growth strategy and continued evolution into one of the largest coatings and adhesives platforms in the industry. Most recently, Mr. Pappas was as a special advisor and board member at Trinseo S.A., a plastics, latex and r
Goldman initiated coverage of FirstEnergy with a rating of Buy and set a new price target of $45.00
Barclays initiated coverage of FirstEnergy with a rating of Equal Weight and set a new price target of $37.00
UBS downgraded FirstEnergy from Buy to Neutral and set a new price target of $40.00 from $45.00 previously
Guggenheim upgraded FirstEnergy from Neutral to Buy and set a new price target of $46.00 from $34.00 previously
BofA Securities downgraded FirstEnergy from Neutral to Underperform and set a new price target of $38.00 from $41.00 previously
BofA Securities downgraded FirstEnergy from Buy to Neutral and set a new price target of $44.00 from $52.00 previously
Credit Suisse initiated coverage of FirstEnergy with a rating of Outperform and set a new price target of $51.00
B of A Securities reiterated coverage of FirstEnergy with a rating of Buy and set a new price target of $45.00 from $42.00 previously
Keybanc reiterated coverage of FirstEnergy with a rating of Overweight and set a new price target of $44.00 from $43.00 previously
Evercore ISI upgraded FirstEnergy from In-line to Outperform and set a new price target of $46.00 from $40.00 previously