Yep.. It's helping this extremely oversold priced-in for Armageddon poor PPS a little today.. hopefully we'll continue some upward momentum into next year when all the tax selling is abated..
Could it be hedging against the large open interest in ITM puts expiring today and January? There's no action yet to close those positions out.
They are going to increase cash flow with a guarantee of an income stream for the next four years, this should insure the dividend, allow for payment of debt and get the company on the road to better generation solutions.
Absolutely. Let one terrible leader retire and just replace him with anothe terrible leader. SOS!
I'm a FE customer, long term investor, and have been a state government coal markets and energy analyst (geologist), but a major non-energy related field project at my day job has kept me off the grid for the last five years so I'm playing catch-up.
I worked at FE a little bit ago, and I know there was some talk of feeling like the NJ decision was going to be difficult but not impossible to win. Also, previously the regulated business earnings could support the dividend on its own, so them lowering the dividend is not an absolute necessity, but who knows.
Morningstar doesn't expect any substantive changes until a New Jersey PSC decision late in the first quarter or early in the second quarter. The NJ PSC is appointed, which is good for supporting utility rate requests, but does anybody know more about this specific request or the NJ PSCs history with respect to FE and their predecessors?
Last year dividend was announced Dec. 18 so it should be anytime now. The premarket action is probably speculation about the dividend rather knowledge. And the absence of any lowered guidance announcements.
First Energy just announced their earnings report date in February. Usually dividend announcement comes right after that.