IMO with FE buying a strong Allegheny Power and FE with a history of raising its dividend and a 5.5 percent yield i think its a buy. It sure beats getting a half percent in the bank.
When was the last time they raised the div? A few years at least. Are they ever going to raise again?
The last increase was in 2008 so we are probably due another increase very soon. http://www.dividend.com/historical/stock.php?symbol=FE
Look back over the years and the dividend has been moving up slowly. Brokers seem to like the Allegheny Power merger.