|Bid||47.48 x 3000|
|Ask||47.78 x 1100|
|Day's Range||47.26 - 48.15|
|52 Week Range||35.33 - 48.27|
|Beta (3Y Monthly)||0.25|
|PE Ratio (TTM)||102.58|
|Earnings Date||Oct 23, 2019 - Oct 28, 2019|
|Forward Dividend & Yield||1.52 (3.16%)|
|1y Target Est||48.00|
AKRON, Ohio, Sept. 17, 2019 /PRNewswire/ -- The Board of Directors of FirstEnergy Corp. (FE) today declared an unchanged quarterly dividend of 38 cents per share of outstanding common stock. FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York.
Today we'll look at FirstEnergy Corp. (NYSE:FE) and reflect on its potential as an investment. To be precise, we'll...
MORRISTOWN, N.J., Sept. 11, 2019 /PRNewswire/ -- Jersey Central Power and Light (JCP&L) is installing 1,700 new "TripSaver" automated reclosing devices on power lines across its service territory to help limit the frequency and duration of service interruptions. The electrical device works like a circuit breaker in a home with the added benefit of automatically re-energizing a power line within seconds to keep power safely flowing to customers. This work is part of the $97 million JCP&L Reliability Plus Infrastructure Investment Program, with a special focus on addressing tree damage to the distribution system caused by severe weather events and reducing the frequency and duration of power outages.
AKRON, Ohio, Sept. 5, 2019 /PRNewswire/ -- FirstEnergy Corp. (FE) has been named by Site Selection magazine as one of the nation's leading utilities in promoting economic development, helping to attract nearly 11,000 new jobs and $3.9 billion in third-party capital investment in its six-state service area in 2018. The award recognizes utility companies that complement reliable power delivery to their customers with a hands-on approach to encouraging business development in their operational areas.
MORRISTOWN, N.J. , Sept. 4, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) is teaming with local community organizations to hold Energy Assistance Days where customers can sign up for special ...
(Bloomberg Opinion) -- An entity dubbing itself “Ohioans For Energy Security” has a warning for the good people of the Buckeye State:The Chinese government is quietly invading our American electric grid; intertwining themselves financially in our energy infrastructure.Before we get into the details of the one-minute ad in which a suitably ominous voice intones those words over much footage of President Xi Jinping, some context: Ohio recently passed legislation to subsidize struggling nuclear and coal-fired power plants, while also weakening incentives for renewable power and energy efficiency. The law benefits several incumbent power companies, especially FirstEnergy Solutions Corp., the bankrupt merchant-generation arm of utility FirstEnergy Corp. In response, opponents are busy gathering signatures for a petition to put a referendum aimed at scrapping the law on the November 2020 ballot.The ad warns Ohioans about such people approaching them to sign. And while the ad doesn’t go on to say this, I think I am duty-bound to point out that those clipboard carriers will not necessarily be sporting identifying markers like Chinese-flag lapel pins or tee-shirts proclaiming “XI LOVES YOU!”As my Bloomberg News colleague Will Wade reports, Carlo LoParo, a spokesperson for OFES, explained that state-controlled Industrial and Commercial Bank of China Ltd. has loaned money to several natural-gas-fired power projects in Ohio. Therefore, as those plants gain market share, so Beijing could gain undue influence over the state’s power system.Having rejected “compelling,” I’m struggling to find a word that adequately captures the class of logic on display there. Suffice it to say that loans made to power plants by a bank, state-owned or otherwise, do not actually grant that bank or its shareholders ownership of said plants, let alone influence over the grid they supply. Finance and power-market oversight just doesn’t work that way.LoParo runs a local public relations firm and previously worked on behalf of a group funded by FirstEnergy Solutions that promulgated the bailout legislation(1). He says the ad was “produced in a way to get your attention,” and I can only agree with him on that. When asked how exactly a bank loan would translate to undue influence over the grid, things got a little fuzzier, and he said we just don’t know the terms of the financing. Not knowing would seem like a good reason to hold off airing inflammatory insinuations — especially as loans don’t grant equity-like control — but maybe that’s just me. I also asked LoParo how OFES feels about Industrial and Commercial Bank of China’s role as a lender to none other than FirstEnergy itself. An amended agreement from last October attached to the parent company’s last 10-K filing with the Securities and Exchange Commission lists the Chinese bank as part of a 23-strong syndicate providing a $2.5 billion credit line to FirstEnergy and several of its subsidiaries.Here’s the thing: That also doesn’t give ICBC any control of FirstEnergy’s operations in Ohio’s power market. But by the comically tortured logic of the OFES ad, surely having a Chinese bank provide credit to the actual owner of the grid presents a similarly sinister challenge? LoParo actually said he would “prefer” FirstEnergy not to take such funding. (A spokesperson told me the company isn’t associated with OFES and doesn’t plan on changing its lending banks.)Indeed, in response to a broader question, he said he would prefer any public or quasi-public Ohio infrastructure project not to take funding from banks controlled by foreign governments. That sounds like a great way to increase the cost of just about everything for Ohioans. One wonders if OFES plans on also going after the federal government over the small issue of who owns all those U.S. Treasuries. As an abattoir of reason, the ad at least comports with the spirit of this bailout. Consider representative William Seitz, a co-sponsor of the law, who declared years ago that when it comes to renewable energy, Ohio’s legislature wouldn’t continue its “march up state mandate mountain.” But now that the mountain happens to be made of coal and uranium, he has scrabbled up with gusto.In its vilification of sinister outside forces, the ad displays a certain despicable cunning. It recasts local energy supply as being about other, national hot-button issues promulgated by President Donald Trump, who carried the state in 2016. We have seen this already, of course, not least in Energy Secretary Rick Perry’s attempt to force through subsidies for coal and nuclear plants on national-security grounds. The Chinese link, tenuous as it is, stokes fear and attempts to connect the prior decade’s decline in manufacturing employment — not confined to Ohio by any means — to the job losses that result from unprofitable old power plants closing. This use of labor issues is an extension of Trump’s pledge to coal miners and seems likely to be weaponized more and more as our energy system changes. Faced with implacable forces of falling costs for newer technologies and rising concern about climate change, rallying support for struggling incumbents on the basis of protecting jobs can be a potent populist tactic.On this front, there is a grim irony to be found in the fact that FirstEnergy Solutions’ emergence from chapter 11 has been delayed due to a dispute with unions about honoring existing collective bargaining agreements. Just as Trump’s love for coal miners has done little to revive their sector, the Ohio state legislature’s subsidies for struggling older plants represent a losing strategy (except for the asset owners). Plus, like OFES’s seeming preference for financial autarky, such subsidies raise costs for everyone, including manufacturers. If folks are worried about interference in Ohio’s grid, they should forget Beijing and start with Columbus.With assistance from Margaret Newkirk(1) He told Wade he has had no interaction with that group on this campaign.To contact the author of this story: Liam Denning at email@example.comTo contact the editor responsible for this story: Mark Gongloff at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Liam Denning is a Bloomberg Opinion columnist covering energy, mining and commodities. He previously was editor of the Wall Street Journal's Heard on the Street column and wrote for the Financial Times' Lex column. He was also an investment banker.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
Thanks in no small measure to Vanguard founder Jack Bogle, it's easy buy a low cost index fund, which should provide...
MORRISTOWN, N.J. , Aug. 12, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) participated in National Night Out events in 10 communities last week to help support local law enforcement efforts ...
FirstEnergy Solutions Corp. announced Friday that it would be shutting down its coal-powered plant in Beaver County ahead of schedule. The Bruce Mansfield Power Plant will be shut down on Nov. 7 of this year, FirstEnergy said in a press release. The plant, which is located in Shippingport, was originally set to be deactivated on June 1, 2021.
Luminus Management was founded in 2002 by Paul Segal, who was the fund’s Management’s President and Portfolio Manager until 2011, when Jonathan Dan Barrett took over the positions. Jonathan Barrett graduated in Accounting from University of Witwatersrand. He started off working in real estate investment, and later he held a position of Director of Merger […]
Evergy's (EVRG) Q2 earnings are lower than expected due to unfavorable weather. The company reiterates its 2019 earnings per share guidance.
AKRON, Ohio, Aug. 7, 2019 /PRNewswire/ -- FirstEnergy Corp. (FE) has been honored by Crain's Cleveland Business with a 2019 Excellence in Human Resources Award for its workforce diversity and inclusion programs. The award recognizes FirstEnergy's efforts to increase diversity and establish an inclusive environment where all employees feel respected and that their input is valued. FirstEnergy's focus on diversity and inclusion began in 2015 with the establishment of its Executive Diversity & Inclusion Council.
Duke Energy (DUK) posts better-than-expected results in the second quarter of 2019. Both the metrics also increase on a year-over-year basis.
Sempra Energy's (SRE) earnings and revenues miss estimates in second-quarter 2019. However, the top line increases on a year-over-year basis.
Shares of PG&E are jumping after the power producer reached a settlement to cover the majority of the claims from the 2017 and 2018 wildfires in California. Yahoo Finance's Jared Blikre joins Brian Sozzi on 'The Ticker' to discuss.