FE - FirstEnergy Corp.
| Previous Close | 45.13 |
| Open | 45.19 |
| Bid | 44.63 x 2200 |
| Ask | 44.85 x 1200 |
| Day's Range | 44.68 - 45.19 |
| 52 Week Range | 35.33 - 45.28 |
| Volume | 2,965,550 |
| Avg. Volume | 3,799,479 |
| Market Cap | 23.907B |
| Beta (3Y Monthly) | 0.30 |
| PE Ratio (TTM) | 97.25 |
| EPS (TTM) | 0.46 |
| Earnings Date | Oct 23, 2019 - Oct 28, 2019 |
| Forward Dividend & Yield | 1.52 (3.37%) |
| Ex-Dividend Date | 2019-08-06 |
| 1y Target Est | 47.53 |
- GuruFocus.com
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- PR Newswire
Jersey Central Power & Light Supports Annual National Night Out Events in 10 New Jersey Communities
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 ...
- American City Business Journals
FirstEnergy accelerates shutdown of its Beaver County coal plant
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.
- Bloomberg
Coal Unit at Center of Trump Bailout Bid to Shut 19 Months Early
(Bloomberg) -- A Pennsylvania power plant that was at the center of President Donald Trump’s effort to revive the coal industry will be closing 19 months ahead of schedule.FirstEnergy Solutions Corp. plans to shutter the Bruce Mansfield power plant’s Unit 3 in November because of “a lack of economic viability,” according to a statement Friday. The company had earlier said it would close the site in June 2021. Units 1 and 2 were deactivated in February.Bruce Mansfield was the state’s biggest coal-fired power plant but struggled to compete against cheap natural gas flowing out of nearby shale formations. One of its biggest supporters was Robert E. Murray, chief executive officer of Murray Energy Corp. and a major supplier for the complex. He lobbied the Trump administration for policies that would help the facility, and in 2017 the Energy Department proposed a plan to pay coal generators more for stockpiling fuel on-site. The Federal Energy Regulatory Commission rejected the idea in 2018.FirstEnergy Solutions filed for bankruptcy in March 2018, dragged down by its coal and nuclear power plants. It’s a unit of FirstEnergy Corp. The company said the deactivation process at Bruce Mansfield will be complete by May.FirstEnergy Solutions had said that it would close two nuclear plants in Ohio, and the state last month approved a plan to offer financial assistance that would let the company keep them open.To contact the reporter on this story: Will Wade in New York at wwade4@bloomberg.netTo contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Reg Gale, Joe CarrollFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- Insider Monkey
Luminus Management’s Top Stock Picks
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 […]
- Zacks
Evergy's (EVRG) Q2 Earnings and Revenues Miss Estimates
Evergy's (EVRG) Q2 earnings are lower than expected due to unfavorable weather. The company reiterates its 2019 earnings per share guidance.
- Thomson Reuters StreetEvents
Edited Transcript of FE earnings conference call or presentation 24-Jul-19 2:00pm GMT
Q2 2019 FirstEnergy Corp Earnings Call
- PR Newswire
FirstEnergy's Diversity and Inclusion Programs Honored by Crain's Cleveland Business
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.
- Zacks
CenterPoint Energy (CNP) Q2 Earnings Beat, Revenues Up Y/Y
CenterPoint Energy's (CNP) second-quarter 2019 revenues and adjusted earnings increase on a year-over-year basis.
- Zacks
Duke Energy (DUK) Q2 Earnings Top Estimates, Revenues Up Y/Y
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.
- Zacks
Sempra Energy (SRE) Q2 Earnings Miss, Revenues Improve Y/Y
Sempra Energy's (SRE) earnings and revenues miss estimates in second-quarter 2019. However, the top line increases on a year-over-year basis.
- Zacks
Eversource (ES) Q2 Earnings Top Estimates, Revenues Miss
Eversource Energy (ES) beats Q2 earnings estimates by a penny and keeps its 2019 earnings guidance unchanged.
- Zacks
Dominion's (D) Q2 Earnings Beat Estimates, Revenues Miss
Dominion Energy's (D) Q2 earnings beat estimates on the back of strong contribution from the Southeast Energy business.
- PR Newswire
JCP&L Names Ronald Crocker as External Affairs Consultant
MORRISTOWN, N.J. , July 30, 2019 /PRNewswire/ -- Jersey Central Power & Light (JCP&L) has named Ronald Crocker external affairs consultant. Crocker will work out of JCP&L's Berkeley office, serving as ...
- PR Newswire
Incentives Available for FirstEnergy Customers to Purchase Nissan Electric Vehicles
AKRON, Ohio , July 29, 2019 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) utility customers are eligible for rebates off the price of a 2019 Nissan LEAF or a 2019 LEAF Plus electric vehicle simply by showing ...
- Zacks
Edison International's (EIX) Q2 Earnings Beat, Revenues Miss
Edison International (EIX) reports mixed second-quarter 2019 results, wherein earnings beat the Zacks Consensus Estimate but revenues missed the same.
- Simply Wall St.
Is FirstEnergy Corp.'s (NYSE:FE) CEO Salary Justified?
Chuck Jones became the CEO of FirstEnergy Corp. (NYSE:FE) in 2015. This report will, first, examine the CEO...
- Bloomberg
Trump’s Trade Wars Have U.S. Exporters Cutting Power Demand
(Bloomberg) -- President Donald Trump’s trade wars are not only affecting companies that produce America’s exports, but are also cutting into the profits of the utilities that power them.Earnings at American Electric Power Co., which provides electricity in 11 states, slumped 13% in the second quarter. Chief Executive Officer Nick Akins said the “biggest economic headwind” was the Trump administration’s trade policies. Shares were down 0.7% at $88.98 at 1:38 p.m. New York time.AEP isn’t the only utility to note a sales slump for its industrial customers. FirstEnergy Corp., which owns utilities in Ohio and Pennsylvania, said Wednesday that demand in that sector dropped 1.7% due to lower use from steel and automotive makers. The company didn’t identify trade barriers as a reason for the drop, but said the closing of an auto plant in its service territory was a factor.The trade disputes have “impacted export manufacturers in our service territory,” AEP’s Akins said on a conference call Thursday.His comments come as U.S. exports are down the most in three years, thanks to a broad decline in international demand for American products. Trump’s trade policies have spurred tit-for-tat tariffs, thrown global markets into turmoil and made it harder for manufacturers to make long-term planning decisions.AEP said sales to industrial customers fell 2.7% in the second quarter from a year earlier, a bigger decline than it reported for residential and commercial customers.“Sales to the industrial class have been slowing in recent quarters as the impact of the strong dollar and more restrictive trade policy have challenged export manufacturers,” AEP Chief Financial Officer Brian Tierney said on the call.(Updates with industrial sales results from FirstEnergy in third paragraph.)\--With assistance from Mark Chediak.To contact the reporter on this story: Will Wade in New York at wwade4@bloomberg.netTo contact the editors responsible for this story: Lynn Doan at ldoan6@bloomberg.net, Pratish NarayananFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- PR Newswire
JCP&L Thunderstorm Restoration Update
AKRON, Ohio , July 25, 2019 /PRNewswire/ -- More than 3,500 line workers and support personnel continue to work around the clock restoring electric service to Jersey Central Power & Light (JCP&L) customers ...
- Yahoo Finance
FirstEnergy in talks to retire Three Mile Island to 'get out of the nuclear business'
FirstEnergy is working on a deal that will see Pennsylvania’s infamous Three Mile Island dismantled and sold.
Motley FoolFirstEnergy Corp (FE) Q2 2019 Earnings Call Transcript
FE earnings call for the period ending June 30, 2019.
- PR Newswire
JCP&L Line Crews and Other Personnel Continue to Restore Service Following Damaging Wind and Severe Thunderstorms
MORRISTOWN, N.J., July 24, 2019 /PRNewswire/ -- More than 3,500 line workers and support personnel are in New Jersey working around the clock restoring electric service to Jersey Central Power & Light (JCP&L) customers who lost power following damaging thunderstorms Monday that produced wind gusts exceeding 70 mph and torrential rains. About 220,000 JCP&L customers were restored within 36 hours after the storm began. JCP&L expects the majority of these customers to be restored by Friday evening, with many customers restored much sooner.
- Bloomberg
Ohio's Nuke and Coal Bailout: Throwback Mountain
(Bloomberg Opinion) -- Representative William Seitz declared several years ago the Ohio State Legislature was not prepared to continue its “march up state mandate mountain.” He was voicing opposition to renewable and energy efficiency standards he had described as Stalinist, which, even with the healing power of time, comes across as a tad overwrought.Guess what, though: It turns out Seitz isn’t against mandate mountains altogether. It’s just a question of which mountain he chooses to climb.Seitz co-sponsored House Bill 6, which passed Ohio’s august body and was swiftly signed by Governor Mike DeWine on Tuesday. Among other things, the bill will provide subsidies to nuclear power plants and two old coal-fired plants while weakening the state’s alternative-energy portfolio standard and energy-efficiency benchmarks. In short, it delivers substantial blows to the Stalinist scourge of encouraging wind and solar power and more efficient use of electricity in general, while providing a handout to struggling conventional generators.And struggling they are. The Davis-Basse and Perry nuclear plants, both on the shore of Lake Erie, are at risk of shutting down within a couple of years without support, according to their bankrupt owner, FirstEnergy Solutions. According to BloombergNEF’s model, the two plants tend to be loss-making and are projected to be $161 million in the red this year. So the support from HB6, worth up to $150 million a year from 2021 through 2027, looks very handy.The same goes for the two coal-fired plants – one of which is in Indiana – run by the Ohio Valley Electric Corporation. OVEC is co-owned by a number of power companies including FirstEnergy Corp., AES Corp. and American Electric Power Co. Inc. These two plants, constructed originally to power uranium enrichment for the Atomic Energy Commission, first switched on 64 years ago and their modeled margins look anything but sprightly.The new law’s language doesn’t make it easy to work out how big the subsidy to OVEC’s plants will be. However, Timothy Fox of ClearView Energy Partners LLC, a D.C.-based analysis firm, estimates it adds up to about $60 million a year between 2020 and 2030 – which compares quite nicely to the average annual $53 million loss from the two plants between 2012 and 2019, as modeled by BloombergNEF.FirstEnergy, headquartered in Akron, is a clear beneficiary of the law. Having made the spectacularly mistimed acquisition of coal-heavy Allegheny Energy Inc. in early 2011, FirstEnergy saw the economics of generation upended by flat-lining power demand, cheap shale gas and encroaching renewable energy, pushing its merchant-generation business, FirstEnergy Solutions, into bankruptcy. The Ohio Public Utility Commission has tried to help out with various measures, including my personal favorite, the “Distribution Modernization Rider,” which levied a fixed charge on the good ratepayers of Ohio under the rubric of spiffing up the grid – without actually requiring FirstEnergy to allocate the money to that. The state’s supreme court eventually overturned it, saying “something cannot be an incentive if it does not direct the utility toward a particular desired outcome,” which is tough to argue with, let’s face it.The new law has had an impact already: Moody’s Investors Service just upgraded the relatively low credit ratings of four of FirstEnergy’s utility subsidiaries.Its effects won’t end there, though. In drawing money away from renewable energy and efficiency mandates and directing it toward mandates for nuclear and coal plants, HB6 is like the inverse of renewable portfolio standards, using subsidies to extend the life of old technologies rather than encourage new ones. It’s possible to argue that, as a zero-carbon-emissions source of power, it makes sense to subsidize nuclear. But doing that in tandem with measures discouraging energy efficiency and new zero-carbon technologies (where, unlike with nuclear, costs are falling) and subsidize coal plants from the Eisenhower era rather shreds that line of reasoning.Instead, Ohio appears to be prioritizing both corporate interests and local economic and employment issues. As with towns left bereft by the closure of coal mines, so with power plants further down the supply chain shuttering. With any far-reaching technological disruption – especially one linked to the broad threat of climate change – there is an important role for public policy in alleviating the negative impact on communities dependent on the old paradigm. Yet Ohio’s approach is from the King Canute school of trying to hold back the tide. In the process, it will socialize corporate losses and pollution while stymieing incentives for new projects and energy businesses.Moreover, it’s an extreme example of a broader trend in the U.S. electricity sector; namely the erosion of wholesale power markets in favor of a panoply of directives that override price signals. “No one is speaking about the implications [of the law] for PJM,” says Fox, referring to the regional power market of which Ohio is a part. The more non-energy-related burdens are placed on power pricing, the tougher it is for those markets to function properly. Consider Energy Secretary Rick Perry’s attempts to subsidize nuclear and coal-fired plants on the spurious grounds of grid stability and national security While this might read as an argument against renewable portfolio standards, it isn’t. Remember, those are in place in lieu of a more transparent price signal to address the externalities of fossil fuels, such as a carbon tax. The latter could actually help nuclear power plants but would crush the tottering coal industry and the power plants it supplies. Which is why Ohio’s supposed market purists denouncing subsidized wind and solar power prefer instead to simply craft their own subsidies, swapping a vision of sunlit uplands for a mountain of coal.To contact the author of this story: Liam Denning at ldenning1@bloomberg.netTo contact the editor responsible for this story: Mark Gongloff at mgongloff1@bloomberg.netThis 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.
- Zacks
Utility Stock Q2 Earnings Roster for Jul 25: AEP, CMS & EIX
For the utility stocks, total Q2 earnings are likely to increase year over year on higher revenues.
- Market Realist
Mild Weather Mars FirstEnergy’s Q2 Earnings
Electric utility company FirstEnergy (FE) released its second-quarter earnings results on July 23. It reported adjusted EPS of $0.61.
