|Last Price$35.10||Day Change (%)0.57%|
|Open Price$34.21||Day Change ($)0.20|
|Day Range33.94–34.92||52-Week Range28.89–36.54|
As of Fri 7/1/2016 10:35:00 AM | USD
Greetings and welcome to the FirstEnergy Corp First Quarter 2014 Earnings Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.
Several years of depressed power prices have challenged its deregulated businesses.
FirstEnergy's recent operational progress and low-cost generation are impressive.
First Energy FE kicked off the utility industry's earnings season with a solid quarter. The year-to-date generation output reached a record of 61.9 million megawatt-hours sold, a 4% increase over last year despite milder weather. After adjusting for weather variance, the company is tracking our ...
Corporate credit spreads are fairly valued--albeit at the tight end of the range that we view as fairly valued.
Interest rate fears have weighed on the sector's absolute performance, but utilities' fundamentals remain strong for the most part.
The corporate bond market will probably struggle to return much above break-even in 2014.
Finally, utilities with good growth and attractive yields are on sale.
Regulated utilities could be hit hard by inflation, while diversified firms have long-term value that the market refuses to recognize.