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FirstEnergy Corp FE

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FirstEnergy Announces DOJ Agreement Settling Ohio Bribery Investigation

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are reaffirming our $42 per share fair value estimate after narrow-moat FirstEnergy reported solid 2020 second-quarter earnings, raised its 2021 operating EPS guidance to the upper half of its previous range of $2.40-$2.60, and disclosed it had reached an agreement with the U.S. Department of Justice with respect to the Ohio bribery investigation. Second-quarter operating EPS were $0.59 versus $0.57 in the same period last year.

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Company Profile

Business Description

FirstEnergy is one of the largest investor-owned utilities in the United States with 10 distribution utilities serving 6 million customers in six mid-Atlantic and Midwestern states. FirstEnergy also owns and operates one of the nation's largest transmission systems with more than 24,500 miles of lines.

Contact
76 South Main Street
Akron, OH, 44308
T +1 800 736-3402
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Jun 30, 2021
Fiscal Year End Dec 31, 2019
Stock Type High Yield
Employees 12,153

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