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FirstEnergy Corp FE

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Morningstar’s Analysis

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FirstEnergy Slowly Moving Beyond Bribery Scandal; Looks to Sell Minority Stake in Transmission Unit

Andrew Bischof, CFA, CPA Senior Equity Analyst

Analyst Note

| Andrew Bischof, CFA, CPA |

We are reaffirming our $42 per share fair value estimate after FirstEnergy reported third-quarter operating earnings of $0.82 per share, compared to $0.84 in the same year-ago period. Management increased its operating earnings guidance range to $2.55-$2.65, up from $2.40-$2.60. Management previously indicated earnings would be in the upper end of the range. We plan to increase our full-year earnings estimate, but the increase will not have a material impact on our fair value. Our narrow moat and stable moat trend remain unchanged.

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Company Profile

Business Description

FirstEnergy is one of the largest investor-owned utilities in the United States with distribution utilities 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.

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