FirstEnergy Corp (FE) Quote - XNYS | Morningstar

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FirstEnergy in Discussions With Department of Justice on Ohio Bribery Settlement

Equity Analyst Charles Fishman

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA | Apr 23, 2021

We are reaffirming our $42 per share fair value estimate after narrow-moat FirstEnergy reported solid 2020 first-quarter earnings, reiterated 2021 operating EPS guidance of $2.40-$2.60, lowered its investment forecast, and disclosed it had commenced discussions with the U.S. Department of Justice regarding a possible deferred prosecution agreement with respect to the Ohio bribery case. Operating EPS for the recently ended quarter were $0.69 versus $0.66 in the 2020 first quarter.

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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

firstenergy@astfinancial.com

www.firstenergycorp.com

Sector Utilities

Industry Utilities - Regulated Electric

Most Recent Earnings Mar 31, 2021

Fiscal Year End Dec 31, 2019

Stock Type High Yield

Employees 12,153

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