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FirstEnergy Corp FE

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Morningstar’s Analysis

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FirstEnergy in Discussions With Department of Justice on Ohio Bribery Settlement

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 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
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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