1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
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.
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.
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