FirstEnergy Corp (FE) Quote - XNYS | Morningstar

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

Senior Equity Analyst Andrew Bischof

Andrew Bischof, CFA, CPA Senior Equity Analyst

Analyst Note

| Andrew Bischof, CFA, CPA | Oct 29, 2021

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.

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 Sep 30, 2021

Fiscal Year End Dec 31, 2019

Stock Type High Yield

Employees 12,153

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