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FirstEnergy Corp FE

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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.

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