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FirstEnergy Corp. - FE STOCK NEWS

Welcome to our dedicated page for FirstEnergy news (Ticker: FE), a resource for investors and traders seeking the latest updates and insights on FirstEnergy stock.

FirstEnergy Corp. (NYSE: FE) is a leading investor-owned utility headquartered in Akron, Ohio. The company operates through its 10 regulated distribution utilities, serving over six million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York. FirstEnergy's vast transmission network spans more than 24,000 miles, connecting the Midwest and Mid-Atlantic regions, making it one of the largest electric systems in the nation.

Committed to operational excellence, safety, and reliability, FirstEnergy is actively engaged in various projects that enhance the quality of life for its customers and communities. The company has an impressive portfolio of ongoing initiatives aimed at fostering environmental sustainability. For instance, FirstEnergy has pledged to plant over 25,000 trees in 2024 as part of its environmental responsibility efforts, which have already seen over 67,000 trees planted since 2021.

Financial performance remains strong. FirstEnergy reported first-quarter 2024 GAAP earnings of $253 million on revenue of $3.3 billion. The company continues to maintain a healthy balance sheet and aims for a long-term annual operating earnings growth rate of 6% to 8%, supported by its $26 billion five-year capital investment plan, Energize365.

The company's latest projects include aerial inspections of nearly 7,000 miles of transmission lines using advanced infrared technology to ensure the safety and reliability of its network. Additionally, FirstEnergy's Toledo Edison has embarked on a $342,000 LED streetlight conversion project in Sylvania, Ohio, expected to save the city $77,000 annually in energy costs.

FirstEnergy also focuses on improving infrastructure in rural areas. Mon Power, a subsidiary, has been selected to receive up to $5 million in federal funding to upgrade power lines in West Virginia, enhancing reliability for thousands of customers.

In leadership news, Nikhil Rao has been promoted to Associate General Counsel, emphasizing the company's focus on robust legal and regulatory compliance. Rao brings extensive experience in litigation and labor law, reinforcing FirstEnergy's commitment to integrity and operational excellence.

For those interested in career opportunities, FirstEnergy actively engages with potential employees through its FirstEnergy Careers Facebook community, sharing job postings and career tips.

Overall, FirstEnergy Corp. continues to lead with a steadfast commitment to making lives brighter, the environment better, and communities stronger.

News

FirstEnergy Announces Fourth Quarter and Full Year 2023 Financial Results

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FirstEnergy Corp. reported full year 2023 GAAP earnings of $1.96 per share, with 2023 Operating earnings of $2.56 per share. The company provided a 2024 operating guidance of $2.61 to $2.81 per share, driven by a $26 billion capital investment plan to enhance customer experience and support energy transition. The company also affirmed a 6-8% targeted annual operating earnings per share growth rate.
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Let Feelings Fly this Valentine's Day, Not Foil Balloons

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FirstEnergy Corp. reminds customers to handle helium-filled foil balloons safely to prevent power outages. The company has seen a decrease in balloon-related outages but continues to experience issues due to metallic balloons. Last year, 108 power outages were caused by foil balloons. The company urges people to secure and deflate metallic balloons properly to prevent outages and ensure community safety.
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FirstEnergy Ohio Utilities’ Competitive Bidding Process Auction: Information Session for Prospective Bidders on Thursday, February 8, 2024

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CRA International, Inc. (CRAI) will conduct an auction process for FirstEnergy Corp.'s Ohio subsidiaries to procure full requirements service for their customers, scheduled for March 19, 2024. The auction will use a descending-price clock format and will be managed by CRA International, Inc. The Information Session for prospective bidders is set for February 8, 2024, with application deadlines in February. The auction is being conducted under the approval of the Public Utilities Commission of Ohio (PUCO).
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Settlement Reached in JCP&L Rate Review that Supports Continued Reliability Enhancements

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FirstEnergy Corp. subsidiary, Jersey Central Power and Light (JCP&L), has reached a settlement in its base rate review with the New Jersey Board of Public Utilities. If approved, residential rates will remain the lowest among the state's regulated electric utilities. The settlement will allow JCP&L to invest in enhancing electrical infrastructure for its 1.1 million customers while continuing to recover investments in restoring electricity following storms and severe weather. The settlement includes infrastructure upgrades, tree trimming, and energy assistance programs to benefit customers. Jim Fakult, President of JCP&L, emphasized the agreement's focus on delivering safe, reliable, and affordable electricity, as well as providing assistance to customers facing financial hardship.
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Mon Power and Potomac Edison Reach Settlement in Rate Review

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FirstEnergy Corp. subsidiaries Mon Power and Potomac Edison filed a settlement agreement with the West Virginia Public Service Commission to resolve the base rate review proceeding. The agreement supports investments in energy grid strengthening, funds reliability programs, and provides assistance to customers facing financial hardship. If approved, the $105 million rate adjustment agreement would increase the monthly bill for an average residential customer by 8% or $9.94 beginning March 27, 2024.
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Proposed Electric School Bus Pilot Program Aimed to Help Maryland Achieve Climate Goals and Help Public Schools Meet Transportation Needs

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FirstEnergy Corp. subsidiary Potomac Edison has submitted a proposal for a five-year Electric School Bus Pilot Program to the Maryland Public Service Commission, aiming to support the state's climate goals. The program includes financial incentives for school districts, reimbursements for EV charging infrastructure, assessments of grid capacity and technical support, and connection to the electric grid. The pilot also aims to reduce greenhouse gas emissions and improve overall health in local communities. Approval of the initiative will allow exploration of using stored energy in electric school bus batteries during grid emergencies, potentially benefiting all customers in the future.
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FirstEnergy Ohio Utilities’ Competitive Bidding Process Auction: Applications From Prospective Bidders Due No Later Than Thursday, January 25, 2024

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CRA International, Inc. (NASDAQ: CRAI) will conduct an auction process for FirstEnergy Corp.'s Ohio subsidiaries to procure full requirements service for their Standard Service Offer customers. The auction is scheduled for February 19, 2024, and will use a descending-price clock auction format. The bidding process will be managed by CRA International, Inc. and is being conducted pursuant to approval from the Public Utilities Commission of Ohio (PUCO). Part 1 Applications from prospective bidders are due by January 25, 2024, and the submission window for the Part 2 Application process will begin on January 30, 2024.
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FirstEnergy Power Restoration Efforts Progress Through Continued Winter Storm

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FirstEnergy Corp. is working to restore power to customers affected by severe weather conditions, with over 192,000 customers losing power due to the storm. Crews are working around the clock to assess damage and restore service, with more than 6,100 employees and resources involved in the effort. Estimated restoration times are not available yet, and the ongoing event may cause further damage. Various regions have been impacted, with thousands of customers still without power. Customers can report outages through specific channels provided by FirstEnergy Corp.
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Power Restored to Most FirstEnergy Customers Following Winter Storm

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FirstEnergy Corp. (NYSE: FE) has restored power to 97% of the 373,000 customers who lost power following a significant storm. Crews continue to work to restore service to the 12,600 customers who remain without power in Pennsylvania and New Jersey. FirstEnergy is preparing for a new storm system that will impact its entire service territory beginning Friday through early Sunday morning. Wade Smith, President of FirstEnergy Utilities, thanked customers for their patience and support of the hardworking crews. More than 5,000 line workers, hazard responders, forestry crews, contractors, safety, and other support personnel have been involved in the storm response.
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FirstEnergy Crews Restoring Power to Customers Amid Continued Winter Storm

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FirstEnergy Corp. (NYSE: FE) experienced a significant power outage affecting more than 310,000 customers due to severe weather conditions. Service has been restored to over 247,000 customers, with ongoing efforts to repair damages and restore power to the remaining customers.
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FAQ

What is the current stock price of FirstEnergy (FE)?

The current stock price of FirstEnergy (FE) is $41.79 as of November 22, 2024.

What is the market cap of FirstEnergy (FE)?

The market cap of FirstEnergy (FE) is approximately 24.3B.

What states does FirstEnergy serve?

FirstEnergy serves customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York.

How many customers does FirstEnergy have?

FirstEnergy serves over six million customers.

What is FirstEnergy's commitment to environmental sustainability?

FirstEnergy has pledged to plant over 25,000 trees in 2024 and has already planted over 67,000 trees since 2021.

What are FirstEnergy's latest financial results?

For the first quarter of 2024, FirstEnergy reported GAAP earnings of $253 million on revenue of $3.3 billion.

What is the Energize365 plan?

Energize365 is FirstEnergy's $26 billion five-year capital investment plan focused on enhancing reliability and the customer experience.

How is FirstEnergy improving infrastructure in rural areas?

Mon Power, a FirstEnergy subsidiary, has received up to $5 million in federal funding to upgrade power lines in rural West Virginia.

What recent project has Toledo Edison undertaken?

Toledo Edison has started a $342,000 LED streetlight conversion project in Sylvania, Ohio.

Who is the new Associate General Counsel of FirstEnergy?

Nikhil Rao has been promoted to Associate General Counsel, overseeing litigation, claims, employment, and labor law issues.

How does FirstEnergy ensure the safety of its transmission lines?

FirstEnergy uses helicopters equipped with infrared technology for aerial inspections of its transmission lines.

Where can I find FirstEnergy's job postings and career tips?

You can find job postings and career tips on the FirstEnergy Careers Facebook community.

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FirstEnergy Corp.

NYSE:FE

FE Rankings

#482 Ranked by Market Cap
#716 Ranked by Dividends

FE Stock Data

24.28B
575.60M
0.12%
89.57%
1.79%
Utilities - Regulated Electric
Electric Services
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United States of America
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