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FirstEnergy Corp (FE.N)

FE.N on New York Stock Exchange

33.85USD
23 May 2018
Change (% chg)

$0.29 (+0.86%)
Prev Close
$33.56
Open
$33.62
Day's High
$33.98
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$33.51
Volume
897,081
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1,850,705
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$35.55
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$28.38

Latest Key Developments (Source: Significant Developments)

8Point3 Energy Says ‍Will Recognize Estimated Impairment In Range Of $40 Mln To $48 Mln During Q2 Due To Termination Of Maryland Solar Project ​
Friday, 6 Apr 2018 

April 5 (Reuters) - 8point3 Energy Partners LP ::8POINT3 ENERGY SAYS ‍WILL RECOGNIZE ESTIMATED IMPAIRMENT IN RANGE OF $40 MILLION TO $48 MILLION DURING Q2 2018 DUE TO TERMINATION OF MARYLAND SOLAR PROJECT ​.8POINT3 ENERGY SAYS ‍IF MARYLAND SOLAR PPA IS TERMINATED, CO EXPECTS DECREASE IN FUTURE REVENUES BEGINNING ON JAN 1, 2020 - SEC FILING​.THE IMPAIRMENT LOSS WILL HAVE A MATERIAL ADVERSE EFFECT ON CO'S SECOND QUARTER 2018 NET INCOME ( LOSS).8POINT3 ENERGY PARTNERS LP SAYS CO'S ‍Q2 2018 REVENUE IS NOT IMPACTED IF MARYLAND SOLAR PPA IS TERMINATED​.  Full Article

FirstEnergy Solutions Files Deactivation Notice For Three Nuclear Plants In Ohio And Pennsylvania
Thursday, 29 Mar 2018 

March 28 (Reuters) - FirstEnergy Corp ::FIRSTENERGY SOLUTIONS FILES DEACTIVATION NOTICE FOR THREE COMPETITIVE NUCLEAR GENERATING PLANTS IN OHIO AND PENNSYLVANIA.FIRSTENERGY CORP - 4,048 MEGAWATTS OF ELECTRICITY GENERATING CAPACITY TO RETIRE BY 2021.FIRSTENERGY CORP - PLANTS TO CONTINUE NORMAL OPERATIONS IN INTERIM.FIRSTENERGY CORP - COMPANY SEEKS POLICY SOLUTIONS AS ALTERNATIVE TO DEACTIVATION.FIRSTENERGY CORP - ABOUT 2,300 PLANT EMPLOYEES ARE EXPECTED TO BE AFFECTED BY ULTIMATE DEACTIVATIONS.FIRSTENERGY - STRATEGIC REVIEW OF FES'S 2 REMAINING COAL PLANTS & 1 NATURAL GAS PLANT, TOTALING 5,245 MW, WILL CONTINUE AS PART OF NOV 2016 PLAN.FIRSTENERGY - CONTINUES TO WORK TOWARD LEGISLATIVE SOLUTIONS TO KEEP PLANTS OPERATING, BUT WILL ALSO LOOK FOR POTENTIAL BUYERS AS ANOTHER ALTERNATIVE.FIRSTENERGY CORP - TWO-YEAR-PLUS LEAD TIME IS NEEDED TO MAKE PREPARATIONS FOR POTENTIAL PLANT DEACTIVATION.  Full Article

FirstEnergy's Ohio Utilities File Proposal to Modernize Electric System and Prepare for Smart Technologies
Saturday, 2 Dec 2017 

Dec 1 (Reuters) - Firstenergy Corp ::FIRSTENERGY CORP - CO'S OHIO UTILITIES FILED PLAN AT PUBLIC UTILITIES COMMISSION OF OHIO AIMED AT REDUCING FREQUENCY AND DURATION OF POWER OUTAGES.FIRSTENERGY CORP - ‍ PLAN TO REDUCE FREQUENCY AND DURATION OF POWER OUTAGES OUTLINES A THREE-YEAR, $450 MILLION INVESTMENT IN PROJECTS.  Full Article

FirstEnergy reports Q3 non-GAAP earnings per share $0.97
Friday, 27 Oct 2017 

Oct 26 (Reuters) - FirstEnergy Corp :FirstEnergy announces third quarter 2017 results.Sees FY 2017 non-GAAP operating earnings per share $3.00 to $3.10.Sees FY 2017 GAAP earnings per share $2.02 to $2.42.Q3 GAAP earnings per share $0.89.Q3 revenue $3.7 billion versus I/B/E/S view $3.78 billion.Q3 non-GAAP earnings per share $0.97.Q3 earnings per share view $0.87 -- Thomson Reuters I/B/E/S.FirstEnergy Corp says ‍raised its forecast for 2017 GAAP earnings to a range of $2.02 to $2.42 per basic share​.Fy2017 earnings per share view $2.83 -- Thomson Reuters I/B/E/S.  Full Article

Moody's says potential U.S. tax policy reform could be credit negative for regulated utilities
Wednesday, 15 Mar 2017 

Moody's Investors Service :Moody's - potential us tax policy reform could be credit negative for regulated utilities.  Full Article

FirstEnergy says does not expect hurricane Matthew to impact co's service territories
Friday, 7 Oct 2016 

FirstEnergy Corp: FirstEnergy utility crews mobilize to assist hurricane Matthew power restoration efforts in Florida ."It's not expected that hurricane Matthew will impact any Firstenergy service territories".  Full Article

FirstEnergy Q2 GAAP loss per share $2.56
Friday, 29 Jul 2016 

FirstEnergy Corp : Announces Second Quarter 2016 Results, Provides Third Quarter And Full-Year 2016 guidance . Sees q3 non-gaap operating earnings per share $0.65 to $0.75 . Sees Q3 GAAP earnings per share $0.63 to $0.73 . Sees fy 2016 non-gaap operating earnings per share $2.40 to $2.60 . Q2 GAAP loss per share $2.56 . Q2 revenue $3.4 billion versus i/b/e/s view $3.58 billion . Q2 non-gaap earnings per share $0.56 . Q2 earnings per share view $0.54 -- Thomson Reuters I/B/E/S . Sees fy 2016 GAAP loss per share $0.55 to $0.75 . Q3 earnings per share view $0.82 -- Thomson Reuters I/B/E/S .Fy2016 earnings per share view $2.65 -- Thomson Reuters I/B/E/S.  Full Article

FirstEnergy to recognize pre-tax impairment charges of about $647 mln in Q2 for closure of 2 generating units
Friday, 22 Jul 2016 

FirstEnergy Corp : Expects Q2 results to reflect valuation allowance against state, local net operating loss carryforwards of $159 million - SEC filing . Also expects Q2 results will reflect a valuation allowance against state and local net operating loss carryforwards of $159 million . Will recognize pre-tax impairment charges for closure of two generating units of about $647 million in Q2 of 2016 . Co and unit expect that Q2 2016 results will reflect a charge of $58 million from settlement and termination costs on coal contracts .Impact of goodwill impairment,contract settlement,termination costs to not cause co/unit to be in default of credit facilities/debt covenants.  Full Article

FirstEnergy to deactivate units at 2 Ohio power plants
Friday, 22 Jul 2016 

FirstEnergy Corp : FirstEnergy to deactivate units at two Ohio power plants . Units 1-4 of company's seven-unit W.H. Sammis plant in Stratton, Ohio - representing 720 MW of capacity - will be retired in May 2020 . FirstEnergy Corp says no job reductions are expected at either plant . Unit will make operational changes to coal-fired units at two of its Ohio plants in response to challenging market conditions . Plans to sell or deactivate 136-megawatt (MW) bay shore unit 1 in Oregon, Ohio, by October 2020 . Will work with any potential buyer to discuss continued employment for 78 employees at Bay Shore, or if plant is deactivated .Does not intend to offer Bay Shore unit 1 and Sammis units 1-4 into PJM capacity auction for 2020-2021 timeframe.  Full Article

BRIEF-FirstEnergy - On May 3 AE Supply Gave Notice Of Optional Redemption Of About $305 Mln Senior Notes

* FIRSTENERGY - PER OBLIGATIONS UNDER ASSET PURCHASE AGREEMENT, ON MAY 3 AE SUPPLY GAVE NOTICE OF OPTIONAL REDEMPTION OF ABOUT $305 MILLION SENIOR NOTES