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Last $34.64 USD
Change Today -0.07 / -0.20%
Volume 4.7M
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

firstenergy corp (FE) Key Developments

FirstEnergy Corp. to Enhance Electricity Service in Met-Ed 15-County Service Area

FirstEnergy Corp. has announced that it has scheduled more than 35 distribution and transmission infrastructure projects and other work in 2015 to reportedly enhance service reliability in Metropolitan Edison Company's, or Met-Ed's, 15-county service area. Scheduled projects in the Met-Ed service area in 2015 include upgrading substations in the Easton/Stroudsburg, Lebanon, Reading and York areas by installing or enhancing circuit breakers, switches and other equipment, along with inspecting transformers. Scheduled projects in the Met-Ed service area in 2015 also include installing new sectionalizing equipment, such as fuses and devices that reset automatically, to help reduce the number of outages across the entire Met-Ed service territory. Scheduled projects in the Met-Ed service area in 2015 also include installing capacitor banks and other equipment in the York, Reading, and Easton areas to help maintain proper voltage levels. This is expected to benefit Met-Ed's industrial and large commercial customers that operate large motors and other sensitive machinery. Capacitor banks help maintain proper voltages during periods of high demand. Scheduled projects in the Met-Ed service area in 2015 also include inspecting and replacing utility poles and overhead equipment. This inspection process is conducted on a 12-year cycle. Inspections began in January, with replacement work scheduled to be completed throughout the fall. Scheduled projects in the Met-Ed service area in 2015 also include repairing and replacing underground equipment throughout Met-Ed territory.

FirstEnergy Corp. Unveils Infrastructure Projects in Penelec's 31-County Area

FirstEnergy Corp. has announced that it has scheduled more than 60 distribution and transmission infrastructure projects and other work in 2015 designed to enhance service reliability in Pennsylvania Electric Company's, or Penelec's, 31-county service area. The scheduled projects in the Penelec service area for 2015 include upgrading substations in Altoona, Bradford, Clearfield, Erie, Huntingdon, Indiana, Johnstown, Mainesburg, Meshoppen and Towanda to help enhance customer reliability. These upgrades include adding new circuit breakers, switches and other equipment. The scheduled projects in the Penelec service area for 2015 also include inspecting and upgrading existing electrical circuits, including installing new wire, cable and fuses to help enhance customer service reliability throughout the Penelec service area; and inspecting, repairing, and replacing, as needed, streetlights throughout the Penelec service territory. The scheduled projects in the Penelec service area for 2015 also include installing radio-controlled switches that can be operated remotely from the company dispatch center in Erie, Pa., to help restore power more quickly and efficiently. The scheduled projects in the Penelec service area for 2015 also include installing equipment designed to help maintain proper voltage levels. This is expected to benefit Penelec's industrial and large commercial customers that operate large motors and other sensitive machinery. Capacitor banks are used to help maintain proper voltage levels during periods of high demand - most notably during summer months. Capacitor banks are scheduled to be installed in numerous locations throughout Penelec's service area. The scheduled projects in the Penelec service area for 2015 also include inspecting about 41,000 utility poles and making replacements, as needed. This inspection process is conducted on a 12-year cycle. Inspections began in January, with replacement work scheduled to be completed throughout the fall.

FirstEnergy Corp. Unveils Plans for Infrastructure Projects in Penn Power Area

FirstEnergy Corp. has announced plans for approximately 70 transmission and distribution infrastructure projects and other work in 2015 to help enhance reliability in the Pennsylvania Power Company, or Penn Power, service area. Major projects planned for this year include relocating substation equipment at a power plant that is being deactivated, building new circuits, replacing underground cables, inspecting and replacing utility poles, and installing automated remote control devices designed to reduce the number of outages Penn Power customers might experience. Scheduled projects in the Penn Power service area in 2015 include: constructing a new control building at a substation in New Castle; adding several large capacitor banks, also in New Castle, to enhance transmission system voltages; completing a new 138-kilovolt (kV) transmission line connecting substations in Campbell and McDowell to enhance service reliability in the area; and installing remote-control devices at strategic grid locations to help reduce the number of outages across the entire Penn Power service territory. Scheduled projects in the Penn Power service area in 2015 also include: replacing equipment at a substation near the Bruce Mansfield Plant to provide redundancy and enhance reliability; and, inspecting and replacing, as needed, more than 11,000 wooden poles in the Penn Power service area. This inspection process is conducted on a 12-year cycle. Inspections began in January, with replacement work scheduled to be completed throughout the fall.

FirstEnergy Corp. Announces Management Changes

FirstEnergy Corp. announced that Dr. Jerry Sue Thornton has been elected to the company's Board of Directors. Thornton is the former president of Cuyahoga Community College and currently serves as president emeritus of TRI-C as well as chief executive officer of Dream Catcher Educational Consulting. Additionally, Catherine A. Rein and Wes M. Taylor will retire from the FirstEnergy Board of Directors on May 19, 2015. Anthony J. Alexander, executive chairman, will step down from the Board on May 1, as previously announced. These changes will bring the size of FirstEnergy's Board to 13 members.

FirstEnergy Corp. Declares Quarterly Common Stock Dividend, Payable on June 1, 2015

The Board of Directors of FirstEnergy Corp. declared an unchanged quarterly dividend of 36 cents per share of outstanding common stock. The dividend will be payable on June 1, 2015, to shareholders of record at the close of business on May 7, 2015.

 

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FE

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Valuation FE Industry Range
Price/Earnings 68.5x
Price/Sales 1.0x
Price/Book 1.2x
Price/Cash Flow 9.6x
TEV/Sales NM Not Meaningful
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