FirstEnergy: Attractive Valuation Overshadowed By Static Dividend And Legal Issues

FirstEnergy (NYSE:FE) is a holding company for ten electric utility companies in the Midwest and Mid-Atlantic. Collectively they serve over 6.2 million customers in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. The company was incorporated in 1996 and became a wholly regulated utility in 2016. It is currently head quartered in Akron, Ohio. Some of the familiar subsidiaries include Monongahela Power, The Cleveland Electric Illuminating Company, Jersey Central Power & Light, Metropolitan Edison, Toledo Edison and Ohio Edison. The total generating capacity of the company is 3,580 megawatts (following the sale of some generation assets), and the current market cap is $20.76 billion, making it the fifteenth largest US electric utility.

seekingalpha.com     Dec 26, 2023