Latest news with #FirstEnergyCorp
Yahoo
3 days ago
- Business
- Yahoo
FirstEnergy Stock: Is FE Underperforming the Utilities Sector?
FirstEnergy Corp. (FE), headquartered in Akron, Ohio, generates, transmits, and distributes electricity as well as explores, produces, and distributes natural gas. Valued at $23 billion by market cap, the company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities, and provides energy management and other energy related services. Companies worth $10 billion or more are generally described as 'large-cap stocks,' and FE perfectly fits that description, with its market cap exceeding this mark, underscoring its size, influence, and dominance within the utilities - regulated electric industry. FirstEnergy's diversified presence in regulated and competitive markets balances its revenue streams. Strategic investments in transmission infrastructure boost grid reliability and support renewable energy integration, serving over 6 million customers across multiple states with a seasoned leadership team. Grains, Unrest, & Gold: What Middle East Tensions Mean for Your Portfolio Now Solar Stocks Are Plunging on Trump's Tax Bill. Should You Buy the Dip? Hot US Temps and Middle East Tensions Boost Nat-Gas Prices Stop Missing Market Moves: Get the FREE Barchart Brief – your midday dose of stock movers, trending sectors, and actionable trade ideas, delivered right to your inbox. Sign Up Now! Despite its notable strength, FE slipped 11.7% from its 52-week high of $44.97, achieved on Sep. 5, 2024. Over the past three months, FE stock has declined marginally, underperforming the Utilities Select Sector SPDR Fund's (XLU) 1.5% gains during the same time frame. In the longer term, shares of FE dipped marginally on a YTD basis but climbed 3.9% over the past 52 weeks, underperforming XLU's YTD gains of 6.2% and 16.2% returns over the last year. To confirm the bearish trend, FE has been trading below its 50-day and 200-day moving averages since early June. On Apr. 23, FE shares closed down marginally after reporting its Q1 results. Its adjusted EPS of $0.67 topped Wall Street expectations of $0.60. The company's revenue was $3.8 billion, beating Wall Street forecasts of $3.7 billion. FE expects full-year adjusted EPS in the range of $2.40 to $2.60. In the competitive arena of utilities - regulated electric, Duke Energy Corporation (DUK) has taken the lead over FE, showing resilience with a 6.5% gain on a YTD basis and 13.9% uptick over the past 52 weeks. Wall Street analysts are moderately bullish on FE's prospects. The stock has a consensus 'Moderate Buy' rating from the 16 analysts covering it, and the mean price target of $45.36 suggests a potential upside of 14.2% from current price levels. On the date of publication, Neha Panjwani did not have (either directly or indirectly) positions in any of the securities mentioned in this article. All information and data in this article is solely for informational purposes. This article was originally published on
Malaysian Reserve
09-06-2025
- Business
- Malaysian Reserve
FirstEnergy Announces Proposed Offering of $950 Million of Convertible Senior Notes Due 2029 and $850 Million of Convertible Senior Notes Due 2031
AKRON, Ohio, June 9, 2025 /PRNewswire/ — FirstEnergy Corp. (NYSE: FE) ('FirstEnergy') announced today that it intends to offer, subject to market and other conditions, $950 million aggregate principal amount of convertible senior notes due 2029 (such series, the '2029 Notes') and $850 million aggregate principal amount of convertible senior notes due 2031 (such series, the '2031 Notes' and, together with the 2029 Notes, the 'Notes') in a private placement under the Securities Act of 1933, as amended (the 'Securities Act'). FirstEnergy also intends to grant to each of the initial purchasers of the Notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $150 million aggregate principal amount of the 2029 Notes and an additional $150 million aggregate principal amount of the 2031 Notes. FirstEnergy intends to use the net proceeds from the offering of the Notes for (i) the repurchase of all or a portion of the $1.5 billion aggregate principal amount outstanding of its 4.00% convertible senior notes due May 1, 2026, (ii) the repayment, redemption or refinancing of existing indebtedness, (iii) general corporate purposes, or (iv) any combination of the foregoing. FirstEnergy's management will have broad discretion in determining how the net proceeds from the offering will be used. The Notes will be unsecured and unsubordinated obligations of FirstEnergy, and will be convertible at the option of the holders of each series of Notes upon satisfaction of certain conditions and during certain periods. Interest will be payable semiannually in arrears. FirstEnergy will settle conversions of the Notes by paying cash up to the aggregate principal amount of the convertible notes to be converted and paying or delivering, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the Notes being converted. The interest rate, initial conversion rate and other terms of each series of Notes will be determined at the pricing of the offering. The offering is being made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Any offers of the Notes will be made only by means of a private offering memorandum. None of the Notes or any shares of the common stock issuable upon conversion of the Notes have been or are expected to be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any shares of common stock issuable upon conversion of the Notes, nor will there be any sale of the Notes or any such shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About FirstEnergy Corp. FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than 6 million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at and on X @FirstEnergyCorp. Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management and unless the context requires otherwise, references to 'we,' 'us,' 'our' and 'FirstEnergy' refers to FirstEnergy Corp. and its subsidiaries. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements typically contain, but are not limited to, the terms 'anticipate,' 'potential,' 'expect,' 'forecast,' 'target,' 'will,' 'intend,' 'believe,' 'project,' 'estimate,' 'plan' and similar words. These statements include declarations regarding management's intents, beliefs and current expectations, including statements regarding FirstEnergy Corp.'s current expectations and beliefs as to the pricing and closing of the convertible notes offering and use of the proceeds thereof. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve or rely on a number of known and unknown risks, uncertainties and other factors that are difficult to predict or are beyond our control, and reflect management's beliefs and assumptions based on information available at the time the statements are made. FirstEnergy Corp. cautions you that actual results may differ materially from those expressed, implied or forecast by the forward-looking statements. Risks that may cause these forward-looking statements to be inaccurate or incorrect include, among others whether we will be able to consummate the convertible notes offering; the final terms of the convertible notes offering; the satisfaction of customary closing conditions with respect to the convertible notes offering; prevailing market conditions; the anticipated use of net proceeds of the convertible notes offering which could change as a result of market conditions or for other reasons; and the risks and other factors discussed from time to time in our Securities and Exchange Commission filings, including, but not limited to, the most recent Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. FirstEnergy Corp. expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise.
Yahoo
09-06-2025
- Business
- Yahoo
FirstEnergy Announces Proposed Offering of $950 Million of Convertible Senior Notes Due 2029 and $850 Million of Convertible Senior Notes Due 2031
AKRON, Ohio, June 9, 2025 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) ("FirstEnergy") announced today that it intends to offer, subject to market and other conditions, $950 million aggregate principal amount of convertible senior notes due 2029 (such series, the "2029 Notes") and $850 million aggregate principal amount of convertible senior notes due 2031 (such series, the "2031 Notes" and, together with the 2029 Notes, the "Notes") in a private placement under the Securities Act of 1933, as amended (the "Securities Act"). FirstEnergy also intends to grant to each of the initial purchasers of the Notes an option to purchase, within a 13-day period from, and including, the date on which the convertible notes are first issued, up to an additional $150 million aggregate principal amount of the 2029 Notes and an additional $150 million aggregate principal amount of the 2031 Notes. FirstEnergy intends to use the net proceeds from the offering of the Notes for (i) the repurchase of all or a portion of the $1.5 billion aggregate principal amount outstanding of its 4.00% convertible senior notes due May 1, 2026, (ii) the repayment, redemption or refinancing of existing indebtedness, (iii) general corporate purposes, or (iv) any combination of the foregoing. FirstEnergy's management will have broad discretion in determining how the net proceeds from the offering will be used. The Notes will be unsecured and unsubordinated obligations of FirstEnergy, and will be convertible at the option of the holders of each series of Notes upon satisfaction of certain conditions and during certain periods. Interest will be payable semiannually in arrears. FirstEnergy will settle conversions of the Notes by paying cash up to the aggregate principal amount of the convertible notes to be converted and paying or delivering, as the case may be, cash, shares of its common stock or a combination of cash and shares of its common stock, at its election, in respect of the remainder, if any, of its conversion obligation in excess of the aggregate principal amount of the Notes being converted. The interest rate, initial conversion rate and other terms of each series of Notes will be determined at the pricing of the offering. The offering is being made to persons reasonably believed to be qualified institutional buyers pursuant to Rule 144A under the Securities Act. Any offers of the Notes will be made only by means of a private offering memorandum. None of the Notes or any shares of the common stock issuable upon conversion of the Notes have been or are expected to be registered under the Securities Act or any state securities laws and, unless so registered, may not be offered or sold in the United States or to U.S. persons except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act and applicable state securities laws. This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any shares of common stock issuable upon conversion of the Notes, nor will there be any sale of the Notes or any such shares in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About FirstEnergy Corp. FirstEnergy is dedicated to integrity, safety, reliability and operational excellence. Its electric distribution companies form one of the nation's largest investor-owned electric systems, serving more than 6 million customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate approximately 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions. Follow FirstEnergy online at and on X @FirstEnergyCorp. Forward-Looking Statements: This news release includes forward-looking statements based on information currently available to management and unless the context requires otherwise, references to "we," "us," "our" and "FirstEnergy" refers to FirstEnergy Corp. and its subsidiaries. Such statements are subject to certain risks and uncertainties and readers are cautioned not to place undue reliance on these forward-looking statements. These statements typically contain, but are not limited to, the terms "anticipate," "potential," "expect," "forecast," "target," "will," "intend," "believe," "project," "estimate," "plan" and similar words. These statements include declarations regarding management's intents, beliefs and current expectations, including statements regarding FirstEnergy Corp.'s current expectations and beliefs as to the pricing and closing of the convertible notes offering and use of the proceeds thereof. These forward-looking statements are not guarantees of future performance and they are based on management's expectations that involve or rely on a number of known and unknown risks, uncertainties and other factors that are difficult to predict or are beyond our control, and reflect management's beliefs and assumptions based on information available at the time the statements are made. FirstEnergy Corp. cautions you that actual results may differ materially from those expressed, implied or forecast by the forward-looking statements. Risks that may cause these forward-looking statements to be inaccurate or incorrect include, among others whether we will be able to consummate the convertible notes offering; the final terms of the convertible notes offering; the satisfaction of customary closing conditions with respect to the convertible notes offering; prevailing market conditions; the anticipated use of net proceeds of the convertible notes offering which could change as a result of market conditions or for other reasons; and the risks and other factors discussed from time to time in our Securities and Exchange Commission filings, including, but not limited to, the most recent Annual Report on Form 10-K, and any subsequent Quarterly Reports on Form 10-Q and Current Reports on Form 8-K. FirstEnergy Corp. expressly disclaims any obligation to update or revise, except as required by law, any forward-looking statements contained herein or in the information incorporated by reference as a result of new information, future events or otherwise. View original content to download multimedia: SOURCE FirstEnergy Corp. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
07-05-2025
- Business
- Yahoo
Low-flying helicopters expected across Pennsylvania: Here's why
(WHTM) — Residents across Pennsylvania will see low-flying helicopters over the next several months. FirstEnergy Corp. says practice aerial inspections of nearly 5,000 miles of high-voltage power lines are now underway in its six-state service area. Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Local Business Beat The helicopters are using infrared and ultraviolet technology to inspect the lines and poles. Helicopters will be flying between 25-35 mph to search for overheated components, voltage issues, loose connections, corrosion, and other potential issues. 350+ Pennsylvania Rite Aid stores listed for sale The IR/UV aerial inspections in FirstEnergy's territory are underway across the following areas over the next several months: Ohio – 1,046 miles of power lines, with nearly 64% completed. Pennsylvania – 2,220 miles of lines, with about 50% completed. New Jersey – 630 miles of lines, with about 42% completed. West Virginia & Maryland – 648 miles of lines, with about 20% completed. Mark Mroczynski, President of FirstEnergy Transmission, said Wednesday, 'The transmission system is the first line of defense in preventing power outages because it supplies the electricity that flows into substations and along power lines to every single one of our customers. This work supports the vast investments we're making to strengthen our power system to meet the country's growing energy needs.' Close Thanks for signing up! Watch for us in your inbox. Subscribe Now ICYMI: Top 5 Stories of the Week FirstEnergy serves more than 2 million customers in more than 50 Pennsylvania counties. Download the abc27 News+ app on your Roku, Amazon Fire TV Stick, and Apple TV devices Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed. For the latest news, weather, sports, and streaming video, head to ABC27.
Yahoo
02-05-2025
- Business
- Yahoo
Jim Cramer Calls FirstEnergy (FE) a Buy: 'Not Great, But Cheaper Than The Others'
We recently published a list of . In this article, we are going to take a look at where FirstEnergy Corp. (NYSE:FE) stands against other stocks that Jim Cramer discussed recently. Jim Cramer, the host of Mad Money, discussed the current economic outlook on Monday as he outlined why he believes the possibility of a recession this year may be less likely. He pointed out that while it is easy to be negative in the current climate, the situation is almost too obviously bad, which makes him hesitant to align with the pessimistic view. 'This morning, Craig Melvin interviewed me on the Today Show, and he correctly asked, are we going into a recession? I stuck my neck out and I said, no. Will the tariffs hurt? Yes. Will prices go higher? Yes. Could there be shortages? Absolutely.' READ ALSO Jim Cramer Commented on These 8 Stocks Recently and Jim Cramer's Game Plan for This Week: 16 Stocks in Focus Cramer emphasized that the way to understand whether a recession is likely often lies in employment figures. He noted that right now, there are more job openings than there are people to fill them. According to Cramer, the disparity makes it challenging for a recession to take hold in the near future. He recognized that some people would be impacted by corporate cost-cutting measures, often referred to as 'mitigation' by CEOs. 'That's the term CEOs are using when they talk about getting costs down to offset the impact of tariffs. Mitigation efforts usually mean taking supply chain costs out, but they also mean laying people off.' However, Cramer noted that companies are not rushing to let go of workers because they fear they would not be able to rehire them when business conditions improve. He pointed out that, historically, economies tend to recover, and it is difficult to derail growth when so many jobs are still being created. Cramer expressed confidence that upcoming reports, including the monthly labor data due on Friday, would show a healthy job market, which would further complicate the notion of a recession. 'That will make it very hard once again to slip into a full-blown recession anytime soon, and perhaps in several quarters, we will have a more steady and predictable trade policy. Anything's possible.' For this article, we compiled a list of 9 stocks that were discussed by Jim Cramer during the episode of Mad Money aired on April 28. We listed the stocks in ascending order of their hedge fund sentiment as of the fourth quarter of 2024, which was taken from Insider Monkey's database of over 1,000 hedge funds. Why are we interested in the stocks that hedge funds pile into? The reason is simple: our research has shown that we can outperform the market by imitating the top stock picks of the best hedge funds. Our quarterly newsletter's strategy selects 14 small-cap and large-cap stocks every quarter and has returned 373.4% since May 2014, beating its benchmark by 218 percentage points (). Solar panels in a large field, gleaming under the blazing sun. Number of Hedge Fund Holders: 42 A caller asked Cramer's thoughts on FirstEnergy Corp. (NYSE:FE), and he said: 'You know, it's not [a] great energy company. But you know what, it sells at a little bit cheaper than the others, and I think it's a buy.' FirstEnergy (NYSE:FE) generates, distributes, and transmits electricity using a mix of energy sources, including coal, nuclear, hydro, wind, and solar. The company manages extensive power lines for delivering electricity to customers. On April 25, Wells Fargo analyst Neil Kalton increased the price target on FE stock to $44 from $41 and maintained an Equal Weight rating. Following a more volatile Q4 update with lowered EPS guidance, the Q1 report was more stable. Wells noted that attention is currently on Ohio, where the base rate case is active and energy policy is moving forward. Overall, FE ranks 8th on our list of stocks that Jim Cramer discussed recently. While we acknowledge the potential of FE as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns, and doing so within a shorter timeframe. There is an AI stock that went up since the beginning of 2025, while popular AI stocks lost around 25%. If you are looking for an AI stock that is more promising than FE but that trades at less than 5 times its earnings, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey.
