[PRNewswire] FirstEnergy Corp. (NYSE:FE) has completed $6 million in new transmission projects and is evaluating additional system upgrades across its Ohio Edison service area to meet rising electric demand growth driven by the shale gas industry.
New facilities, including a high-voltage substation and transmission lines, were completed to accommodate new natural gas processing facilities and other energy-intensive operations in Ohio’s Utica Shale region. The new customer facilities are projected to ultimately generate about 125 megawatts (MW) of electric load growth, the equivalent of adding more than 60,000 new homes to Ohio Edison’s system.
“The shale gas industry is creating new jobs and helping restore economic prosperity to portions of our service territory,” said Randall A. Frame, regional president of Ohio Edison. “Part of the gas industry’s success relies on its ability to access safe, affordable and reliable electric power, and we are committed to meeting the demanding requirements of this fast-growing segment.” To view the full article click here.
FirstEnergy Corp. (NYSE:FE), On 11/4/2014, FE reported 3 quarter 2014 earnings of $0.89 per share. This result was in-line with the consensus of the 14 analysts following the company and missed last year’s 3 quarter results by 5.32%.
The next tentative earnings announcement is expected on 02/23/2015.
FE’s PE ratio is among the highest of any stock in the Electric Utilities industry and signals that investors have high hopes for this company’s future business prospects. However, during the past year, earnings growth has lagged its historical five year growth rate.
FirstEnergy Corp. (FE)‘s PE ratio is among the lowest of any stock in the Semiconductors industry and signals that investors have not been willing to pay a premium for this company’s business prospects. Additionally, during the past year, earnings growth has outpaced its historical five year growth rate.
In terms of ratings, there are ten analysts that cover the stock which have provided Q4 2014 earnings per share estimates. The consensus anticipated number for the upcoming quarter is $0.73. The highest estimate is $0.78 while the lowest is $0.65. The company has a one year EPS growth rate of -50.27% and a five year EPS growth rate of -27.18%.
FirstEnergy Corp. (NYSE:FE) is a holding company. The Company is a diversified energy company operating in three segments: regulated distribution, regulated transmission and competitive energy services segment. Regulated Distribution segment distributes electricity through its 10 utility operating companies, serving within 65,000 square miles of Ohio, Pennsylvania, West Virginia, Maryland, New Jersey and New York. Regulated Transmission segment transmits electricity through transmission facilities owned and operated by American Transmission Systems, Incorporated (ATSI) and Trans-Allegheny Interstate Line Company (TrAIL). Competitive Energy Services segment, through FirstEnergy Solutions Corp. ( FES) and Allegheny Energy Supply Company, LLC (AE Supply), supplies electricity to end-use customers through retail and wholesale arrangements, and the provision of partial provider of last resort (POLR) and default service for some utilities in Ohio, Pennsylvania and Maryland, including the Utilities.