FirstEnergy Corp. (FE) , Dominion Energy (D) and American Electric Power (AEP) have jointly proposed to build a new transmission project spanning several states in the Pennsylvania-New Jersey-Maryland Interconnection ("PJM") region. The objective behind the multi-state transmission line is to support the grid, cater to the rising electricity demand from energy-intensive industries in PJM and make space for renewables to be added to the grid. Per PJM Inside Line, PJM has released its new long-term load forec ...

AKRON, Ohio, Oct. 8, 2024 /PRNewswire/ -- FirstEnergy Corp. (NYSE: FE) will release financial results for the third quarter and first nine months of 2024 after markets close on Tuesday, October 29. These results will be discussed by FirstEnergy management during a conference call with financial analysts at 9 a.m. EDT on Wednesday, October 30. A question-and-answer session will follow. Investors, customers and other interested parties are invited to listen to a live webcast of the call and view presentation ...

Core Viewpoint - Companies FirstEnergy Corp., Dominion Energy Virginia, and American Electric Power have formed a joint planning agreement to propose new electric transmission projects to meet the growing power demand in the PJM region, enhancing regional grid reliability [1][2][3]. Group 1: Industry Context - The PJM region is experiencing unprecedented growth in power demand due to the expansion of energy-intensive industries, electrification of transportation and heating, and increased manufacturing onshoring [3]. - The Federal Energy Regulatory Commission (FERC) encourages efficient and cost-effective regional transmission development, which is crucial for meeting the rising energy needs [2]. Group 2: Project Details - The proposed projects include new 765-kV, 500-kV, and 345-kV transmission lines across Virginia, Ohio, and West Virginia, aimed at addressing reliability issues in the region [4]. - The companies submitted their joint proposals through PJM's Regional Transmission Expansion Plan (RTEP) Open Window process in September [4]. Group 3: Company Contributions - FirstEnergy Corp. operates approximately 24,000 miles of transmission lines and serves over six million customers across several states [6]. - Dominion Energy provides regulated electricity service to 3.6 million homes and businesses and is a leading developer of offshore wind and solar power [7]. - American Electric Power (AEP) operates the largest electric transmission system in the U.S. with over 40,000 miles of transmission lines and is investing $43 billion over the next five years to enhance grid reliability [8].

Core Insights - Companies Dominion Energy Virginia, American Electric Power, and FirstEnergy Corp. have formed a joint planning agreement to propose new electric transmission projects to meet the growing power demand in the PJM region [1][2][3] Group 1: Industry Context - The PJM region is experiencing unprecedented growth in power demand due to the expansion of energy-intensive industries, electrification of transportation and heating, and increased manufacturing onshoring [3] - The Federal Energy Regulatory Commission (FERC) encourages efficient and cost-effective regional transmission development [2] Group 2: Project Details - The proposed projects include new 765-kV, 500-kV, and 345-kV transmission lines across Virginia, Ohio, and West Virginia [4][5] - The companies submitted their joint proposals through PJM's Regional Transmission Expansion Plan (RTEP) Open Window process in September [4] Group 3: Company Contributions - Dominion Energy Virginia aims to leverage the expertise of the three companies to develop comprehensive and cost-effective solutions for regional reliability [4] - AEP operates the largest transmission network in the U.S. and is investing $43 billion over the next five years to enhance grid reliability and cleanliness [7] - FirstEnergy operates approximately 24,000 miles of transmission lines and serves over six million customers across multiple states [8]

Removal of dead and diseased trees in 2024 has already surpassed 2023 HOLMDEL, N.J., Oct. 7, 2024 /PRNewswire/ -- Jersey Central Power & Light (JCP&L), a subsidiary of FirstEnergy Corp. (NYSE: FE), has removed an increasing number of dead and diseased ash trees in portions of its New Jersey service territory this year as part of an effort to reduce power outages caused by at-risk trees near power lines. So far in 2024, JCP&L arborists have identified and removed more than 7,000 vulnerable ash trees, almost ...

Core Viewpoint - FirstEnergy Corporation (FE) is positioned as a solid investment option in the Utility sector due to its continuous capital investments aimed at enhancing infrastructure resilience and performance [1] Growth Projections & Surprise History - The Zacks Consensus Estimate for FE's 2024 earnings per share (EPS) is $2.70, reflecting a year-over-year growth of 5.5% [2] - The consensus estimate for 2024 sales is $13.78 billion, indicating a year-over-year growth of 7.1% [2] - The company's long-term earnings growth rate is projected at 7% over the next three to five years [2] - FE has a positive earnings surprise history, with an average trailing four-quarter earnings surprise of 2.66% [2] Dividend Yield - FirstEnergy has a current dividend yield of 3.86%, significantly higher than the Zacks S&P 500 composite average yield of 1.24% [3] - The board approved a new dividend policy in February 2023, increasing the target payout ratio to 60-70% from the previous 55-65% [3] Return on Equity - FirstEnergy's return on equity (ROE) stands at 12.12%, surpassing the industry average of 10.42%, indicating effective utilization of shareholders' funds [4] Solvency - The time-to-interest earned ratio at the end of the second quarter was 2.11, demonstrating the company's capability to meet future interest obligations without difficulties [5] Strategic Investments - FirstEnergy's strategic investments aim to enhance service efficiency for its 6 million customers, with the "Energize365" platform focused on improving customer experience while maintaining affordability [6] - Planned investments of $26 billion between 2024 and 2028 will facilitate the installation of advanced equipment and technologies to modernize transmission and distribution infrastructure [7] Stock Performance - Shares of FirstEnergy have increased by 23.4% year-to-date, outperforming the industry's growth of 22.7% [8]

The Utilities group has plenty of great stocks, but investors should always be looking for companies that are outperforming their peers. Has FirstEnergy (FE) been one of those stocks this year? A quick glance at the company's year-to-date performance in comparison to the rest of the Utilities sector should help us answer this question. FirstEnergy is one of 105 individual stocks in the Utilities sector. Collectively, these companies sit at #3 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 diff ...

FirstEnergy tips to help keep the candy – and electricity – flowing safely AKRON, Ohio, Oct. 3, 2024 /PRNewswire/ -- As neighborhoods across the country gear up for Halloween, FirstEnergy Corp. (NYSE: FE) reminds the public to keep safe in their decorating and celebrations this fall. Celebrating responsibly can help people of all ages enjoy the season safely and keep power flowing reliably. Candace Webb, Manager of Public Safety at FirstEnergy: "As Halloween approaches, it's important to remember that while ...

FirstEnergy Corporation (FE) announced that its subsidiary, American Transmission Systems, Inc. ("ATSI"), is expanding and upgrading a high-voltage substation in Sylvania Township, Lucas County. The project is expected to be completed and go into service in early 2025. Benefits of the Project As a result of this development, more than 20,000 Toledo Edison customers in northwest Ohio are expected to benefit from improved electric service reliability. The project will involve the installation of new automated ...

Core Insights - FirstEnergy Corporation has introduced a new technology, the Advanced Vegetation Analytics Tool, aimed at predicting and reducing tree-related outages across its service area, enhancing system resiliency and minimizing outages during storms [1][2][3] Group 1: Technology and Implementation - The Advanced Vegetation Analytics Tool utilizes data from various sources, including soil, weather, historical outages, and aerial patrol photos, to identify patterns and assess the risk of trees impacting power lines [2][3] - This tool will help FirstEnergy manage its resources more efficiently, ensuring a reliable electricity supply to customers while optimizing crew management and budget allocation [3] Group 2: Importance of Vegetation Management - Proper vegetation management is crucial for transmission and distribution companies to maintain uninterrupted service, especially in the face of climate change and extreme weather events that can damage infrastructure [4] - Utilities spend billions annually on vegetation management to protect their infrastructure from tree-related outages [4] Group 3: Industry Practices - Various methods have been employed by utilities to manage vegetation, including the use of aerial saws and helicopters for tree trimming and inspections [5] - Some utilities, like Dominion Energy, have initiated programs to bury power lines underground to enhance grid resilience against vegetation and extreme weather [6] Group 4: Stock Performance - Over the past year, FirstEnergy's stock has increased by 42.1%, outperforming the industry average growth of 39.7% [7] - The company currently holds a Zacks Rank of 3 (Hold), while Pampa Energía S.A. is rated 1 (Strong Buy) in the same industry [9]