FirstEnergy Corp. Prepares for Winter Storm Response and Power Restoration
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1h ago
0mins
Source: PRnewswire
- Winter Storm Preparedness: FirstEnergy Corp. is ready for the impending winter storm, with forecasts indicating that the entire service area will experience cold weather and snowfall, ensuring rapid power restoration in case of outages.
- Around-the-Clock Command Structure: The company has activated its around-the-clock incident command structure to coordinate restoration efforts and equipment needs as weather conditions change, ensuring efficient resource allocation.
- Collaboration with Utilities: FirstEnergy is in close contact with other utilities and outside contractors to quickly mobilize additional crews in the event of widespread damage from the storm, ensuring timely response capabilities.
- Customer Safety Tips: The company advises customers to adopt energy-saving measures during extreme cold to lower bills and reduce strain on the electric system, providing 12 quick tips to help customers safely navigate the cold snap.
Analyst Views on FE
Wall Street analysts forecast FE stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FE is 49.25 USD with a low forecast of 46.00 USD and a high forecast of 54.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
10 Analyst Rating
4 Buy
6 Hold
0 Sell
Moderate Buy
Current: 47.050
Low
46.00
Averages
49.25
High
54.00
Current: 47.050
Low
46.00
Averages
49.25
High
54.00
About FE
FirstEnergy Corp. and its subsidiaries are involved in the transmission, distribution, and generation of electricity through its segments: Distribution, Integrated and Stand-Alone Transmission. The Distribution Segment, which consists of the Ohio Companies and FirstEnergy Pennsylvania Electric Company (FE PA), distributes electricity in Ohio and Pennsylvania. The Integrated segment includes the distribution and transmission operations under Jersey Central Power & Light Company (JCP&L), Monongahela Power Company (MP) and The Potomac Edison Company (PE), as well as MP's regulated generation operations. The segment distributes electricity in New Jersey, West Virginia and Maryland, provides transmission infrastructure, and operates 3,604 MWs of regulated net maximum generation capacity. The Stand-Alone Transmission segment consists of its ownership in FET and KATCo, which includes transmission infrastructure owned and operated by the Transmission Companies and used to transmit electricity.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
