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4-Traders Homepage  >  Equities  >  Nyse  >  FirstEnergy Corporation    FE

FIRSTENERGY CORPORATION (FE)
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FirstEnergy : Substation Upgrade to Benefit Penelec Customers in Erie County

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04/19/2018 | 10:45am CEST

ERIE - FirstEnergy (NYSE: FE) and its subsidiaries are upgrading and expanding a 230-kilovolt electric substation in North East, Pa., to enhance reliability for customers as well as reduce the frequency and duration of power outages for Pennsylvania Electric Company (Penelec) customers in Erie County.

The project includes new voltage-regulating equipment that will help maintain service reliability if a transmission line in the area experiences an outage. Crews are also installing four new circuit breakers that will enhance system performance and help shorten power outage restoration time. The estimated project cost is $10 million.

'When completed in June, the expanded facility will help keep power flowing to Penelec customers in the event one of our local transmission lines goes out of service due to weather, maintenance work or other disruption,' said Scott Wyman, regional president, Penelec. 'Modernizing this substation will provide much-needed flexibility and redundancy that allows our system operators to swiftly react to changing conditions on the grid.'

Construction crews are on track to complete the project on time and without a lost-time injury despite working through the area's snowiest winter in history. Nearby Erie, Pa., received nearly 200 inches of snow this winter, far exceeding the previous record of 149 inches set in the winter of 2000-01.

Penelec, a subsidiary of FirstEnergy Corp., serves approximately 590,000 customers in 31 Pennsylvania counties.

FirstEnergy is dedicated to safety, reliability and operational excellence. Its 10 electric distribution companies form one of the nation's largest investor-owned electric systems, serving customers in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland and New York. The company's transmission subsidiaries operate more than 24,000 miles of transmission lines that connect the Midwest and Mid-Atlantic regions.

Contact:

Doug Colafella

Tel: (330) 384-5375

(C) 2018 Electronic News Publishing, source ENP Newswire

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Financials ($)
Sales 2018 12 494 M
EBIT 2018 2 678 M
Net income 2018 1 207 M
Debt 2018 20 787 M
Yield 2018 4,12%
P/E ratio 2018 15,21
P/E ratio 2019 14,31
EV / Sales 2018 3,00x
EV / Sales 2019 3,13x
Capitalization 16 737 M
Chart FIRSTENERGY CORPORATION
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FirstEnergy Corporation Technical Analysis Chart | FE | US3379321074 | 4-Traders
Technical analysis trends FIRSTENERGY CORPORATION
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
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Mean consensus OUTPERFORM
Number of Analysts 17
Average target price 36,2 $
Spread / Average Target 3,2%
EPS Revisions
Managers
NameTitle
Charles E. Jones President, Chief Executive Officer & Director
George M. Smart Non-Executive Chairman
Steven E. Strah Chief Financial Officer & Senior Vice President
Paul T. Addison Independent Director
William T. Cottle Independent Director
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