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4-Traders Homepage  >  Equities  >  Nyse  >  FirstEnergy Corp.    FE

Delayed Quote. Delayed  - 10/28 07:40:52 pm
33.92 USD   +0.06%
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FirstEnergy : Work Underway on New FirstEnergy Transmission Substation to Support Western Pennsylvania Shale Gas Industry

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10/27/2016 | 10:58pm CEST

By a News Reporter-Staff News Editor at Energy Weekly News -- Construction has begun on a new FirstEnergy Corp. (NYSE: FE) transmission substation near Burgettstown, Pa., to help meet the increased electrical usage of the area's expanding Marcellus Shale gas industry. The project also will reinforce the regional transmission system which is expected to benefit more than 40,000 West Penn Power customers in Allegheny and Washington counties.

Budgeted at approximately $40 million, the project will support two natural gas processing facilities being developed in the area projected to use more electricity annually than approximately 100,000 homes.

Construction crews are building foundations and raising steel structures for the new substation located in Smith Township in Washington County, with part of the facility expected to be operational by the end of the year. The project also includes erecting a new transmission line to connect the new substation to an existing transmission line nearby.

Another key aspect of the project is the installation of specialized voltage-regulating equipment designed to respond to real-time electrical conditions, boosting or reducing voltage as needed to maintain consistent levels on the regional transmission network. Slated for completion in mid-2017, that work involves installing capacitor banks, circuit breakers, communications equipment, a modular control building and two large transformers manufactured in Wisconsin that each weigh nearly 280,000 pounds.

"FirstEnergy's infrastructure enhancements continue to help support natural gas activity in Western Pennsylvania, said David W. McDonald, regional president of West Penn Power. "This project also will benefit existing customers by providing additional capacity and voltage support to our regional transmission network, especially commercial and industrial customers using specialized equipment sensitive to voltage fluctuations."

The project is part of FirstEnergy's plans to invest more than $200 million in 2016 in the West Penn Power area to help enhance service reliability. Trans-Allegheny Interstate Line Company (TrAILCo), a FirstEnergy transmission affiliate, will build and own the new substation.

West Penn Power serves about 720,000 customers in 24 Pennsylvania counties. Connect with West Penn Power on Twitter @W_Penn_Power and on Facebook at www.facebook.com/WestPennPower.

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. Follow FirstEnergy on Twitter @FirstEnergyCorp or online at www.firstenergycorp.com.

Editor's Note: Photos of work being done on the new FirstEnergy substation project in Washington County, Pa., are available for download on Flickr.

Keywords for this news article include: Oil & Gas, Natural Gas, FirstEnergy Corp..

Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2016, NewsRx LLC

(c) 2016 NewsRx LLC, source Science Newsletters

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Financials ($)
Sales 2016 15 150 M
EBIT 2016 2 485 M
Net income 2016 897 M
Debt 2016 19 102 M
Yield 2016 4,25%
P/E ratio 2016 26,31
P/E ratio 2017 13,22
EV / Sales 2016 2,21x
EV / Sales 2017 2,21x
Capitalization 14 414 M
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FirstEnergy Corp. Technical Analysis Chart | FE | US3379321074 | 4-Traders
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Mean consensus HOLD
Number of Analysts 20
Average target price 35,4 $
Spread / Average Target 4,5%
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Charles E. Jones President, Chief Executive Officer & Director
George M. Smart Non-Executive Chairman
James F. Pearson Executive Financial Officer & Senior VP
Robert B. Heisler Independent Director
Paul T. Addison Independent Director
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