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Company Update: FirstEnergy Corp. (NYSE:FE)

November 20
09:35 2014

[PRNewswire] FirstEnergy Corp. (NYSE:FE) (TREND ANALYSIS), Metropolitan Edison (Met-Ed), a subsidiary of FirstEnergy Corp. (FE), is partnering with Reading Area Community College to reinstate its award-winning program to train the next generation of utility line workers. The Power Systems Institute (PSI) is a two-year program that combines hands-on utility skills at Met-Ed’s training facility in Reading with technical coursework in a Reading Area Community College classroom. Program graduates will earn an Associate of Applied Science degree with a focus on electric utility technology.

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Taking a look at the company’s recent performance, FirstEnergy Corp. (FE) reported Third quarter earnings for fiscal 2014 on November 04th. The company reported actual earnings per share of $0.89 against the consensus Street estimate of $0.88. FirstEnergy Corp. (FE) posted revenue of $3.90 billion against estimates of $3.12 billion.

FirstEnergy Corp. (FE) is currently valued at $15.66 billion and closed the last trading session at $36.64. The stock has a 50-day moving average of $35.18 and a 200-day moving average of $33.75.

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There are currently nine analysts that we track that cover the stock. Of those nine, three have a Buy rating, five have a Hold rating and one has a Sell rating. On a consensus basis this yields a score of 2.22 and a Hold. The combined price objective of these covering analysts is $33.33, which represents a 6.16% downside difference to the last closing price.

The most recent analyst activity consisted of Jefferies GroupReiterating their buy stance on the company. Jefferies Group has a price target from $36.50 to $38.00 which represents an upside of 3.71% from the last closing price. On the date of the report, the stock closed at $34.60.

Another research firm weighing in recently was Zacks who also reiterated their rating on the stock. On August 07th Zacks upgraded their price target on the stock $33.00, or a 9.93% downside to the current price. On the day of the report, FE shares closed at $31.45.

Company Profile

FirstEnergy Corp. (NYSE:FE)., a diversified energy company, generates, transmits, and distributes electricity in the United States. The company operates through Regulated Distribution, Regulated Transmission, and Competitive Energy Services segments. It owns and operates fossil, nuclear, oil and natural gas, and wind and solar power generating facilities. The company also provides energy-related products and services to wholesale and retail customers. It operates an electric distribution system comprising 267,640 miles of overhead pole line and underground conduit carrying primary, secondary, and street lighting circuits, as well as owns substations with a total installed transformer capacity of approximately 148,828,225 kilovolt-amperes. The company distributes electricity through within 65,000 square miles in Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. FirstEnergy Corp. was founded in 1996 and is based in Akron, Ohio.



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Paul Cole

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