FirstEnergy Reports Solid Regulated Results; Merchant Unit Bankruptcy and Separation Remains Likely
We are reaffirming our $35 fair value estimate along with our narrow moat and stable moat trend ratings after FirstEnergy reported solid third-quarter earnings in its regulated businesses versus last year, raised 2017 earnings guidance, and provided an update on its effort to exit the merchant generation business. Consolidated earnings per share guidance was raised and narrowed to $3.00-$3.10 from $2.70-$3.00.ÂThe increase in 2017 earnings guidance was primarily due to an improved short-term ou...
FirstEnergy is a public utility holding company. The company and its subsidiaries are principally involved in the transmission, distribution and generation of electricity. The company's reportable operating segments are comprised of: Regulated Distribution, which distributes electricity through the company's utility operating companies and also controls regulated electric generation capacity located primarily in West Virginia, Virginia and New Jersey; and Regulated Transmission, which provides transmission infrastructure owned and operated by the transmission companies and certain of the company's utilities to transmit electricity from generation sources to distribution facilities.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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