FirstEnergy Reports Strong 3Q; We Expect Flat 2019 Earnings Guidance at EEI Conference on Nov. 11
We are reaffirming our $41 per share fair value estimate and narrow moat rating after FirstEnergy reported strong third-quarter earnings, raised its 2018 earnings guidance, and reaffirmed its 6%-8% long-term EPS growth rate. Operating EPS was $0.80 in the recently ended quarter versus $0.63 in the same period last year. The strong results were driven by warm summer weather, increased weather-normalized residential usage, and continued industrial sales growth primarily from the shale gas and stee...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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