Fri, Nov. 27, 11:48 AM
- Infrastructure investment is singled out by RBC analyst Shelby Tucker as an attractive sector heading into year-end, with FirstEnergy (FE +0.9%) as a top pick.
- If the 2014 purchased power agreement from Ohio's utilities gains approval, Tucker thinks it could add $150M-$200M of additional pre-tax income for FE's competitive energy services segment, and that the benefit to the company could translate to $0.15-$0.30 in EPS; the analyst says the outcome is not included in valuation models and estimates.
- Along with FE, Tucker rates NextEra Energy (NEE +0.6%) and PNM Resources (PNM +0.5%) as Outperform, with respective stock price targets of $39, $128 and $32.
Mon, Nov. 2, 11:45 AM
- FirstEnergy (FE -0.2%) is rated Neutral with a $32 price target at UBS, which says the timeline of the Ohio ESP is now pointing toward early 2016 in contrast to expectations that a resolution could be achieved by year-end.
- UBS says its conversations with key stakeholders indicate the negotiations have increased but the parties appear to remain far apart on key issues, and that year-end resolution for either FE or AEP is optimistic.
- UBS says FE management seems reluctant to provide updates on any long-term earnings or spending until it has visibility on if and how much equity it will need to support growth.
Thu, Oct. 29, 4:27 PM
Wed, Oct. 28, 5:35 PM
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Wed, Sep. 16, 7:03 PM
- J.P. Morgan analysts warn that companies with large amounts of floating-rate debt - including Chesapeake Energy, Freeport McMoRan, Ford and GE - could be at risk if the Fed decides to raise interest rates.
- Companies with variable/floating-rate debt suffer a more immediate impact by a rate hike than companies with fixed-rate debt, the analysts say; variable-rate coupons typically reset quarterly, meaning that changes in the base rate flow through almost immediately to variable-rate borrowers, while fixed-rate borrowers do not see such an impact until they refinance or issue new debt.
- JPM lists 25 companies - not including financials - that have the “highest variable-rate debt as a percentage of market cap": FMC, NRG, FCX, AES, CVC, LVLT, PVH, CHK, FE, DVA, THC, OI, CNX, F, HCA, FOSL, RCL, JOY, GE, ADS, ALLE, HBI, GT, DNB, AN
Tue, Sep. 15, 11:53 AM
Thu, Jul. 30, 4:23 PM
Wed, Jul. 29, 5:35 PM
- AIV, AMCC, AMGN, ATEN, AUY, AVD, AXTI, BAS, BCOR, BCOV, BRCM, BVN, CALD, CATM, CLW, CMLS, COHR, COLM, CPSI, CPT, CRAY, CTRL, CXP, DCT, DECK, DGI, DLR, DTLK, EA, EEP, EGO, EIX, ELLI, ES, ESS, EVHC, EXPE, FE, FEIC, FEYE, FLR, FLS, FR, FRGI, GB, GMED, HBI, HK, HME, HTCH, IM, IMMR, INT, ISBC, KAMN, KLAC, LEG, LNKD, LRE, LSCC, MOH, MTD, MTSN, MWA, MXWL, NGVC, NR, NSR, OLN, OMCL, OUTR, PCCC, PDFS, PKI, PODD, PTCT, PXLW, QLGC, QTM, RGC, RMD, RNG, ROVI, SAM, SB, SGEN, SKYW, SPF, SPN, SYA, SYNA, SZYM, TCO, TEP, TMST, TNAV, TNDM, TPX, TSYS, TXTR, UHS, VCRA, VVUS, WAGE, WBMD, WU, WWWW, YRCW, ZLTQ
Tue, Jul. 21, 12:46 PM
Mon, Jun. 29, 7:37 PM
- For some big U.S. power companies, the Supreme Court's rejection of EPA rules reducing air pollutants from coal-fired plants has arrived too late for them to turn away from a natural gas-fueled future.
- FirstEnergy (NYSE:FE) already has deactivated 5,429 MW of coal-fired generation and says it has no intention of placing any of it back on line, saying "deactivating power plants is an expensive process, and once they are deactivated it is difficult to restart them."
- Dynegy (NYSE:DYN) says it already spent $2B to comply with MATS and other air regulations, and NRG Energy (NYSE:NRG) says it already added the necessary equipment to comply with state and federal laws.
- Officials at other big power companies including American Electric Power (NYSE:AEP) and Duke Energy (NYSE:DUK) also say they will not change their ongoing MATS compliance activities.
- ETFs: XLU, UTG, IDU, VPU, GUT, BUI, FUTY, RYU, UPW, FXU, SDP
Fri, May 1, 7:09 AM
Thu, Apr. 30, 5:30 PM
Wed, Apr. 1, 12:26 PM
- Dynegy (DYN -2.1%) and NRG Energy (NRG -5.6%) are sharply lower after the FERC declined to approve a capacity performance plan submitted by the PJM Interconnection consortium and asked for answers to additional questions about the initiative.
- PJM operates a wholesale electricity market in the eastern U.S.; DYN is involved in the PJM and is looking to boost its share within the Regional Transmission Organization with proposed asset purchases, and a small part of NRG's capacity is within PJM.
- Deutsche Bank analyst Jonathan Arnold notes that FERC did not reject the proposal, but says FERC's action prolongs uncertainty for investors in the electric utilities that belong to PJM, which also include Exelon (EXC -1.8%), Public Service Enterprise (PEG -1.9%), American Electric (AEP +0.2%), PPL (PPL -0.4%) and FirstEnergy (FE -1.3%).
Tue, Mar. 17, 12:00 PM
Tue, Feb. 17, 4:13 PM
Mon, Feb. 16, 5:35 PM
FirstEnergy Corp. is the holding, directly or indirectly, of all of the outstanding common stock of its principal subsidiaries. It is a diversified energy company dedicated to safety, reliability and operational excellence.
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