Firstenergy Corp Stock Price, News & Analysis

FirstEnergy Corp. (NYSE: FE) will announce its financial results for Q4 and the full year of 2021 post-market on February 10. Management will discuss the findings during a conference call with financial analysts at 9 a.m. EST on February 11, followed by a Q&A session. Interested parties can listen to the live webcast and view presentation materials on FirstEnergy's Investor Information website. The presentation and supporting documents will be available for viewing after the earnings release.

FirstEnergy Corp. (NYSE: FE) is mobilizing its utility personnel in anticipation of a powerful winter storm expected to impact Ohio, Pennsylvania, and West Virginia. The storm may bring up to 2 feet of snow and various forms of precipitation. To address potential power outages, the company is implementing storm response plans, enhancing staffing, and coordinating with contractors and mutual assistance groups. Customers are urged to prepare for possible outages and can report issues via a dedicated hotline or online platforms. FirstEnergy aims to restore power quickly and effectively.

On February 1, 2022, FirstEnergy Corp announced a $2.5 million investment in Energy Impact Partners' Frontier Fund, aiming to support early-stage decarbonization technologies. This investment aligns with FirstEnergy's goal of achieving carbon neutrality by 2050 and a 30% reduction in greenhouse gas emissions by 2030. The company has previously invested $20 million in EIP’s Fund II and $2.5 million in the Elevate Future Fund. FirstEnergy emphasizes its commitment to innovation and sustainable energy solutions.

Potomac Edison, a subsidiary of FirstEnergy Corp. (NYSE: FE), has initiated a utility pole recycling program in Maryland and West Virginia, aimed at sustainability. This program allows used poles to be repurposed for various applications such as fencing and landscaping, significantly reducing landfill waste. Each participating service center will collect poles and work with Blackwood Solutions for distribution at no cost to interested parties. The program, first piloted in 2020, highlights FirstEnergy's commitment to environmental responsibility in its operations.

On January 25, 2022, FirstEnergy Corp. (NYSE: FE) appointed Steve Fortune as vice president and chief information officer, effective February 7. Fortune will lead the company's IT organization, focusing on cybersecurity, innovation, and digital transformation. His experience includes over 30 years at BP, where he held various IT leadership roles, ultimately overseeing BP's global IT strategy and cybersecurity. FirstEnergy aims to enhance operational efficiency and customer experience through its FE Forward initiative, guided by Fortune's leadership.

The Illuminating Company, a subsidiary of FirstEnergy (NYSE: FE), is enhancing the power infrastructure in Parma, Ohio, to strengthen the local grid and reduce service disruptions during severe weather. This initiative will benefit nearly 15,000 residents and businesses, featuring new automated equipment in two substations and on power lines. The upgrades include 41 automated reclosing devices to minimize outages and 35 capacitor banks for better power distribution. The project commenced in November 2021 and is expected to conclude in 2022.

On December 21, 2021, the FirstEnergy Foundation donated $10,000 to Ravens Care in Defiance, Ohio, as part of its annual "Gifts of the Season" campaign. This contribution aims to support emergency assistance programs for families in need within the Toledo Edison service area. Ravens Care, established in 1993, provides crucial support such as food vouchers and temporary lodging. The Foundation's president emphasized the importance of this support during challenging times, especially for low-income families. Since 2016, the campaign has awarded nearly $500,000 to various organizations to strengthen communities.

FirstEnergy Corp. (NYSE: FE) has declared a quarterly dividend of 39 cents per share, which will remain unchanged. The dividend is scheduled for payment on March 1, 2022, to shareholders of record by the close of business on February 7, 2022. This decision reflects the company's commitment to financial stability while operating one of the largest investor-owned electric systems in the U.S., serving customers across multiple states including Ohio and Pennsylvania.