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FirstEnergy Corp FE

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Morningstar’s Analysis

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Biden's Infrastructure Plan Would Benefit FirstEnergy's Transmission Investment

Charles Fishman, CFA Equity Analyst

Analyst Note

| Charles Fishman, CFA |

We are reaffirming our $42 fair value estimate for FirstEnergy after President Joe Biden announced a $2.3 trillion infrastructure investment plan. Biden’s proposal calls for $100 billion to upgrade and expand the U.S. transmission system. However, passage of the plan could be challenging with Democrats holding only small majorities in the U.S. House and Senate. Even if Biden is unsuccessful in advancing his infrastructure plan, we believe the administration’s focus on infrastructure will bolster FirstEnergy’s transmission investment.

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Company Profile

Business Description

FirstEnergy is one of the largest investor-owned utilities in the United States with 10 distribution utilities serving 6 million customers in six mid-Atlantic and Midwestern states. FirstEnergy also owns and operates one of the nation's largest transmission systems with more than 24,500 miles of lines.

Contact
76 South Main Street
Akron, OH, 44308
T +1 800 736-3402
Sector Utilities
Industry Utilities - Regulated Electric
Most Recent Earnings Dec 31, 2020
Fiscal Year End Dec 31, 2019
Stock Type Distressed
Employees 12,153

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