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MarketScreener Homepage  >  Equities  >  Nyse  >  FirstEnergy Corp.    FE

FIRSTENERGY CORP.

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FirstEnergy : Subsidiaries to Sell Three Mile Island Unit 2 for Decommissioning

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10/15/2019 | 05:10pm EST

By Josh Beckerman

FirstEnergy Corp said Three Mile Island's Unit 2 will be sold to an EnergySolutions Inc. unit for decommissioning, which "removes any future nuclear decommissioning obligations from FirstEnergy and is consistent with our strategy of focusing on regulated utility operations."

FirstEnergy units GPU Nuclear Inc., Metropolitan Edison Co., Jersey Central Power & Light Co. and Pennsylvania Electric Co. will transfer the Middletown, Pa., unit to TMI-2 Solutions LLC.

EnergySolutions said in July that it signed a term sheet for the transfer of Unit 2.

If approved by regulators, the transaction is expected to close in the second half of 2020.

Unit 2 was shut down after a partial core meltdown in 1979. Exelon owns Unit 1, which was closed last month.

Write to Josh Beckerman at josh.beckerman@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
EXELON CORPORATION -0.02% 45.36 Delayed Quote.0.58%
FIRSTENERGY CORP. 0.95% 46.87 Delayed Quote.23.65%
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Financials (USD)
Sales 2019 11 481 M
EBIT 2019 2 576 M
Net income 2019 1 340 M
Debt 2019 20 650 M
Yield 2019 3,24%
P/E ratio 2019 19,6x
P/E ratio 2020 18,8x
EV / Sales2019 4,00x
EV / Sales2020 4,02x
Capitalization 25 324 M
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Technical analysis trends FIRSTENERGY CORP.
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Mean consensus OUTPERFORM
Number of Analysts 18
Average target price 50,12  $
Last Close Price 46,87  $
Spread / Highest target 19,5%
Spread / Average Target 6,93%
Spread / Lowest Target -8,26%
EPS Revisions
Managers
NameTitle
Charles E. Jones President, Chief Executive Officer & Director
Donald T. Misheff Chairman
Steven E. Strah Chief Financial Officer & Senior Vice President
Samuel Pierre-Louis Vice President-Information Technology
Bennett L. Gaines Chief Information Officer
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