FE- First Energy

[DTEJD1997]

Hey all:

 

Anybody watching/aware of First Energy?  They are the electrical utility with operations in Ohio, Pennsylvania,New Jersey and several other states.

 

It appears earnings are down, but they have a very nice dividend, just over 6%.  They are also trading at near the 52 week low.

 

Of course, there are some risks.  They have a lot of coal fired plants, which are big "NO NO" in this current political climate.  They also have a few nuclear power plants, which could be problematic.

 

If earnings can come back, they appear to be trading for about a 12 P/E, earning about $3/share.

 

If those earnings come through, the dividend is well covered.  I doubt the stock would be trading for $36/share if those earnings of $3 come through.

 

Anybody have any thoughts/insight into this?

 

Thanks!