FirstEnergy Corporation

FirstEnergy Corporation

FirstEnergy Corporation

Overview
Date Founded

1996

Headquarters

76 SOUTH MAIN STREET, AKRON, OH, 44308

Type of Company

Public

Employees (Worldwide)

12.5K

Industries

Power & Utilities
IT Consulting & Services
Other Business & Consulting Services
Alternative Energy

Company Description

FirstEnergy (NYSE: FE) is a diversified energy company dedicated to safety, reliability and operational excellence. Headquartered in Akron, Ohio, FirstEnergy includes one of the nation's largest investor-owned electric systems and a diverse generating fleet with a total capacity of more than 20,000 megawatts.

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Executives & Employees

President & Chief Executive Officer

President & Chief Executive Officer

President & Chief Nuclear Officer

Executive Director, Emerging Technologies Program

Executive Director, Transmission Programs

Chief Financial Officer & Senior Vice President

Senior Vice President & General Counsel

Vice President, Deputy General Counsel, Corporate Secretary & Chief Ethics Officer, FirstEnergy Service Company

Chief Risk Officer & Vice President

Chief Information Officer

Board of Directors

Former Managing Partner, North East Ohio Offices at Ernst & Young LLP

Chairman of the Board & Chief Executive Officer at Jacobs Engineering Group, Inc.

CBA Dean's Office Executive in Residence at University of Akron

Director & Vice President at Emerging Issues Policy Forum, Inc.

President at Anderson Moore Construction Corp.

Former President, Chief Executive Officer & Director at Trinseo LLC

Former President & Chief Executive Officer at Quanta Services, Inc.

Former Secretary, Senior Vice President & General Counsel at The Hershey Co.

President & Chief Executive Officer at FirstEnergy Corporation

Former President & Chief Executive Officer at Ontario Power Generation, Inc.

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FirstEnergy Corporation
Owners & Shareholders
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Zimmer seeks to achieve the clients' investment objectives primarily through individual security selection based on fundamental research and analysis. Their clients invest primarily in equity securities of electric and gas utilities, integrated utilities, water utilities, telecommunication companies, independent power producers and pipelines, exploration and production companies, oilfield services companies, renewable energy companies, and more broadly in energy and infrastructure-related industries.

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EMC employs a multi-strategy trading approach that encompasses a broad range of strategies, including, without limitation, performing debt, distressed securities, hedge/arbitrage positions (including event arbitrage, related securities arbitrage, convertible arbitrage, commodities trading, and fixed income arbitrage trading), equity-oriented positions, basis trading, portfolio volatility protection positions, and real-estate related positions. The firm generally trades or invests in a wide variety of financial instruments, including, without limitation, stocks, bonds, swaps, options, futures, forwards, swaptions, private equity, and structured credit products, including MBS, ABS, CDOs and correlation products. Their trading mandates are extremely broad, and encompass virtually every type of asset, investment interest, security or property (real or personal) which can be traded or purchased. EMC is an activist firm and is included in the SharkWatch50 as one the 50 most prominent activist investors.

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Renaissance Technologies LLC is an investment management company dedicated to producing superior returns for its clients and employees by adhering to mathematical and statistical methods.

Recent Transactions
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ArcLight Capital Holdings, LLC purchases Firstenergy Generation LLC /Bayshore Facility from FirstEnergy Corporation

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Dynegy, Harbor Hydro Holdings LLC purchase Firstenergy Corp. /11 Hydroelectric Power Stations Ops from FirstEnergy Corporation

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FirstEnergy Corporation purchases Allegheny Energy, Inc.

Transaction Clients
Investment Advisor

Advised on True Energy, Inc. purchases Meridian Energy Corp.

Investment Advisor

Advised on Progress Energy Ltd. purchases Cequel Energy, Inc.

Investment Advisor

Advised on Highpine Oil & Gas Ltd. purchases Vaquero Energy Ltd. resulting in a new company Daylight Resources Trust

Insider Transactions
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Transaction Advisors
Selling Group Member

Advised onFirstEnergy Corporation issued Common Stock

Accountant

Advised onE.ON SE, E.ON UK Plc purchase Aquila Sterling Ltd. from FirstEnergy Corporation

Legal Advisor

Advised onFirstEnergy Corporation purchases Allegheny Energy, Inc.

Legal Advisor

Advised onFirstEnergy Corporation purchases Allegheny Energy, Inc.

Legal Advisor

Advised onFirstEnergy Corporation purchases Allegheny Energy, Inc.

Legal Advisor

Advised onDynegy, Harbor Hydro Holdings LLC purchase Firstenergy Corp. /11 Hydroelectric Power Stations Ops from FirstEnergy Corporation

Advisors & Consultants
Legal Advisor

Partner at Jones Day

Advisor

Partner at Centerview Partners LLC

Legal Advisor

Partner at Davis Wright Tremaine LLP

Clients

SIMEC has sought to maintain a conservative financial profile, reinvesting 100 percent of profits in steel industry-related projects, and has pursued a low debt and aggressive expansion policy, which has assured the company a healthy financial situation and solid positioning. Since 2001, has acquired companies that have established Simec's as a leading producer of special steels in Mexico and the United States, as well as in the rebar, merchant and structural shapes in Mexico. Due to our capacity to generate cash flow and the prepayment of debts with our own operating resources, SIMEC has maintained one of the strongest capital structures in the industry, as well as solid liquidity and financial ratios, since it was acquired by the present administration in 2001, up to today.

ERM Power Ltd. is an energy company, which engages in the electricity generation and distribution business. It operates through the following segments: Business Energy Australia, Business Energy US, Generation Assets, and Other. The Business Energy Australia segment involves in the electricity sales to business customers in Australia. The Business Energy US segment includes electricity sales to business and residential customers in the United States of America. The Generation Assets segment offers delivery of power generation solutions, from the initial concept through development and operations. The Other segment comprises of gas, metering, data analytics, lighting solutions, and corporate. The company was founded by Trevor St Baker in 1980 and is headquartered in Brisbane, Australia.

Key Stats and Financials As of 2018
Market Capitalization
$23.5B
Total Enterprise Value
$37.7B
Earnings Per Share
$1.11
Revenue
$11.3B
Total Debt
$19.5B
Total Equity
$6.81B
Net Profit
$913M
EBITDA
$3.5B
EBITDAMargin
31.04%
Enterprise Value Sales
3.35x
Enterprise Value EBITDAOperating
10.79x
TEVNet Income
41.29x
Debt TEV
0.52x
Five Year Compounded Annual Growth Rate Of Revenue
-5.38%
Three Year Compounded Annual Growth Rate Of Revenue
-8.84%
Non-Profit Donations & Grants
Investments
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MYR Group Inc. has been a leader in the electrical construction industry since 1891 and is currently one of the largest contractors serving the transmission and distribution (T&D) sector of the United States electrical utility industry. Our T&D clients include more than 125 electric utilities, cooperatives and municipalities nationwide. MYR Group also provides commercial and industrial (C&I) electrical contracting services to facility owners and general contractors in the Western United States. MYR Group companies offer a broad range of services including complete engineering, procurement and construction (EPC), upgrades, maintenance and repair services. Our companies offer proven safety performance, top-notch construction and pre-construction services, sophisticated project management and controls, and decades of field construction experience. We are capable of handling every aspect of large, fast-track projects in both the T&D and C&I markets. MYR Group companies have extensive experience working with a variety of project delivery methods: Traditional bid-build Construction only Design assist - constructability and estimating support during the design phase Full turnkey engineering-procurement-construction (EPC) of large complete projects MYR Group is currently represented by six subsidiaries, which consistently rank as leaders in the electrical contracting industry: The L.E. Myers Co.; Harlan Electric Company; Hawkeye Construction, Inc.; Sturgeon Electric Company, Inc.; Great Southwestern Construction, Inc. and MYR Transmission Services, Inc. With a broad national presence, skilled workforce, experienced management team, and one of the nation’s largest fleets of specialized transmission and distribution equipment, MYR Group is a powerful partner for success.

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Powerspan Corp. develops and markets proprietary, multi-pollutant control, and carbon dioxide capture technology for electric power plants. Its electro-catalytic oxidation multi-pollutant technology provides high removal of sulfur dioxide (SO2), nitrogen oxides (NOx), oxidized mercury, and fine particulate matter (PM 2.5) from coal-fired power plants. The company was founded by Francis R. Alix, S. Edward Neister and Nathaniel M. Johnson in March 1994 and is headquartered in Portsmouth, NH.

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Perfect Commerce LLC develops cloud-based procurement solutions and sell-side ecommerce software for the public and private market sectors. Its services include implementation, tail spend management, auctions as a service, catalog content, strategic sourcing, and group purchasing. The company was founded in 1994 and is headquartered in Newport News, VA.

Investors
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Thought Stream LLC, part of Haworth, Inc., is an American company located in Holland, MI, that develops a software platform which allows user to share the data with multiple devices. Peter H. Jackson has been the CEO of the firm since 2017.The company says this about itself: Bluescape®, a leading collaboration workspace solution, enables companies to innovate, collaborate and work together more efficiently. Its online white board solution gives dispersed teams a visually-rich, interactive platform to work and share multiple applications, documents, multimedia and web content simultaneously. Users can write, draw and add notes in real-time to work more creatively in and beyond meetings. Founded in 2012, Bluescape is based in San Carlos, California and is a wholly owned subsidiary of Haworth.

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GIC Pte Ltd. operates as a sovereign wealth fund. It invests in the unlisted public and private equity with a focus on health care, financial and business services. The company was founded by Goh Keng Swee in 1981 and is headquartered in Singapore.

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President at Roth Bros, Inc.

Suppliers
Ballard Power Systems Inc. Electrical Products | BURNABY , BC

Ballard Power Systems, Inc. engages in the design, development, manufacture, sale, and service of fuel cell products for a variety of applications. It focuses on power product markets of heavy duty motive, portable power, material handling, and backup power, as well as the delivery of technology solutions. The company was founded on November 12, 2008 and is headquartered in Burnaby, Canada.

Quanta Services, Inc. Power & Utilities | Houston, TX

Quanta Services, Inc. engages in the provision of specialty contracting services, offering infrastructure solutions to the electric power, oil and gas, and communication industries. It also focuses on the design, installation, upgrade, repair, and maintenance of infrastructure within each of the industries it serves. It operates through the Electric Power Infrastructure Services, and Pipeline and Industrial Infrastructure Services segment. The Electric Power Infrastructure Services segment provides network solutions to customers in the electric power industry. The Pipeline and Industrial Infrastructure Services segment offers infrastructure solutions to customers involved in the development and transportation of natural gas, oil and other pipeline products. The company was founded by Kevin D. Miller, Steven P. Colmar, William G. Parkhouse and John R. Colson on August 19, 1997 and is headquartered in Houston, TX.

MYR Group, Inc. Biotechnology | Rolling Meadows, IL

MYR Group Inc. has been a leader in the electrical construction industry since 1891 and is currently one of the largest contractors serving the transmission and distribution (T&D) sector of the United States electrical utility industry. Our T&D clients include more than 125 electric utilities, cooperatives and municipalities nationwide. MYR Group also provides commercial and industrial (C&I) electrical contracting services to facility owners and general contractors in the Western United States. MYR Group companies offer a broad range of services including complete engineering, procurement and construction (EPC), upgrades, maintenance and repair services. Our companies offer proven safety performance, top-notch construction and pre-construction services, sophisticated project management and controls, and decades of field construction experience. We are capable of handling every aspect of large, fast-track projects in both the T&D and C&I markets. MYR Group companies have extensive experience working with a variety of project delivery methods: Traditional bid-build Construction only Design assist - constructability and estimating support during the design phase Full turnkey engineering-procurement-construction (EPC) of large complete projects MYR Group is currently represented by six subsidiaries, which consistently rank as leaders in the electrical contracting industry: The L.E. Myers Co.; Harlan Electric Company; Hawkeye Construction, Inc.; Sturgeon Electric Company, Inc.; Great Southwestern Construction, Inc. and MYR Transmission Services, Inc. With a broad national presence, skilled workforce, experienced management team, and one of the nation’s largest fleets of specialized transmission and distribution equipment, MYR Group is a powerful partner for success.

Competitors
Duke Energy Corp. Power & Utilities - Charlotte, NC

Duke Energy Corp. engages in distribution of natural gas and energy related services. It operates through the following segments: Electric Utilities and Infrastructure, Gas Utilities and Infrastructure, and Commercial Renewables. The Electric Utilities and Infrastructure segment conducts operations primarily through the regulated public utilities of Duke Energy Carolinas, Duke Energy Progress, Duke Energy Florida, Duke Energy Indiana and Duke Energy Ohio. The Gas Utilities and Infrastructure segment focuses on natural gas operations primarily through the regulated public utilities of Piedmont and Duke Energy Ohio. The Commercial Renewables segment acquires, develops, builds, operates, and owns wind and solar renewable generation throughout the continental United States. The company was founded in 1904 and is headquartered in Charlotte, NC.

Public Service Enterprise Group, Inc. Power & Utilities - Newark, NJ

Public Service Enterprise Group, Inc. is a holding company, which engages in the provision of electric and gas services. It operates through the following two segments: Public Service Electric & Gas Co. (PSE&G) and Power. The PSE&G segment engages in the transmission of electricity and distribution of electricity and natural gas. The Power segment wholesales energy, fuel supply, and energy transacting functions. The company's products and services include energy, capacity, ancillary services, and emissions allowances and congestion credits. Public Service Enterprise Group was founded in 1903 and is headquartered in Newark, NJ.

American Electric Power Co., Inc. Power & Utilities - Columbus, OH

American Electric Power Co., Inc. is a public utility holding company that engages in the business of generation, transmission and distribution of electricity. It operates through the following segments: Vertically Integrated Utilities, Transmission & Distribution Utilities, AEP Transmission Holdco and Generation & Marketing. The Vertically Integrated Utilities segment engages in the generation, transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries. The Transmission & Distribution Utilities segment engages in the business of transmission and distribution of electricity for sale to retail and wholesale customers through assets owned and operated by its subsidiaries. The AEP Transmission Holdco segment engages in the development, construction and operation of transmission facilities through investments in its wholly-owned transmission subsidiaries and joint ventures. The Generation & Marketing segment engages in non-regulated generation and marketing, risk management, and retail activities. The company was founded on December 20, 1906 and is headquartered in Columbus, OH.

Awards & Honors
Rank #188
2016
Fortune Magazine - Fortune 1000 Companies
Sponsored by Fortune Magazine
Rank #188
2016
Fortune Magazine - Fortune 500 Companies
Sponsored by Fortune Magazine
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