FirstEnergy In The News On At Least Three Fronts; Shares Slightly Higher

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FirstEnergy Corp. ( FE ) today announced plans to construct a new state-of-the-art transmission control center in Akron. The highly secure facility will be built at the company's West Akron Complex, an existing 150-acre site that already houses an Ohio Edison service center, a FirstEnergy call center, and a large office building where several company subsidiaries are based.

Groundbreaking for the 70,000-square-foot facility is expected to occur in the spring of 2013, with planned completion of construction by the end of the year. The new facility is expected to cost approximately $45 million.

Meanwhile, FE reportedly had its target price cut by Jefferies Group to $42.50 in a report released on Tuesday. Jefferies Group currently has a Hold rating on the stock.

And FirstEnergy Nuclear Operating Company (FENOC), a subsidiary of FirstEnergy has announced that Peter P. Sena III, current president and chief operating officer, has been elected president and chief nuclear officer of FENOC. This was just one of the leadership changes announced.

FE shares are up 0.2% at $41.87, and have traded in the range of $41.74-$42.10 in today's session.



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This article appears in: Investing , Commodities

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