FirstEnergy appoints new VP of financial planning

AKRON, Ohio - FirstEnergy Corp. (NYSE: FE), an electric utility company with a market capitalization of $23.8 billion, announced the appointment of Michael Auseré as Vice President, Financial Planning and Analysis, set to take effect on June 2. According to InvestingPro data, FirstEnergy currently appears overvalued compared to its Fair Value estimate. Auseré will oversee the company’s long-range planning and budgeting, contributing to FirstEnergy’s financial and strategic goals, as the company maintains a steady 4.3% dividend yield.

Auseré brings over 25 years of experience in the energy sector to his new role at FirstEnergy. Prior to this appointment, he served as Vice President of Business Development at Eversource Energy, the largest energy supplier in New England. His previous positions include Vice President, Financial Planning and Analysis at Eversource, where he managed budgeting and planning for utilities serving around 4 million customers across Connecticut, Massachusetts, and New Hampshire.

His tenure in the industry also includes financial roles at Energy Future Holdings, previously known as TXU Corp, in Dallas, where he was Vice President, Planning and Analysis, for Luminant, the company’s competitive power generation business. Auseré’s career began in public accounting with PwC, auditing multinational energy corporations and consulting on mergers and security offerings.

Auseré holds a bachelor’s and a master’s degree in accounting from the University of Texas at Austin and is a certified public accountant.

Jon Taylor, Senior Vice President and Chief Financial Officer at FirstEnergy, expressed confidence in Auseré’s ability to drive growth and success for the company, emphasizing his role in developing a financial plan aligned with FirstEnergy’s commitment to maximizing shareholder returns and cash flows while being mindful of customer bills.

FirstEnergy, known for its focus on integrity, safety, reliability, and operational excellence, operates one of the largest investor-owned electric systems in the United States. The company has demonstrated consistent financial performance with an 8% revenue growth in the last twelve months and has maintained dividend payments for 28 consecutive years. It serves over 6 million customers and its transmission subsidiaries manage more than 24,000 miles of transmission lines connecting the Midwest and Mid-Atlantic regions. Want deeper insights? InvestingPro offers comprehensive analysis with additional ProTips and detailed metrics, including the company’s extensive Pro Research Report, available exclusively to subscribers.

This management change comes as part of FirstEnergy’s ongoing efforts to strengthen its leadership team and uphold its financial objectives, with the company maintaining a healthy 69.4% gross profit margin despite operating with significant debt obligations. The information regarding Michael Auseré’s appointment is based on a press release statement from FirstEnergy Corp. For a complete financial health assessment and detailed metrics, including FirstEnergy’s debt structure and profitability analysis, explore the full range of tools available on InvestingPro.

In other recent news, FirstEnergy Corporation reported strong financial results for the first quarter of 2025, with earnings per share (EPS) of $0.67, surpassing analyst expectations of $0.58. Revenue for the quarter was $3.8 billion, exceeding forecasts of $3.44 billion. Following these results, several analyst firms have adjusted their price targets for FirstEnergy. Evercore ISI raised its target to $47, maintaining an Outperform rating, citing potential benefits from legislative changes in Ohio and a diversified supply chain strategy. Meanwhile, Scotiabank increased its target to $46, highlighting FirstEnergy’s regulatory progress and legislative developments that could enhance long-term transparency.

Mizuho Securities also adjusted its outlook, raising the price target to $43 while maintaining a Neutral rating, noting the company’s better-than-expected earnings and ongoing regulatory challenges. The Ohio rate case remains a significant focus, with settlement discussions underway and hearings scheduled. Legislative developments in Ohio could lead to the phase-out of Electric Security Plans, potentially impacting FirstEnergy’s earnings. Despite these challenges, FirstEnergy continues to execute its strategic capital investment plan, aiming for a 6-8% core earnings growth rate through 2029.

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