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Feature Article

Rags to Riches: The Never-Ending Utility Story

By Roger S. Conrad on Sep. 9, 2024

In early 1981, General Public Utilities—predecessor company of FirstEnergy Corp (NYSE: FE)—sold for less than $2 a share. The Pennsylvania electric utility faced an uncertain future in the wake of the 1979 nuclear accident at its Three Mile Island Unit 2 reactor. And few would go near the stock, especially the investors who had ridden it down with the incident. Arguably, nuclear power development in the US never recovered from TMI. Those projects that weren’t cancelled faced a thicket of new regulation. That led to years of construction delays, triggering billions of dollars of cost overruns in combination with double-digit inflation and borrowing costs.

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Roger S. Conrad needs no introduction to individual and professional investors, many of whom have profited from his decades of experience uncovering the best dividend-paying stocks for accumulating sustainable wealth. Roger b

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