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Home > Fortune 500 Companies > Energy East
Energy East
Energy East is a publicly traded company having a good stock performance result. Energy East is a fortune 500 stock listed company trading under EAS.
Energy East was founded in 1852 and is based in New Gloucester, Maine. EAS is a super regional energy company providing electricity and natural gas to 2.9 million customers in Maine, New York, Massachusetts, New Hampshire and Connecticut. It has headquarters offices in Portland, ME and Albany, NY. Its electric and gas companies include Berkshire Gas, Central Maine Power, Connecticut Natural Gas, Rochester Gas & Electric, and Southern Connecticut Gas For 2004, revenues were 4.75 billion dollars and net income was 229.9 million dollars.
Its primary goal for investing activities is to maintain a reliable energy delivery infrastructure. Its investing activities are funded primarily with internally generated funds. The company plans to invest over 1 billion dollars in its energy delivery infrastructure during the years 2005 through 2007.
2005 was another excellent year in the execution of their strategy to be recognized as one of the best performing energy delivery companies in the country. The earnings were up 11 percent to 1.75 dollars per share and the common stock dividend increased 6 percent.
They expect to invest nearly 2 billion dollars in utility infrastructure over the next 5 years, including approximately 450 million dollars in 2006.
The total of cash flows from operating and investing activities in 2005 was 132 million dollars as compared to 436 million dollars in 2004 and 213 million dollars in 2003. The decrease of 304 million dollars in 2005 and increase of 223 million dollars in 2004 was primarily due to the sale of Ginna in 2004, which resulted in cash proceeds and retention of excess decommissioning funds that totaled 530 million dollars.
Energy East is a respected super regional energy services and delivery company that our customers can depend upon every day. They are a motivated and skilled team of professionals dedicated to creating shareholder value through our focus on profitable growth, operational excellence and strong customer partnerships.
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