FirstEnergy CorpNYSE: FE
Utilities · Electric Utilities
$47.01
-1.08%
Vol: 9.4M
Research Digest
Friday, May 1, 2026
FirstEnergy reaffirms 2026 guidance; proposes $1.8B convertible debt offering
FirstEnergy reported Q1 2026 GAAP earnings of $405M ($0.70/share) with core EPS +7.5% YoY. The company reaffirmed 2026 core EPS guidance of $2.62-$2.82 and outlined $36B capital investment plan through 2030. Proposed $950M and $850M convertible debt offerings to refinance 4% convertible notes due May 1, 2026. Morgan Stanley raised PT to $53, BofA to $52. Consensus Buy rating.
Previous Market Intelligence
13 daysApr 30FirstEnergy reports Q1 2026 core earnings of $0.72 per share (+7.5% YoY) with $4.2B revenue (+10.5%), contracting data center load surges 30% since February.Positive▶
FirstEnergy reported strong Q1 2026 with core earnings of $0.72 per share (up 7.5% YoY) on revenue of $4.2B (up 10.5%). Company reaffirmed 2026 Core Earnings guidance of $2.62-$2.82 per share with CAGR near top end of 6-8% range. Contracted data center demand surged over 30% since February earnings call, with pipeline nearly doubled. Peak system load forecast to rise to 48.5 GW by 2035 (50% increase from current 33.5 GW). Goldman Sachs raised price target reflecting data center growth opportunities. Capital investment plan of $36 billion through 2030 focuses on regulated transmission and contracted generation. Dividend yield stands at 3.8% (29 consecutive years paid).
Apr 29FirstEnergy reports Q1 2026 core EPS $0.72 (+7.5% YoY) on $4.2B revenue (+10.5% YoY); reaffirms full-year guidance; data center opportunity expected Q4.Positive▶
FirstEnergy reported strong Q1 2026 with core EPS of $0.72, up 7.5% YoY, on revenue of $4.2B, up 10.5% YoY. The company invested nearly $1.4B in customer-focused capital consistent with $6B planned 2026 investments and $36B capital plan for 2026-2030. Company reaffirmed 2026 guidance of $2.62-$2.82 core EPS and reaffirmed 6-8% long-term growth. Data center infrastructure application approval expected in Q4, which could increase rate base growth from just over 10% to 11%. Long-term debt increased to $26.33B and interest expense rose 13.2%.
Apr 16FirstEnergy completes $24M Trumbull grid upgrade and expands $28B capital plan with new chief security officer appointmentPositive▶
FirstEnergy completed a nearly three-mile rebuild of the Niles Central-Packard 138-kV transmission line in Trumbull County, Ohio, benefiting over 16,000 customers. The company is investing $28 billion through 2029 in infrastructure modernization and grid hardening with a 15% CAGR in transmission rate base. Recent leadership changes include a new chief security officer appointment and shareholder proposals regarding board governance. FirstEnergy reported 2025 revenue of $14.90 billion (up 12.16% YoY) and earnings of $1.02 billion (up 4.29% YoY). The stock has outperformed with 16.3% returns in the past 90 days and 34.8% annual returns.
Apr 15Barclays raises FirstEnergy price target to $53 on data center demand and $36B capital plan expansion.Positive▶
FirstEnergy announced a 30% expansion of its 2026-2030 capital plan to $36 billion, focusing on transmission and grid reliability investments. The company formed a joint venture that secured approval for Central Ohio projects including 300+ miles of new 765-kilovolt transmission lines. Barclays raised its price target to $53 from $50 on April 7. FirstEnergy also named Jennifer Lawless as VP of Enterprise Learning. The company targets adding 1,200 MW of natural gas generation by 2031.
Apr 14FirstEnergy executing $36B grid modernization plan; analyst price targets range $49-$56 ahead of April 28 Q1 earnings.Neutral▶
FirstEnergy reported full-year 2025 revenue of $14.90B (up 12.16%). The company is executing a $36B grid investment plan focused on infrastructure modernization. Barclays raised price target to $53 from $50, and Morgan Stanley to $54 from $53. No significant overnight news; earnings set for April 28, 2026.
Apr 13FirstEnergy appointed Brian Harrell as security chief amid $36B grid upgrade plan while managing storm restoration affecting 800K+ customers.Positive▶
FirstEnergy appointed former DHS official Brian Harrell to address cyber and physical security threats. Company outlined $36B grid upgrade plan and customer assistance programs. Crews restored power to 96%+ of 800K+ customers affected by recent storms, replacing 600 poles and 225K feet of wire. Barclays raised price target to $53 from $50, Morgan Stanley to $54 from $53. 2026 EPS forecast averages $2.81.
Apr 10FirstEnergy advances $36B grid upgrade plan; Barclays raises price target to $53Positive▶
FirstEnergy announced a $36 billion grid modernization plan through 2030. Barclays maintained Overweight while raising price target to $53. Benefits from surging data center electricity demand.
Apr 9FirstEnergy advances $36B grid modernization plan; benefits from data center electricity demand surgePositive▶
FirstEnergy Corp. outlined a $36 billion grid upgrade plan through 2030 and benefited from 4.3% full-year profitability increase. The company reported 2025 GAAP earnings of $1.02 billion and is positioned to capitalize on surging electricity demand from data center expansion in Pennsylvania and PJM regions with "Buy" analyst consensus.
Apr 8FirstEnergy outlines $36B grid upgrade plan and 4.1% annual revenue growth.Neutral▶
FirstEnergy announced $36B grid upgrade plan, targeting $15.6B revenue by 2028. Morgan Stanley raised PT to $53; Scotiabank to $56. Declared $0.445 quarterly dividend.
Apr 7FirstEnergy reports Q1 2026 earnings April 28; $36B grid investment plan supports data center demand growthPositive▶
FirstEnergy will release Q1 2026 financial results after market close April 28 with earnings call April 29 at 9:00 a.m. EDT. Company outlined $36B grid upgrade plan to support surging electricity demand from data center expansion. Potomac Edison subsidiary filed for regulatory approval of major transmission project in Maryland with construction targeted 2028-2031. Q3 2025 core earnings grew 9% to $0.83/share; full-year revenue grew 12.16% to $14.9B. Deployed $4B+ in capital investments through nine months 2025, increasing full-year plan from $5B to $5.5B.
Apr 6FirstEnergy reports strong Q4 earnings with $36B grid upgrade plan and raised dividendPositive▶
FirstEnergy reported 2025 GAAP earnings of $1.02 billion ($1.77 per share) on revenue of $15.1 billion. Q4 2025 EPS was $0.53 (vs. consensus $0.52) with revenue of $3.80 billion. The company outlined a $36 billion grid upgrade plan and projects 4.1% annual revenue growth targeting $15.6 billion by 2028. FirstEnergy raised its quarterly dividend to $0.465 per share (from $0.45). The company will release Q1 2026 results on April 28 and discuss via conference call on April 29.
Apr 3FirstEnergy restored 97% of 1.1M storm outages in March and benefits from growing data center-driven electricity demand.Positive▶
FirstEnergy responded to major March 2026 storms by restoring power to 97% of 1.1M affected customers. The company is positioned to benefit from surging electricity demand from data center expansion, particularly in Pennsylvania and PJM regions. PJM selected FirstEnergy to modernize transmission equipment with a $36B grid upgrade plan.
Apr 2FirstEnergy Announces Q1 2026 Earnings Date; Grid Upgrade Plan UnderwayNeutral▶
FirstEnergy Corp reported 2025 GAAP earnings of $1.02 billion ($1.77 per basic share) on $15.1 billion revenue. The company outlined a $36 billion grid upgrade plan and recently received approval for a major electric transmission project in central Ohio. Q1 2026 earnings will be released after market close on April 28, with a conference call on April 29 at 9 a.m. EDT. FirstEnergy serves 6+ million customers across six states.
Sector Peers
| Company | Price | Day | 1M | Fwd P/E | Beta | Mkt Cap |
|---|---|---|---|---|---|---|
| FEFIRSTENERGY | $47.01 | -1.08% | -6.9% | 16.1x | 0.59 | $27.5B |
| CEGCONSTELLATION | $308.34 | -1.49% | +13.8% | 22.8x | 1.19 | $113.4B |
| SOSOUTHERN | $97.02 | +0.33% | -0.3% | 19.6x | 0.41 | $109.0B |
| DUKDUKE | $128.89 | -0.51% | -1.4% | 18.1x | 0.45 | $100.8B |
| AEPAMERICAN | $137.20 | +0.06% | +3.6% | 19.9x | 0.57 | $74.5B |
| ETRENTERGY | $116.83 | -0.92% | +2.9% | 23.6x | 0.56 | $54.0B |
Key Fundamentals
RSI (14-Day)
52-Week Range
Moving Averages
Price between 50d and 200d. Testing 50d support.