FirstEnergy Corp. (FE), headquartered in Akron, Ohio, generates, transmits, and distributes electricity as well as explores, produces, and distributes natural gas. Valued at $25.5 billion by market cap, the company owns and operates coal-fired, nuclear, hydroelectric, wind, and solar power generating facilities, and provides energy management and other energy related services.
Shares of this electric utility have underperformed the broader market over the past year. FE has gained 7% over this time frame, while the broader S&P 500 Index ($SPX) has rallied nearly 26.9%. In 2026, FE stock is down 1.5%, compared to the SPX’s 9.5% rise on a YTD basis.
Narrowing the focus, FE’s underperformance is also apparent compared to the State Street Utilities Select Sector SPDR ETF (XLU). The exchange-traded fund has gained about 12.2% over the past year. Moreover, the ETF’s 4.6% returns on a YTD basis outshine the stock’s losses over the same time frame.
On Apr. 28, FE shares closed up marginally after reporting its Q1 results. Its adjusted EPS of $0.72 matched Wall Street expectations. The company’s revenue was $4.2 billion, exceeding Wall Street forecasts of $3.9 billion. FE expects full-year adjusted EPS in the range of $2.62 to $2.82.
For the current fiscal year, ending in December, analysts expect FE’s EPS to grow 7.1% to $2.73 on a diluted basis. The company’s earnings surprise history is impressive. It beat or matched the consensus estimate in each of the last four quarters.
Among the 17 analysts covering FE stock, the consensus is a “Moderate Buy.” That’s based on six “Strong Buy” ratings, one “Moderate Buy,” and 10 “Holds.”
This configuration is less bullish than a month ago, with seven analysts suggesting a “Strong Buy.”
On Apr. 30, Argus Research maintained a “Buy” rating on FE, with a price target of $55, implying a potential upside of 24.7% from current levels.
The mean price target of $53.69 represents a 21.7% premium to FE’s current price levels. The Street-high price target of $56 suggests an upside potential of 26.9%.
