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FE

FirstEnergy Corporation

NYSE: FE · UTILITIES · UTILITIES - REGULATED ELECTRIC

$48.94
-1.29% today

Updated 2026-04-29

Market cap
$28.31B
P/E ratio
26.60
P/S ratio
1.90x
EPS (TTM)
$1.84
Dividend yield
—
52W range
$38 – $52
Volume
4.4M
OverviewPrice TargetsFinancialsValuationInsidersEarnings

FirstEnergy Corporation (FE) Financial Forecast & Price Target 2030

Research-backed projections from analyst consensus, management guidance, and sector analysis.

Price target summary

Current
$48.94
Consensus
$49.71
+1.57%
2030 Target
$369.43
+654.86%
DCF
$38.72
-23.79% MoS
15 analysts:
8 Buy6 Hold0 Sell

Management guidance

FirstEnergy announced a 5-year spending plan of $36B (30% increase from prior plan) focused on transmission infrastructure upgrades and grid modernization. Company affirmed 2026 guidance and provided long-term financial outlook focused on delivering value through strategic capital investments in regulated utility operations. No specific revenue targets for 2026-2030 were disclosed in available guidance.

Sources: Management guidance, analyst consensus, sector analysishigh confidence

Revenue & price projection

Actual revenue Projected revenue Base case Bull to bear range
Bull case (2030)
$615.72
$17.7B Rev × 20x P/S
Base case (2030)
$369.43
$17.7B Rev × 12x P/S
Bear case (2030)
$246.29
$17.7B Rev × 8x P/S

Financial forecast — research-backed

Metric2023202420252026 (E)2027 (E)2028 (E)2029 (E)2030 (E)
Revenue$12.9B$13.5B$15.1B$15.3B$15.9B$16.5B$17.1B$17.7B
Revenue growth—4.7%12.0%2.9%3.8%3.6%3.7%3.7%
EPS$2.57$2.63$2.54$2.81$3.04$3.26$3.49$3.74
P/S ratio———12.0x12.0x12.0x12.0x12.0x
Implied price———$318.12$328.38$343.78$354.04$369.43

Catalysts & risks

Growth catalysts
+ Execution of $36B 5-year capital spending plan on transmission/grid modernization
+ Regulatory approvals for rate recovery on infrastructure investments across multiple state jurisdictions
+ Q1 2026 earnings (April 28, 2026) and ongoing quarterly results showing revenue growth trajectory
+ Clean energy transition investments and electrification tailwinds in service territories
+ Potential resolution of legal/regulatory matters related to prior compliance issues
Key risks
- Jury deadlock in bribery trial of former executives (mistrial declared March 31, 2026); potential retrial outcome uncertain
- Regulatory risk: rate recovery delays or disallowances on capital investments could pressure revenue growth
- Economic slowdown reducing customer electricity demand
- Rising interest rates increasing cost of capital for $36B investment program
- Political/regulatory opposition to rate increases needed to fund transmission investments

Methodology

FirstEnergy Corporation's forward estimates are derived from AI-powered research synthesis combining analyst consensus from 15 Wall Street analysts, management guidance from the latest earnings call, and sector growth forecasts from industry research. Revenue and EPS projections use analyst consensus where available and conservative extrapolation with growth deceleration for outer years. Price targets are calculated using a tiered Price-to-Sales (P/S) methodology, where the P/S multiple is determined by the projected revenue growth rate.

WallStSmart proprietary research model · Not financial advice · Past performance is not indicative of future results · Last researched: April 7, 2026.