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FE · NYSE · Regulated Electric

FirstEnergy (FE)

Operator of regulated electric distribution, transmission, and generation systems across six states.

$45.20
vs last close+0.23 (+0.51%)
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FirstEnergy Corp.FE
Utilities

Operates regulated electric distribution utilities across the Midwest and Mid-Atlantic, plus high-voltage transmission and regulated generation. Revenue comes from retail electric service and transmission charges, while returns depend on state and federal rate recovery for grid investment.

Distributes electricity through regulated utilities in Ohio, Pennsylvania, New Jersey, West Virginia, Maryland, and New York, while transmission companies move power across the Midwest and Mid-Atlantic. Operations are organized as Distribution, Integrated, and Stand-Alone Transmission; the Integrated business also includes regulated generation centered in West Virginia.

Earns revenue from customer electric service and transmission charges, with grid investment expanding the regulated asset base under the Energize365 program. The portfolio serves residential, commercial, and industrial customers and combines state-regulated distribution with FERC-regulated transmission.

Execution centers on upgrading local networks, strengthening high-voltage infrastructure, restoring service after severe weather, and connecting new demand. Returns and cash flows depend on rate-case outcomes, formula-rate updates, cost recovery allowed by state commissions and FERC, electricity demand, weather, and reliable operation of a large multistate grid.

Company facts

CEOBrian X. Tierney
ListedNov 10, 1997
ExchangeNYSE
HeadquartersAkron, OH
CountryUnited States
Employees11,186
CIK0001031296
ISINUS3379321074

Market cap$26.02B
EPS (ttm)$1.88
P/E (ttm)23.98
ROE8.5%
P/B2.01
P/S1.64
Dividend yieldDiv yield4.05%
Beta−0.08vs XLU 0.76

Price target$52.00+15.6%Average of 28 analysts
ConsensusHold16 of 28 analysts
Ratings

Target rangeAs of Sep 21, 2026

Latest analyst notes

DateFirmActionPriorCurrent
Jul 31, 2026BarclaysReiterate
Rating: —Target: $55
Rating: OverweightTarget: $54
Jul 20, 2026BarclaysReiterate
Rating: —Target: $50
Rating: OverweightTarget: $55
Jun 24, 2026Morgan StanleyReiterate
Rating: —Target: $50
Rating: OverweightTarget: $52
Jun 11, 2026UBSReiterate
Rating: —Target: $46
Rating: NeutralTarget: $51
May 15, 2026TD CowenUpgrade
Rating: Hold
Rating: Buy

Next report
Oct 21, 26
in 29 days
EPS estimate
$0.94
Revenue estimate
$4.32B
Fiscal quarter
Q3 FY26

EPSReportedEstimate

Feb '25Apr '25Jul '25Oct '25Feb '26Apr '26Jul '26Oct '26
Reported$0.67$0.67$0.52$0.83$0.53$0.72$0.50Pending
Estimate$0.71$0.61$0.49$0.74$0.54$0.72$0.50$0.94
Surprise−5.5%+10.6%+6.9%+12.0%−2.6%+0.6%−0.4%—

RevenueReportedEstimate

Feb '25Apr '25Jul '25Oct '25Feb '26Apr '26Jul '26Oct '26
Reported$3.18B$3.77B$3.38B$4.15B$3.80B$4.20B$3.70BPending
Estimate$3.40B$3.52B$3.34B$3.89B$3.07B$3.80B$3.51B$4.32B
Surprise−6.7%+6.8%+1.3%+6.7%+23.9%+10.5%+5.4%—
Estimate$0.94
ReportedDue Oct 21, 2026
Estimate$4.32B
ReportedDue Oct 21, 2026
View details

Debt to equity224.10%
Current ratio54.10%

ProfitabilityRevenueNet incomeNet margin

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Revenue$3.73B$3.18B$3.77B$3.38B$4.15B$3.80B$4.20B$3.68B
Net income$419.0M$261.0M$360.0M$268.0M$441.0M−$49.0M$405.0M$289.0M
Net margin11.2%8.2%9.6%7.9%10.6%0.0%9.6%7.9%

GrowthOperating income

Q3 FY24Q4 FY24Q1 FY25Q2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26
Operating income$727.0M$613.0M$754.0M$646.0M$830.0M$603.0M$828.0M$677.0M
YoY growth+9.2%+7.9%+23.2%+52.7%+14.2%−1.6%+9.8%+4.8%

Balance sheet, Jun 30, 2026Cash & short-term investments $63.0M · Total debt $28.98B · Total assets $58.22B · Shareholders' equity $12.94B

Revenue
$3.68B
Operating income
$677.0M
Net income
$289.0M
View details

Dividend yield
4.05%
Next ex-date
Nov 7, 26
estimated · in 46 days
Annual dividend
$1.82
per share
Schedule
Quarterly
4 payments a year

HistoryDividendAnnual yield

Nov '24Feb '25May '25Aug '25Nov '25Feb '26May '26Aug '26
Dividend$0.425$0.425$0.445$0.445$0.445$0.445$0.465$0.465
Annual yield4.09%4.23%4.00%4.01%3.83%3.82%3.98%3.83%
Ex-dateNov 7Feb 7May 7Aug 7Nov 7Feb 6May 7Aug 7
Payment dateDec 1Mar 1Jun 1Sep 1Dec 1Mar 1Jun 1Sep 1
View details

Institutions90.03%520.95M shares
963 holders · as of Jun 30, 2026
Insiders0.20%1.13M shares
10 holders · as of Jul 6, 2026
Strategic holders5.01%28.98M shares
1 holder · as of Apr 14, 2025
Other4.76%27.58M shares
remainder

578.64M company shares as of Aug 31, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing

Top shareholders13F · 13D/G · Form 4

HolderStakeSharesDate
Capital World InvestorsInstitution
13.45%77.82Mas of Jun 30, 2026
BlackRock, Inc.Institution
8.60%49.76Mas of Jun 30, 2026
State Street CorpInstitution
7.02%40.61Mas of Jun 30, 2026
Vanguard Capital Management LLCInstitution
6.03%34.89Mas of Jun 30, 2026
GIC Private LtdStrategic
5.01%28.98Mfiled Apr 14, 2025

Insider tradesForm 4

DateInsiderRoleSharesAvg price
Mar 11, 2026James F. Oneildirector−7,945$50.60
Mar 10, 2026Jon Taylor K.officer: SVP, CFO and Strategy−26,800$50.94
Mar 6, 2026Jason Lisowskiofficer: VP, Controller & CAO−4,373$50.84
View details

  • Exelon

    Nation's largest pure-play T&D utility, adjacent in PA, MD, and NJ.

  • American Electric Power

    Ohio territory peer, Valley Link JV partner, and top U.S. transmission owner.

  • Public Service Enterprise Group

    NJ's dominant electric utility, sharing NJBPU and PJM zone with FE's JCP&L.

  • PPL

    PA's central/eastern T&D utility adjacent to FE's Met-Ed and Penelec zones.

  • Dominion Energy

    Valley Link JV co-developer; Appalachian corridor transmission peer in WV/VA/MD.

Compare

CompanyPriceChange
FirstEnergy$45.20+0.51%$26.02B24.015.71.6+9.5%
Exelon$42.07+0.20%$43.25B15.314.11.7+10.0%
American Electric Power$120.73+0.58%$65.34B20.818.22.9+7.0%
Public Service Enterprise Group$69.59+0.40%$34.54B17.215.52.8−9.0%
PPL$33.21+0.47%$24.87B19.616.02.6+4.3%
Dominion Energy$62.99+0.26%$55.25B21.816.33.0+17.6%
Median19.616.02.8+7.0%