Analyst Consensus ?
ConsensusHold24 ratings
Bullish1145.8%
Neutral1354.2%
Bearish00.0%
1 unmapped firm rating excluded from the percentages.
FirstEnergy Corp. · FE · FY2026 Q2 · Calendar Q3 2026
FirstEnergy Reaffirms Plan as Data-Center Demand Accelerates
FirstEnergy’s current narrative combines reaffirmed guidance with rising data-center load and transmission opportunities. The evidence supports a growth case based on regulated investment and new capacity, but execution depends on approvals, project delivery and funding.
Reported After market closeNYSEUtilities
$25.88B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.50
Consensus $0.50
EPS surprise
-0.4%
Reported versus consensus
Reported revenue
$3.70B
Consensus $3.51B
Revenue surprise
+5.4%
Reported versus consensus
Market reaction
event-close to next-session close
Stock move
-1.0%
Event window
SPY move
-1.5%
Same window
Abnormal move
+0.5%
Stock minus SPY
Volume
1.4×
Versus trailing sessions
Subsequent drift
-4.9%
Up to 20 sessions
FESPY benchmark
Ask FN2 about FE FY2026 Q2
Transcript, numbers and history already loaded
Why did FE fall 1.0% after missing EPS estimates in FY2026 Q2?What changed in FE's guidance and outlook in FY2026 Q2?Give me the bull and bear case for FE after FY2026 Q2 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the prior-quarter analysis, data-center demand was described as stronger, with contracted load reaching 6.4 GW and another 1.5 GW expected imminently. Management also emphasized a potential Genco structure, additional spending outside the existing plan and upcoming regulatory milestones.
Guidance delta
Management reaffirmed 2026 earnings guidance and the $6 billion capital investment plan; no change was identified.
Key takeaways
- Management said contracted data-center load reached 6.4 GW, with another 1.5 GW expected imminently.
- The company highlighted generation and transmission projects, including the Maidsville Energy Center and participation in the 2026 PJM open-window process.
- Management said transmission growth is expected to compound at 16% through 2030 and identified roughly $400 million of data-center-related spending outside the current plan.
Management priorities
- Advance generation and transmission projects tied to data-center load.
- Progress rate cases and regulatory approvals in the service territory.
- Evaluate generation structures and financing options for incremental capacity.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$43.97Current
$41Low
$49.29Average
$56High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 23, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Morgan Stanley | Overweight | Overweight | Maintain | Sep 18, 2026 |
| Barclays | Overweight | Overweight | Maintain | Jul 31, 2026 |
| UBS | Neutral | Neutral | Maintain | Jun 11, 2026 |
| TD Cowen | Buy | Hold | Upgrade | May 15, 2026 |
| Jefferies | Hold | Hold | Maintain | Apr 21, 2026 |
| JP Morgan | Neutral | Neutral | Maintain | Mar 12, 2026 |
| Scotiabank | Sector Outperform | Sector Outperform | Maintain | Feb 19, 2026 |
| Wolfe Research | Outperform | Peer Perform | Upgrade | Jan 27, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Jan 20, 2026 |
| Mizuho | Neutral | Neutral | Maintain | Oct 24, 2025 |
| Keybanc | Overweight | Downgrade | Oct 15, 2025 | |
| Evercore ISI Group | Outperform | Outperform | Maintain | Apr 28, 2025 |
| B of A Securities | Neutral | Underperform | Upgrade | Apr 23, 2025 |
| Guggenheim | Buy | Buy | Maintain | Apr 7, 2025 |
| Seaport Global | Neutral | Buy | Downgrade | Oct 31, 2024 |
| Argus Research | Buy | Hold | Upgrade | Sep 20, 2024 |
| RBC Capital | Outperform | Outperform | Maintain | Sep 6, 2023 |
| Citigroup | Neutral | Neutral | Maintain | Jan 16, 2020 |
| Bank of America | Neutral | Buy | Downgrade | Oct 24, 2019 |
| Deutsche Bank | Hold | Hold | Maintain | Jul 31, 2017 |
| Goldman Sachs | Neutral | Sell | Upgrade | Jan 17, 2017 |
| BGC Financial | Buy | Hold | Upgrade | Aug 6, 2014 |
| Credit Suisse | Neutral | Outperform | Downgrade | May 28, 2013 |
| BMO Capital | Market Perform | Market Perform | Maintain | May 8, 2013 |
| ISI Group | Hold | Hold | Maintain | Dec 14, 2012 |
Named analyst price targets
Upside is calculated against the persisted current price $43.96. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Barclays | Analyst unavailable | $54 | $48.71 | +22.8% | Jul 31, 2026 |
| Barclays | Nicholas Campanella | $55 | $48.54 | +25.1% | Jul 20, 2026 |
| Morgan Stanley | Analyst unavailable | $52 | $47.66 | +18.3% | Jun 24, 2026 |
| UBS | William Appicelli | $51 | $46.87 | +16.0% | Jun 11, 2026 |
| New Street | Analyst unavailable | $52 | $48.94 | +18.3% | Apr 21, 2026 |
| Wells Fargo | Shahriar Pourreza | $55 | $49.45 | +25.1% | Apr 21, 2026 |
| Scotiabank | Analyst unavailable | $56 | $49.37 | +27.4% | Feb 19, 2026 |
| Mizuho Securities | Anthony Crowdell | $51 | $48.94 | +16.0% | Feb 19, 2026 |
| Wolfe Research | Analyst unavailable | $50 | $46.77 | +13.7% | Jan 27, 2026 |
| Barclays | Analyst unavailable | $50 | $47.37 | +13.7% | Jan 22, 2026 |
| UBS | Analyst unavailable | $46 | $44.03 | +4.6% | Dec 17, 2025 |
| Wells Fargo | Shahriar Pourreza | $54 | $46.44 | +22.8% | Oct 27, 2025 |
| UBS | Analyst unavailable | $50 | $46.52 | +13.7% | Oct 24, 2025 |
| Mizuho Securities | Analyst unavailable | $50 | $46.68 | +13.7% | Oct 24, 2025 |
| Jefferies | Julien Dumoulin-Smith | $47 | $46.78 | +6.9% | Oct 21, 2025 |
| Morgan Stanley | David Arcaro | $50 | $47.1 | +13.7% | Oct 21, 2025 |
| Scotiabank | Analyst unavailable | $49 | $47.1 | +11.5% | Oct 8, 2025 |
| Barclays | Analyst unavailable | $49 | $43.64 | +11.5% | Aug 25, 2025 |
| UBS | Analyst unavailable | $44 | $40.51 | +0.1% | Jun 24, 2025 |
| Mizuho Securities | Analyst unavailable | $43 | $42.72 | -2.2% | Apr 28, 2025 |
| Scotiabank | Analyst unavailable | $46 | $42.34 | +4.6% | Apr 25, 2025 |
| Scotiabank | Analyst unavailable | $44 | $38.77 | +0.1% | Feb 28, 2025 |
| KeyBanc | Sophie Karp | $48 | $43.72 | +9.2% | Oct 22, 2024 |
| Jefferies | Julien Dumoulin-Smith | $46 | $42.71 | +4.6% | Oct 14, 2024 |
| Barclays | Nicholas Campanella | $46 | $43.46 | +4.6% | Oct 7, 2024 |
| Morgan Stanley | David Arcaro | $51 | $43.72 | +16.0% | Sep 25, 2024 |
| Argus Research | Marie Ferguson | $50 | $43.64 | +13.7% | Sep 20, 2024 |
| KeyBanc | Sophie Karp | $46 | $44.47 | +4.6% | Sep 16, 2024 |
| Scotiabank | Andrew Weisel | $45 | $44.06 | +2.4% | Sep 12, 2024 |
| Barclays | Nicholas Campanella | $40 | $38.59 | -9.0% | Jul 9, 2024 |
| KeyBanc | Sophie Karp | $43 | $39.66 | -2.2% | Jun 5, 2024 |
| Mizuho Securities | Paul Fremont | $41 | $40.26 | -6.7% | Jun 3, 2024 |
| Morgan Stanley | Analyst unavailable | $47 | $42 | +6.9% | Dec 15, 2022 |
| Morgan Stanley | Analyst unavailable | $45 | $37.8 | +2.4% | Nov 11, 2022 |
| Wells Fargo | Analyst unavailable | $44 | $39.33 | +0.1% | Jul 28, 2022 |
| Morgan Stanley | Analyst unavailable | $49 | $37.58 | +11.5% | Jul 21, 2022 |
| Mizuho Securities | Analyst unavailable | $40 | $41.83 | -9.0% | Jun 7, 2022 |
| Morgan Stanley | Analyst unavailable | $51 | $42.71 | +16.0% | May 23, 2022 |
| Credit Suisse | Analyst unavailable | $51 | $45.44 | +16.0% | Apr 26, 2022 |
| Wells Fargo | Analyst unavailable | $49 | $46.01 | +11.5% | Apr 25, 2022 |
| Morgan Stanley | Analyst unavailable | $53 | $48.44 | +20.6% | Apr 20, 2022 |
| Barclays | Eric Beaumont | $41 | $37.32 | -6.7% | Nov 30, 2021 |
| Goldman Sachs | Michael Lapides | $46 | $35.43 | +4.6% | Apr 27, 2021 |
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Start freeCompany context
Snapshot as of publicationFirstEnergy Corp. is an American utility company that, through its subsidiaries, provides comprehensive electricity services, encompassing generation, transmission, and distribution throughout the United States. Its operations are structured into Regulated Distribution and Regulated Transmission segments. The company leverages a diverse portfolio of power sources, operating facilities that produce electricity from coal, nuclear, hydroelectric, natural gas, wind, and solar technologies. Its vast infrastructure includes 24,074 circuit miles of overhead and underground transmission lines, complemented by an extensive electric distribution network featuring 273,295 miles of overhead pole lines and underground conduits for primary, secondary, and street lighting circuits. FirstEnergy serves approximately 6 million customers across six states: Ohio, Pennsylvania, West Virginia, Maryland, New Jersey, and New York. The corporation was established in 1996 and is based in Akron, Ohio.
Historical context
All FE earningsLatest beats and misses
Who reports nextBeat on EPS
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
- ORCLFY2027 Q1 · September 10, 2026+10.3% EPS-1.7% move
Get the FE recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-07-29T22:06:57.371657+00:00
- FN2 earnings calendar · 2026-09-02T01:23:14.593608+00:00
- Polygon adjusted daily market bars · 2026-09-23T17:21:02.179854+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-23T17:21:02.177137+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-23. For educational purposes only; not investment advice.