FE

FirstEnergy Corp.

UtilitiesUtilities - Regulated ElectricNASDAQ

$46.39

+$0.91 (1.96%)today

Conviction

4/ 10

Fair Value$52.69

Upside+13.59%

Signal5.44

Market Cap$29.7B

52W Range$37.58–$52.29

Next EarningsApr 28

Conviction History

Conviction Changes

Mar 18, 2026, 9:06 PM5→4conviction-rescore

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Price History

FAIR VALUE ANALYSISMonte Carlo · 5,000 runs · 52% valid

Fair Value$17.32

Current Price$50.03

Upside / Down-65.4%

P(Undervalued)5.4%

P(20%+ Up)1.9%

P(15%+ Down)89.1%

Fair Value Distribution — percentile bands

5.4% of simulations place fair value above current price

WHAT IS PRICED IN

Revenue-Based Reverse DCF

22.3%/yr

±9.5% · revenue growth to justify current price

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Bull Case

FirstEnergy regulated Ohio utility; rate base growth; transmission investment multi-year program.

Bear Case

Ohio regulatory risk post-bribery settlement overhang; load growth assumptions optimistic.

Updated Apr 7

Research Feed

sec_10kMar 3

Conviction: unchanged

FE 2025 10-K Analysis: Regulated Utility with Strong Rate Base, Significant Regulatory Headwinds

FE is a B+ market cap regulated utility with 6M+ customers, .3B distribution rate base, and .4B transmission rate base. Strong earnings foundation from cost-based regulation, but facing FERC ROE headw...