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FirstEnergy Corp. — Intrinsic Value & Fair Price

FE
NYSEUtilitiesRegulated ElectricCIK 0001031296firstenergycorp.comAbout FE
Last close · Oct 16, 202646.19+0.64 (+1.41%)
Market cap$26.7B
Model value · P/E · own history
53.29
FirstEnergy closed at $46.19 — undervalued by 13% vs model.
44.32the model's range62.40

P/E · own history leads for a regulated utility. From its own five-year median P/E applied to its earnings.

Other models
32.09 – 87.96
Wall St. target
47.00 2% below
Below model, 1y
12 of 20 days

Price and model value

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What the marks mean
Daily close

Dividends

Quarterly · as of Oct 16, 2026
Yield, trailing 12 months
3.94%
Past 2 years
low 3.43%high 4.48%
Dividends per share, a year at a time
$1.56Aug ’21$1.56Aug ’22$1.56Aug ’23$1.67Aug ’24$1.74Aug ’25$1.82TTM
Coverage
—
Raised
3 years in a row
Growth, 5 yrs
3.1% a year
Last change
+4.5% · May 2026
Every payment, with ex-dates · latest $0.465, paid Sep 1, 2026

Research on FE

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How it is valued

Valued asRegulated utility
Low/slowing growth (~8% recent)Moderate margins (7% net margin)Strong dividend yieldHighly cyclical earningsHigh leverage (D/E 2.1x)Negative free cash flow
What growth the price implies: the reverse DCF

Key figures

FY2025 · chosen for utilities
P/E
26.2×
EV / EBITDA
12.5×
FCF yield
-3.8%
Dividend yield, TTM
3.94%
Beta
0.42
Cost of capital (WACC)
5.89%
Full financials

Analyst actions

third-party, quoted
10-13New Street · target47.00
10-12Mizuho Securities · target47.00
07-31Barclays · target54.00
05-15TD Cowen · “Buy” from “Hold”upgrade
Ratings, targets and estimates

Comparable companies

by business, not by industry label
1 more company lists FE as a comparable

The weekly

One email a week across every stock we cover: 13F filings, insider trades, earnings and new research. It covers the whole market, not just FE. No account.

About FirstEnergy

FirstEnergy 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.

CEO
Brian X. Tierney
Headquarters
Akron, OH
Employees
11,186
IPO
1997-11-10
Full company profile

Model estimates for research reference only, not investment advice. Every model rests on assumptions that may not match what happens; the formulas are in how we value a stock.