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FirstEnergy Corp. (NYSE:FE) is one of the high growth utility stocks to buy according to analysts. On April 30, Goldman Sachs reiterated a Buy rating on FirstEnergy Corp. (NYSE:FE) and set a $54 price target.
The investment bank has touted the company’s outlook following solid first-quarter results that affirmed underlying growth. Earnings increased to $405 million, or $0.70 a share, compared to $360 million, or $0.62 a share, delivered in the same quarter last year. The earnings increase came on the back of revenue soaring to $4.2 billion, up from $3.8 billion in the first quarter of last year.
Additionally, First Energy reiterated its 2026 Core Earnings guidance of between $2.62 and $2.82 per share. The earnings outlook is supported by the Energize365 capital investment plan of $6 billion for distribution infrastructure renewal and grid modernization.
Goldman Sachs remains confident that the company will deliver at the top end of management’s guidance of 6% to 8% earnings-per-share growth through 2030. The investment bank expects data center growth to be the main upside driver, given the company’s already contracted 4.3 gigawatts of demand.
FirstEnergy Corp. (NYSE:FE) is a major U.S. investor-owned electric utility holding company that generates, transmits, and distributes electricity to over 6 million customers. It operates a vast network of 24,000 miles of transmission lines and roughly 269,000 miles of distribution lines, focusing on regulated utility operations and infrastructure modernization.
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