FirstEnergy Corporation (NYSE:FE) is a prominent player in the energy sector, focusing on electricity generation, transmission, and distribution. The company is known for its commitment to modernizing the electric grid and enhancing service reliability. FirstEnergy competes with other major utilities in the U.S., striving to meet the growing energy demands efficiently.
On October 8, 2025, Scotiabank maintained its "Outperform" rating for FirstEnergy, with the stock priced at $46.95. This positive outlook is supported by FirstEnergy's ambitious $28 billion grid modernization plan, part of its Energize365 platform. The plan aims to improve grid reliability and efficiency from 2025 to 2029, with a significant $5 billion investment in 2025 alone.
Scotiabank also raised FirstEnergy's price target from $46 to $49, reflecting confidence in the company's growth prospects. FirstEnergy's focus on capitalizing on the rising demand from data centers is a key driver. The 2025-2029 plan accounts for 2.7 gigawatts of active or contracted demand from this sector, which is expected to boost performance.
Despite potential challenges like regulatory risks and seasonal factors, FirstEnergy is well-positioned to meet electricity demands. The company's efforts to strengthen its transmission and renewable generation assets are crucial in navigating these challenges. This strategic positioning supports Scotiabank's optimistic outlook for the stock.
Currently, FirstEnergy's stock is priced at $46.87, showing a slight change of $0.46, or approximately 0.99%. The stock has fluctuated between $46.46 and $47.35 today, with a market capitalization of about $27.06 billion. The trading volume stands at 2,676,136 shares, indicating active investor interest.
