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.