$FE

West Virginia Public Service Commission members questioned the necessity of the $1.17B MidAtlantic Resiliency Link (MARL) project, a 500-kilovolt transmission line proposed by NextEra Energy Transmission. The project, aimed at supporting data centers in Virginia and reducing grid strain, faces scrutiny over local benefits and potential rate impacts. PJM Interconnection's Sami Abdulsalam defended the project, citing long-range planning and future grid needs.

FirstEnergy reported Q3 2026 GAAP earnings of $0.96 per share and Core Earnings of $0.98 per share, with year-to-date GAAP earnings up 9% from 2025. The company reaffirmed its 2026 Core Earnings guidance of $2.62-$2.82 per share and expects growth near the top of its 6%-8% CAGR range through 2030, supported by a $36 billion capital investment plan.

FirstEnergy announced a $36 billion, five-year plan to modernize its power grid. The company reported Q3 2026 GAAP earnings and reaffirmed its 2026 Core Earnings guidance. CEO Brian Tierney highlighted strong execution and long-term growth prospects. FirstEnergy is expanding generation and transmission, with a focus on meeting growing electricity demand.

Analysts made several calls: Jefferies reiterated Apple as underperform, citing mixed iPhone sales expectations. Barclays upgraded Tesla to overweight, citing M&A opportunities. Morgan Stanley upgraded Lockheed Martin to overweight. Piper Sandler reiterated Nvidia as overweight. Other notable moves include upgrades for Caci, Installed Building Products, Accelevation, and downgrades for Block.

Wall Street analysts issued updates on various companies. Upgrades include Lockheed Martin (LMT) to Overweight, Tesla (TSLA) to Overweight, and Roper Technologies (ROP) to Neutral. Downgrades include Block (SQ) to Equal Weight and Equifax (EFX) to Sector Perform. Initiations include FirstEnergy (FE) with Outperform and Lumentum Holdings (LITE) with Buy. Markets saw mixed movements, with tech earnings in focus and Treasury yields rising.

BMO Capital initiated coverage on FirstEnergy Corp. (NYSE:FE) with an outperform rating and a $50.00 price target, suggesting 8% upside from its current $46.15 share price. The firm believes the stock is undervalued and highlighted growth opportunities in transmission and data-center investments. FirstEnergy reported Q2 earnings that met profit forecasts and exceeded revenue expectations. Analysts have mixed outlooks, with some adjusting price targets and ratings.

FirstEnergy Pennsylvania, serving 2M+ customers, argues current regulations fail to protect consumers who choose alternative energy suppliers, leading to higher bills and service terminations. The company proposes changes, including automatic reversion to default service if customers don't affirmatively renew contracts. Administrative law judges support the changes, but the state utility commission's decision is pending.

Scotiabank selected Entergy (ETR), CenterPoint (CNP), Black Hills (BKH), NextEra (NEE), and FirstEnergy (FE) as top utility stocks, citing strong growth and data center trends. Target prices range from $53 to $99, with potential returns between 13.4% and 27.3%. Favorable weather and increased demand are expected to boost earnings.

Jefferies reduced its price target for FirstEnergy (NYSE:FE) to $46 from $53, citing lower valuation and forecasting Q3 2026 EPS of $0.87, below consensus. The firm expects FY 2026 guidance to narrow to $2.67-$2.77. FirstEnergy's Q2 earnings met profit forecasts and exceeded revenue expectations. HSBC initiated coverage with a buy rating, while Mizuho adjusted its target to $47. Bank of America remains positive on the utilities sector.

HSBC initiated coverage on FirstEnergy (FE) with a buy rating and $50 price target, citing data center growth and 8% annual EPS growth. FE trades at $45.51, near its 52-week low. HSBC forecasts 12% total shareholder return through 2032. FE reported Q2 earnings of $0.50 per share on $3.7B revenue, beating estimates. Mizuho lowered its price target to $47, citing regulatory challenges.