FirstEnergy Corporation’s FE expanding regulated base and improving transmission lines are likely to boost its earnings. Also, the company’s efforts to reduce emission levels are expected to be beneficial in the future.The Zacks Consensus Estimate for 2021 earnings is pegged at $2.59 per share, indicating growth of 8.37% from the year-ago reported figure. Also, the consensus mark for current-year revenues stands at $11.01 billion, suggesting 2.08% growth from the prior-year reported number. In the past six months, shares of this presently Zacks Rank #3 (Hold) company have gained 2.9% against the industry’s fall of 0.9%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.Six Months Price PerformanceImage Source: Zacks Investment ResearchWhat’s Driving the Stock?FirstEnergy’s efforts to extend its regulated generation mix lent consistency to its long-term earnings. The utility’s transmission and distribution operations are spread across 65,000 square miles in six states and its rate structure provides stability during an economic crisis. Its investment in strengthening the transmission and distribution lines will enable it to serve its six million customers more efficiently. It expects investment worth up to $2.9 billion in reinforcing its transmission and distribution network during 2021.Owing to an improving economy, demand from the commercial and industrial group rosein the September quarter but due to weather, demand from the residential players (who account for nearly 65% of the company’s distribution revenues) dipped. Nonetheless, significant dependence on residential customers will likely strengthen its prospects in any difficult period.FirstEnergy is focused on lowering its emission levels and undertook initiatives to that end. In November 2020, it updated its target to become net carbon neutral by 2050. Other electric utilities like Alliant Energy Corporation LNT, CMS Energy Corporation CMS and Pinnacle West Capital PNW are also making sustained efforts to expand their renewable portfolio alongside trimming toxic emissions.WoesOn the flip side, FirstEnergy still possesses coal-fired generating plants that are required to comply with the federal, state and local environmental statutes, thereby elevating its costs. Thus, a likely escalation in the compliance costs may affect the company’s profitability. The risks involved in unplanned outages and an unexpected delay in completing the ongoing project remain headwinds. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report FirstEnergy Corporation (FE): Free Stock Analysis Report CMS Energy Corporation (CMS): Free Stock Analysis Report Pinnacle West Capital Corporation (PNW): Free Stock Analysis Report Alliant Energy Corporation (LNT): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research