On Thursday, FirstEnergy Corp (FE) stock saw a decline, ending the day at $39.02 which represents a decrease of $-0.40 or -1.01% from the prior close of $39.42. The stock opened at $39.14 and touched a low of $38.76 during the day, reaching a high of $39.29. The volume of shares traded was 4.90 million exceeding the average volume of 2.80 million.

FirstEnergy downgraded by Wolfe Research, seeing concerns on low-quality pension and coal earnings resurfacing, while the Ohio rate case remains an overhang.

Wolfe Research downgraded FirstEnergy (FE) to Peer Perform from Outperform with a $38-$43 fair value estimate. The firm sees concerns on

The analyst noted that while the transition away from low-quality earnings is generally a positive move, it is concerning if FirstEnergy cannot identify adequate compensatory measures. This issue is particularly pronounced as most of the sector seems set to experience an upward trend in earnings outlooks,