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FirstEnergy Corp (NYSE:).’s shares ended at $36.08 on Tuesday, marking a 0.22% decline and interrupting the company’s two-day winning streak. This dip in FirstEnergy’s stock price occurred amidst a mixed market day, with the Dow Jones marginally rising while the slightly fell.
The drop in share price left FirstEnergy with a $7.23 deficit from its one-year high reached on January 17, 2023. The utility giant outperformed several of its peers including NextEra Energy Inc (NYSE:)., Southern Co (NYSE:)., and Dominion Energy (NYSE:) Inc., which recorded losses of 0.39%, 0.58%, and 0.73% respectively.
Trading volume for FirstEnergy was recorded at 2.5 million on Tuesday, falling short of its 50-day average volume by 1.2 million shares. The company’s average daily volume, as per InvestingPro data, stands at 3.52 million.
FirstEnergy’s market capitalization, adjusted for the recent numbers, is $20.69 billion, according to InvestingPro data. The company has a P/E ratio of 44.96, which indicates it is trading at a high earnings multiple. This is a noteworthy point for investors as it is one of the InvestingPro Tips that FirstEnergy operates with a significant debt burden, yet analysts predict the company will be profitable this year.
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