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How FirstEnergy Is Placed amid Mounting Challenges

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How FirstEnergy Is Placed amid Mounting Challenges

Ohio-based FirstEnergy (FE) is undergoing a transformation that its investors may cheerfully welcome. It’s received an investment from a leading activist investor, it’s asked for state aid to run its struggling power plants, and its riskier competitive subsidiary has filed for bankruptcy. The traditionally competitive utility holding company FirstEnergy, valued at ~$16 billion, has rallied more than 10% year-to-date, significantly beating out broader utilities (XLU) (VPU).