Talen Energy Corp. (TLN) Bonds Trading 2.3% Higher
An issue of Talen Energy Corp. (NYSE:TLN) debt rose 2.3% as a percentage of its face value during trading on Friday. The high-yield debt issue has a 6.5% coupon and is set to mature on June 1, 2025. The debt is now trading at $85.50 and was trading at $80.25 last week. Price moves in a company’s debt in credit markets often anticipate parallel moves in its stock price.
TLN has been the topic of a number of research reports. Zacks Investment Research raised shares of Talen Energy Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research report on Friday, July 8th. Barclays PLC lowered shares of Talen Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock. in a research report on Friday, June 17th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Talen Energy Corp. in a research report on Thursday, August 25th. Seven investment analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $13.40.
Shares of Talen Energy Corp. (NYSE:TLN) opened at 13.87 on Friday. Talen Energy Corp. has a 52-week low of $5.73 and a 52-week high of $14.03. The firm’s 50-day moving average is $13.82 and its 200 day moving average is $12.80. The company’s market capitalization is $1.78 billion.
Talen Energy Corp. (NYSE:TLN) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.28) by $0.26. Talen Energy Corp. had a negative net margin of 7.14% and a positive return on equity of 2.23%. The firm earned $697 million during the quarter, compared to analyst estimates of $869.16 million. The business’s revenue was down 26.5% on a year-over-year basis. On average, equities research analysts anticipate that Talen Energy Corp. will post $1.18 earnings per share for the current year.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its position in Talen Energy Corp. by 21.4% in the second quarter. JPMorgan Chase & Co. now owns 4,267,346 shares of the company’s stock valued at $57,823,000 after buying an additional 751,799 shares during the last quarter. BlackRock Fund Advisors raised its position in Talen Energy Corp. by 4.7% in the second quarter. BlackRock Fund Advisors now owns 3,735,945 shares of the company’s stock valued at $50,622,000 after buying an additional 166,314 shares during the last quarter. Prudential Financial Inc. raised its position in Talen Energy Corp. by 12.6% in the first quarter. Prudential Financial Inc. now owns 2,449,654 shares of the company’s stock valued at $22,047,000 after buying an additional 274,228 shares during the last quarter. State Street Corp raised its position in Talen Energy Corp. by 2.5% in the second quarter. State Street Corp now owns 2,396,351 shares of the company’s stock valued at $32,468,000 after buying an additional 59,104 shares during the last quarter. Finally, CNH Partners LLC purchased a new position in Talen Energy Corp. during the second quarter valued at about $31,035,000. Hedge funds and other institutional investors own 96.63% of the company’s stock.
About Talen Energy Corp.
Talen Energy Corporation, through its principal subsidiary, Talen Energy Supply, LLC, is an energy and power generation and marketing company. The Company operates through two segments: East and West. The East segment includes the generating, marketing and trading activities in PJM Interconnection, LLC.
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