Talen Energy (NASDAQ:TLN) Shares Gap Up – Here’s What Happened

Talen Energy Corporation (NASDAQ:TLN) gapped up before the market opened on Wednesday . The stock had previously closed at $314.57, but opened at $331.77. Talen Energy shares last traded at $343.5290, with a volume of 145,924 shares.

Wall Street Analyst Weigh In

Several analysts have weighed in on TLN shares. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Barclays lifted their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research note on Tuesday. Morgan Stanley set a $498.00 price objective on shares of Talen Energy in a research note on Friday, May 1st. Finally, BNP Paribas Exane started coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective for the company. Twelve analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $448.50.

Talen Energy Stock Up 9.0%

The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The firm’s 50 day simple moving average is $340.24 and its two-hundred day simple moving average is $359.87. The firm has a market cap of $15.56 billion, a price-to-earnings ratio of -511.93 and a beta of 1.90.

Hedge Funds Weigh In On Talen Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Talen Energy by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock valued at $1,924,061,000 after buying an additional 117,266 shares in the last quarter. Fred Alger Management LLC raised its position in shares of Talen Energy by 8.4% in the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock valued at $676,247,000 after buying an additional 140,345 shares in the last quarter. Reaves W H & Co. Inc. raised its position in shares of Talen Energy by 7.9% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after buying an additional 111,160 shares in the last quarter. Invesco Ltd. raised its position in shares of Talen Energy by 35.6% in the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after buying an additional 378,357 shares in the last quarter. Finally, State Street Corp raised its position in shares of Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Company Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen’s asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).