Talen Energy (NASDAQ:TLN) Stock Price Down 7.9% – What’s Next?

Talen Energy Corporation (NASDAQ:TLN)’s stock price traded down 7.9% during mid-day trading on Wednesday . The stock traded as low as $348.92 and last traded at $345.06. 84,786 shares traded hands during trading, a decline of 89% from the average session volume of 795,507 shares. The stock had previously closed at $374.61.

Analyst Ratings Changes

Several brokerages have weighed in on TLN. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Barclays cut their price objective on shares of Talen Energy from $425.00 to $408.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Wells Fargo & Company lifted their target price on shares of Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. JPMorgan Chase & Co. dropped their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research report on Thursday, March 19th. Finally, Morgan Stanley set a $498.00 price target on shares of Talen Energy in a research note on Friday, May 1st. Twelve equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $448.25.

Talen Energy Stock Up 0.5%

The firm has a market capitalization of $16.02 billion, a price-to-earnings ratio of -526.68 and a beta of 1.90. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The business has a fifty day moving average price of $340.61 and a two-hundred day moving average price of $361.46.

Hedge Funds Weigh In On Talen Energy

A number of institutional investors have recently bought and sold shares of the business. Flagship Harbor Advisors LLC purchased a new stake in shares of Talen Energy in the 4th quarter valued at $27,000. Assetmark Inc. raised its holdings in shares of Talen Energy by 581.8% during the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 64 shares during the last quarter. Neo Ivy Capital Management acquired a new position in Talen Energy during the third quarter valued at $34,000. Advisory Services Network LLC acquired a new position in Talen Energy during the third quarter valued at $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 90 shares during the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

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).