Talen Energy (NASDAQ:TLN) Trading Down 7.9% – Here’s What Happened

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

Analyst Ratings Changes

Several brokerages recently commented on TLN. Morgan Stanley set a $498.00 target price on Talen Energy in a report on Friday, May 1st. Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. BNP Paribas Exane initiated coverage on Talen Energy in a report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective for the company. Barclays lowered their target price on Talen Energy from $425.00 to $408.00 and set an “overweight” rating on the stock in a report on Monday, April 20th. Finally, Raymond James Financial reiterated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Twelve analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and a consensus target price of $448.25.

Talen Energy Stock Performance

The stock has a market cap of $15.90 billion, a price-to-earnings ratio of -522.23 and a beta of 1.90. The company’s 50-day simple moving average is $340.43 and its 200-day simple moving average is $362.08. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Institutional Trading of Talen Energy

Several large investors have recently added to or reduced their stakes in TLN. Flagship Harbor Advisors LLC acquired a new stake in Talen Energy during the 4th quarter worth about $27,000. Assetmark Inc. increased its holdings in shares of Talen Energy by 581.8% in the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 64 shares during the period. Neo Ivy Capital Management purchased a new stake in shares of Talen Energy in the third quarter worth approximately $34,000. Advisory Services Network LLC acquired a new stake in shares of Talen Energy during the third quarter worth approximately $35,000. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 90 shares during the period. 0.38% of the stock is 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).