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

Talen Energy Corporation (NASDAQ:TLN) shares gapped up prior to trading on Tuesday. The stock had previously closed at $331.87, but opened at $349.15. Talen Energy shares last traded at $364.9460, with a volume of 348,433 shares traded.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on TLN. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Jefferies Financial Group reduced their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a report on Monday, July 20th. Wells Fargo & Company raised their price objective on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a research report on Thursday, August 6th. Morgan Stanley boosted their price objective on shares of Talen Energy from $503.00 to $514.00 and gave the company an “overweight” rating in a research note on Friday, September 18th. Finally, Scotiabank increased their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. Eight investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $460.08.

Talen Energy Trading Up 12.8%

The stock has a 50 day moving average of $317.88 and a 200 day moving average of $347.33. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The firm has a market cap of $17.94 billion, a P/E ratio of -89.91 and a beta of 1.82.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The firm had revenue of $959.00 million for the quarter, compared to analysts’ expectations of $832.81 million. As a group, equities research analysts predict that Talen Energy Corporation will post 21.99 EPS for the current year.

Institutional Trading of Talen Energy

A number of institutional investors have recently made changes to their positions in TLN. Oppenheimer Asset Management Inc. purchased a new stake in shares of Talen Energy during the second quarter valued at approximately $4,132,000. Ninepoint Partners LP purchased a new stake in Talen Energy during the 2nd quarter valued at $1,694,000. Tidal Investments LLC boosted its stake in Talen Energy by 84.7% during the 2nd quarter. Tidal Investments LLC now owns 46,686 shares of the utilities provider’s stock valued at $17,940,000 after purchasing an additional 21,406 shares during the last quarter. Silicon Valley Capital Partners bought a new stake in shares of Talen Energy in the 2nd quarter worth $2,386,000. Finally, 180 GPS Investments IC Ltd purchased a new position in shares of Talen Energy in the second quarter worth $8,636,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

About Talen Energy

Talen Energy Corporation (NASDAQ: TLN) is an independent power producer that owns and operates a portfolio of electricity-generation facilities in the United States. The company supplies power and related services to wholesale electricity markets, utilities, commercial customers and other counterparties.

Talen’s generation portfolio includes the Susquehanna nuclear power plant in Pennsylvania, one of the largest nuclear facilities in the country, as well as natural gas-fired and other generating assets.