Talen Energy (NASDAQ:TLN) Trading Down 4.4% – Here’s Why

Shares of Talen Energy Corporation (NASDAQ:TLN) dropped 4.4% during mid-day trading on Wednesday . The stock traded as low as $345.05 and last traded at $342.8050. Approximately 42,543 shares were traded during trading, a decline of 95% from the average daily volume of 791,320 shares. The stock had previously closed at $358.74.

Wall Street Analyst Weigh In

TLN has been the subject of several research analyst reports. Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 price target on shares of Talen Energy in a research note on Thursday, May 21st. JPMorgan Chase & Co. dropped their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Raymond James Financial reaffirmed an “outperform” rating and set a $457.00 price target on shares of Talen Energy in a research note on Monday, April 27th. Wells Fargo & Company lifted their price target on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 6th. Finally, Barclays lifted their target price on shares of Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Twelve equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

Talen Energy Price Performance

The business’s 50-day simple moving average is $355.35 and its 200-day simple moving average is $358.69. The stock has a market cap of $15.23 billion, a PE ratio of -503.79 and a beta of 1.80. The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32.

Hedge Funds Weigh In On Talen Energy

A number of institutional investors have recently bought and sold shares of TLN. Amundi bought a new position in Talen Energy in the first quarter worth about $299,000. AQR Capital Management LLC purchased a new stake in Talen Energy in the first quarter worth about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Talen Energy by 11.7% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after purchasing an additional 761 shares during the period. NewEdge Advisors LLC grew its holdings in Talen Energy by 17,400.0% in the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock worth $175,000 after purchasing an additional 870 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Talen Energy by 15.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock worth $9,794,000 after buying an additional 6,498 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

About Talen Energy

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).