Talen Energy (NASDAQ:TLN) Trading 7% Higher – Here’s Why

Talen Energy Corporation (NASDAQ:TLN)’s stock price was up 7% during mid-day trading on Tuesday . The company traded as high as $404.34 and last traded at $413.0730. Approximately 76,409 shares changed hands during trading, a decline of 90% from the average daily volume of 792,987 shares. The stock had previously closed at $386.21.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on TLN shares. Barclays lifted their price objective on Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. JPMorgan Chase & Co. lowered their price objective 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. Morgan Stanley reiterated an “overweight” rating and set a $499.00 price objective on shares of Talen Energy in a research note on Thursday, May 21st. Raymond James Financial reiterated an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Finally, Wells Fargo & Company upped their target price on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research note on Wednesday, May 6th. Eleven research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $448.58.

Talen Energy Stock Up 7.2%

The company’s fifty day moving average is $358.16 and its 200-day moving average is $358.23. The company has a market capitalization of $18.80 billion, a PE ratio of -617.58 and a beta of 1.81. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Talen Energy during the 4th quarter valued at $27,000. Assetmark Inc. lifted its stake in shares of Talen Energy by 581.8% during the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Neo Ivy Capital Management purchased a new position in shares of Talen Energy during the 3rd quarter valued at $34,000. Advisory Services Network LLC purchased a new position in shares of Talen Energy during the 3rd quarter valued at $35,000. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Talen Energy by 1,500.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 0.38% of the company’s stock.

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).