Talen Energy (NASDAQ:TLN) Shares Gap Up – Still a Buy?

Talen Energy Corporation (NASDAQ:TLN) shares gapped up prior to trading on Wednesday . The stock had previously closed at $314.57, but opened at $331.77. Talen Energy shares last traded at $343.5290, with a volume of 145,924 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on TLN. JPMorgan Chase & Co. decreased their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Raymond James Financial reissued an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. Wells Fargo & Company lifted their price objective on shares of Talen Energy from $465.00 to $477.00 and gave the company an “overweight” rating in a research report on Wednesday, May 6th. Barclays lifted their price objective on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Twelve investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $448.50.

Talen Energy Trading Up 9.0%

The business’s 50 day moving average price is $340.24 and its 200-day moving average price is $359.87. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. The company has a market cap of $15.56 billion, a price-to-earnings ratio of -511.93 and a beta of 1.90.

Institutional Trading of Talen Energy

Hedge funds have recently modified their holdings of the stock. Flagship Harbor Advisors LLC acquired a new stake in shares of Talen Energy during the 4th quarter worth about $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 worth $32,000 after buying an additional 64 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in shares of Talen Energy during the 3rd quarter worth about $34,000. Advisory Services Network LLC acquired a new stake in shares of Talen Energy during the 3rd quarter worth about $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 worth $36,000 after buying an additional 90 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

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).