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

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 changed hands during mid-day 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 topic of several analyst reports. Raymond James Financial reiterated an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research note on Monday, April 27th. Morgan Stanley reiterated an “overweight” rating and issued a $499.00 target price on shares of Talen Energy in a research note on Thursday, May 21st. JPMorgan Chase & Co. dropped their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Weiss Ratings upgraded shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company increased 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. Twelve investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $448.58.

Talen Energy Stock Down 6.5%

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

Institutional Trading of Talen Energy

Several institutional investors and hedge funds have recently modified their holdings of the company. Ritholtz Wealth Management raised its position in shares of Talen Energy by 3.6% during the 1st quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider’s stock valued at $334,000 after purchasing an additional 36 shares during the period. Daiwa Securities Group Inc. increased its holdings in Talen Energy by 5.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock valued at $252,000 after acquiring an additional 36 shares during the last quarter. Compound Planning Inc. increased its holdings in Talen Energy by 4.7% in the 4th quarter. Compound Planning Inc. now owns 841 shares of the utilities provider’s stock valued at $315,000 after acquiring an additional 38 shares during the last quarter. Northwestern Mutual Investment Management Company LLC grew its stake in shares of Talen Energy by 0.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock worth $3,832,000 after buying an additional 39 shares in the last quarter. Finally, Values First Advisors Inc. grew its stake in shares of Talen Energy by 4.7% in the 1st quarter. Values First Advisors Inc. now owns 979 shares of the utilities provider’s stock worth $312,000 after buying an additional 44 shares in the last quarter. 0.38% of the stock is currently 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).