Talen Energy (NASDAQ:TLN) Trading Up 7% – Time to Buy?

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Morgan Stanley reaffirmed an “overweight” rating and set a $499.00 target price on shares of Talen Energy in a research note on Thursday, May 21st. Barclays raised their target price on shares of Talen Energy from $408.00 to $411.00 and gave the company an “overweight” rating in a research note on Tuesday, May 19th. Wells Fargo & Company raised 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. Finally, JPMorgan Chase & Co. cut their target price on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research note on Thursday, March 19th. Eleven equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and an average target price of $448.58.

Talen Energy Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The business has a 50 day simple moving average of $358.16 and a two-hundred day simple moving average of $358.23. The firm has a market cap of $18.80 billion, a PE ratio of -617.58 and a beta of 1.81.

Institutional Investors Weigh In On Talen Energy

Several hedge funds have recently made changes to their positions in TLN. State Street Corp lifted its holdings in shares of Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after buying an additional 627,467 shares during the period. Norges Bank purchased a new stake in shares of Talen Energy in the 4th quarter worth $225,930,000. Invesco Ltd. lifted its holdings in shares of Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after buying an additional 464,014 shares during the period. Sachem Head Capital Management LP lifted its holdings in shares of Talen Energy by 72.4% in the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock worth $374,840,000 after buying an additional 420,000 shares during the period. Finally, Deltroit Asset Management UK LLP purchased a new stake in shares of Talen Energy in the 4th quarter worth $103,081,000. 0.38% of the stock is currently owned by hedge funds and other 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).