Talen Energy Corp. (TLN) Bonds Rise 2.3% During Trading
An issue of Talen Energy Corp. (NYSE:TLN) bonds rose 2.3% against their face value during trading on Tuesday. The high-yield issue of debt has a 6.5% coupon and is set to mature on June 1, 2025. The bonds in the issue are now trading at $85.50 and were trading at $80.25 last week. Price moves in a company’s bonds in credit markets often predict parallel moves in its stock price.
Several analysts recently commented on the company. Zacks Investment Research raised Talen Energy Corp. from a “hold” rating to a “buy” rating and set a $15.00 target price on the stock in a report on Friday, July 8th. Deutsche Bank AG reissued a “hold” rating on shares of Talen Energy Corp. in a report on Thursday, August 25th. Finally, Barclays PLC lowered Talen Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $14.00 price objective on the stock. in a report on Friday, June 17th. Seven investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and a consensus price target of $13.40.
Shares of Talen Energy Corp. (NYSE:TLN) opened at 13.89 on Wednesday. Talen Energy Corp. has a one year low of $5.73 and a one year high of $14.03. The firm has a 50-day moving average price of $13.83 and a 200 day moving average price of $12.91. The firm’s market capitalization is $1.79 billion.
This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at https://www.americanbankingnews.com/2016/10/12/talen-energy-corp-tln-bonds-rise-2-3-during-trading.html
Talen Energy Corp. (NYSE:TLN) last posted its earnings results on Thursday, August 4th. The company reported ($0.02) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.28) by $0.26. Talen Energy Corp. had a positive return on equity of 2.23% and a negative net margin of 7.14%. The business earned $697 million during the quarter, compared to the consensus estimate of $869.16 million. Talen Energy Corp.’s revenue was down 26.5% compared to the same quarter last year. Equities analysts forecast that Talen Energy Corp. will post $1.18 earnings per share for the current fiscal year.
Several hedge funds have recently bought and sold shares of TLN. Oregon Public Employees Retirement Fund increased its stake in Talen Energy Corp. by 2.1% in the third quarter. Oregon Public Employees Retirement Fund now owns 21,895 shares of the company’s stock valued at $303,000 after buying an additional 443 shares during the last quarter. Mason Street Advisors LLC purchased a new stake in Talen Energy Corp. during the second quarter valued at $397,000. Wolverine Asset Management LLC purchased a new stake in Talen Energy Corp. during the second quarter valued at $1,324,000. Amalgamated Bank purchased a new stake in Talen Energy Corp. during the second quarter valued at $139,000. Finally, Legal & General Group Plc increased its stake in Talen Energy Corp. by 6.6% in the second quarter. Legal & General Group Plc now owns 23,999 shares of the company’s stock valued at $325,000 after buying an additional 1,486 shares during the last quarter. 96.63% of the stock is owned by institutional investors and hedge funds.
Talen Energy Corp. Company Profile
Talen Energy Corporation, through its principal subsidiary, Talen Energy Supply, LLC, is an energy and power generation and marketing company. The Company operates through two segments: East and West. The East segment includes the generating, marketing and trading activities in PJM Interconnection, LLC.
Receive News & Ratings for Talen Energy Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Talen Energy Corp. and related companies with MarketBeat.com's FREE daily email newsletter.