JPMorgan Chase & Co. Has Lowered Expectations for Talen Energy (NASDAQ:TLN) Stock Price

Talen Energy (NASDAQ:TLN) had its price target lowered by analysts at JPMorgan Chase & Co. from $448.00 to $421.00 in a report released on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 38.96% from the stock’s previous close.

Other analysts have also issued research reports about the stock. BNP Paribas Exane started coverage on shares of Talen Energy in a research report on Wednesday. They issued an “outperform” rating and a $548.00 target price on the stock. Weiss Ratings downgraded Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. Wells Fargo & Company boosted their price objective on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Morgan Stanley set a $474.00 target price on Talen Energy in a report on Friday, February 20th. Finally, Barclays dropped their target price on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Twelve investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Talen Energy presently has an average rating of “Moderate Buy” and an average price target of $438.17.

Talen Energy Trading Down 10.9%

TLN opened at $302.97 on Thursday. The company has a market cap of $13.84 billion, a P/E ratio of -61.33, a PEG ratio of 0.49 and a beta of 1.94. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. The company’s 50 day moving average is $355.05 and its 200-day moving average is $378.80. Talen Energy has a 1-year low of $162.31 and a 1-year high of $451.28.

Institutional Trading of Talen Energy

A number of institutional investors and hedge funds have recently bought and sold shares of TLN. State Street Corp lifted its holdings in Talen Energy by 88.2% during 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 bought a new stake in shares of Talen Energy in the 4th quarter valued at about $225,930,000. Invesco Ltd. increased its stake in shares of Talen Energy by 77.5% in the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after buying an additional 464,014 shares during the period. Sachem Head Capital Management LP increased its stake in shares of Talen Energy by 72.4% in the fourth quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock valued at $374,840,000 after buying an additional 420,000 shares during the period. Finally, Deltroit Asset Management UK LLP bought a new position in shares of Talen Energy during the fourth quarter worth about $103,081,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

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).