Talen Energy (NASDAQ:TLN) Shares Down 7.1% After Analyst Downgrade

Shares of Talen Energy Corporation (NASDAQ:TLN) traded down 7.1% on Friday after JPMorgan Chase & Co. lowered their price target on the stock from $448.00 to $421.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Talen Energy traded as low as $314.23 and last traded at $315.7940. 221,663 shares were traded during trading, a decline of 75% from the average session volume of 871,525 shares. The stock had previously closed at $340.07.

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

Hedge Funds Weigh In On Talen Energy

Large investors have recently modified their holdings of the business. Daiwa Securities Group Inc. lifted its holdings in shares of Talen Energy by 5.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 671 shares of the utilities provider’s stock worth $252,000 after purchasing an additional 36 shares in the last quarter. Compound Planning Inc. grew its position 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 purchasing an additional 38 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in Talen Energy by 0.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 10,223 shares of the utilities provider’s stock valued at $3,832,000 after purchasing an additional 39 shares in the last quarter. Berbice Capital Management LLC increased its stake in Talen Energy by 19.1% during the 4th quarter. Berbice Capital Management LLC now owns 280 shares of the utilities provider’s stock valued at $105,000 after purchasing an additional 45 shares in the last quarter. Finally, Red Door Wealth Management LLC raised its holdings in Talen Energy by 2.2% during the fourth quarter. Red Door Wealth Management LLC now owns 2,191 shares of the utilities provider’s stock worth $821,000 after buying an additional 47 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

Talen Energy Price Performance

The stock has a market capitalization of $13.84 billion, a P/E ratio of -61.33, a price-to-earnings-growth ratio of 0.43 and a beta of 1.94. The business’s 50 day simple moving average is $355.05 and its two-hundred day simple moving average is $378.82. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20.

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).