An issue of Talen Energy Corp. (NYSE:TLN) debt rose 0.8% against its face value during trading on Wednesday. The high-yield issue of debt has a 5.125% coupon and will mature on July 15, 2019. The debt is now trading at $95.78 and was trading at $94.50 one week ago. Price moves in a company’s debt in credit markets sometimes predict parallel moves in its stock price.
Several equities analysts recently weighed in on the stock. Zacks Investment Research downgraded shares of Talen Energy Corp. from a “buy” rating to a “hold” rating in a report on Saturday, July 9th. 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 research report on Friday, June 17th. Finally, Deutsche Bank AG restated a “hold” rating on shares of Talen Energy Corp. in a research report on Thursday, August 25th. Seven investment analysts have rated the stock with a hold rating, The stock presently has a consensus rating of “Hold” and a consensus price target of $13.40.
Shares of Talen Energy Corp. (NYSE:TLN) opened at 13.88 on Thursday. The firm has a 50-day moving average price of $13.84 and a 200 day moving average price of $12.92. Talen Energy Corp. has a 52-week low of $5.73 and a 52-week high of $14.03. The stock’s market cap is $1.78 billion.
Talen Energy Corp. (NYSE:TLN) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.28) by $0.26. The company had revenue of $697 million for the quarter, compared to analyst estimates of $869.16 million. Talen Energy Corp. had a positive return on equity of 2.23% and a negative net margin of 7.14%. The company’s revenue for the quarter was down 26.5% on a year-over-year basis. Analysts expect that Talen Energy Corp. will post $1.18 earnings per share for the current year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLN. Capstone Asset Management Co. raised its position in Talen Energy Corp. by 1.6% in the third quarter. Capstone Asset Management Co. now owns 33,437 shares of the company’s stock worth $463,000 after buying an additional 540 shares during the last quarter. Oregon Public Employees Retirement Fund raised its position 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 worth $303,000 after buying an additional 443 shares during the last quarter. Mason Street Advisors LLC bought a new position in Talen Energy Corp. during the second quarter worth about $397,000. Wolverine Asset Management LLC bought a new position in Talen Energy Corp. during the second quarter worth about $1,324,000. Finally, Amalgamated Bank bought a new position in Talen Energy Corp. during the second quarter worth about $139,000. 96.63% of the stock is currently 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.
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