JPMorgan Chase & Co. Cuts Talen Energy (NASDAQ:TLN) Price Target to $421.00

Talen Energy (NASDAQ:TLN) had its target price dropped by equities research analysts at JPMorgan Chase & Co. from $448.00 to $421.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 23.80% from the company’s previous close.

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

Talen Energy Stock Up 0.4%

TLN stock traded up $1.47 during trading hours on Thursday, hitting $340.07. The company’s stock had a trading volume of 380,931 shares, compared to its average volume of 885,973. The stock has a 50 day moving average price of $356.72 and a two-hundred day moving average price of $379.60. Talen Energy has a 12 month low of $162.31 and a 12 month high of $451.28. The company has a market capitalization of $15.54 billion, a PE ratio of -68.84, a price-to-earnings-growth ratio of 0.47 and a beta of 1.94. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rockefeller Capital Management L.P. grew its holdings in shares of Talen Energy by 9.1% during the fourth quarter. Rockefeller Capital Management L.P. now owns 8,243 shares of the utilities provider’s stock worth $3,090,000 after buying an additional 689 shares in the last quarter. Hsbc Holdings PLC lifted its stake in Talen Energy by 2,452.5% in the 4th quarter. Hsbc Holdings PLC now owns 24,249 shares of the utilities provider’s stock valued at $9,192,000 after acquiring an additional 23,299 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Talen Energy during the 4th quarter worth approximately $9,830,000. Caitong International Asset Management Co. Ltd grew its stake in shares of Talen Energy by 1,825.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 154 shares of the utilities provider’s stock worth $58,000 after acquiring an additional 146 shares in the last quarter. Finally, Mariner Investment Group LLC bought a new position in shares of Talen Energy during the 4th quarter worth approximately $1,874,000. 0.38% of the stock is 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).