Talen Energy (NASDAQ:TLN) Trading Down 7.1% Following Analyst Downgrade

Shares of Talen Energy Corporation (NASDAQ:TLN) traded down 7.1% during trading 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 changed hands during mid-day trading, a decline of 75% from the average session volume of 871,525 shares. The stock had previously closed at $340.07.

TLN has been the topic of a number of other research reports. Morgan Stanley set a $474.00 price objective on shares of Talen Energy in a research note on Friday, February 20th. Weiss Ratings downgraded Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. BNP Paribas Exane assumed coverage on Talen Energy in a research report on Wednesday. They set an “outperform” rating and a $548.00 price objective on the stock. Barclays dropped their price target on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Twelve 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. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $438.17.

Institutional Trading of Talen Energy

Institutional investors and hedge funds have recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake 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 purchasing an additional 689 shares in the last quarter. Hsbc Holdings PLC grew its stake in Talen Energy by 2,452.5% in the fourth quarter. Hsbc Holdings PLC now owns 24,249 shares of the utilities provider’s stock worth $9,192,000 after purchasing an additional 23,299 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Talen Energy in the 4th quarter valued at approximately $9,830,000. Caitong International Asset Management Co. Ltd increased its stake in Talen Energy by 1,825.0% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 154 shares of the utilities provider’s stock valued at $58,000 after purchasing an additional 146 shares during the last quarter. Finally, Mariner Investment Group LLC bought a new position in Talen Energy in the fourth quarter worth about $1,874,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Down 7.1%

The stock has a 50-day moving average of $356.40 and a 200-day moving average of $379.32. The firm has a market cap of $14.43 billion, a price-to-earnings ratio of -63.91, a price-to-earnings-growth 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.

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).