Talen Energy (NASDAQ:TLN) Stock Price Down 10.1% – Here’s Why

Talen Energy Corporation (NASDAQ:TLN) shares traded down 10.1% during trading on Tuesday . The stock traded as low as $322.00 and last traded at $321.0070. 603,950 shares changed hands during trading, a decline of 25% from the average session volume of 809,943 shares. The stock had previously closed at $356.92.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. BNP Paribas Exane restated an “outperform” rating and set a $560.00 price target on shares of Talen Energy in a research note on Wednesday. Zacks Research raised shares of Talen Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Jefferies Financial Group lowered their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a report on Monday, July 20th. Barclays decreased their price objective on Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research note on Tuesday, July 28th. Finally, Morgan Stanley reissued an “overweight” rating and set a $508.00 price target on shares of Talen Energy in a research report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $477.58.

Talen Energy Price Performance

The stock has a fifty day moving average of $370.62 and a 200 day moving average of $357.70. The stock has a market cap of $15.44 billion, a price-to-earnings ratio of -77.30 and a beta of 1.90. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The business had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. On average, analysts expect that Talen Energy Corporation will post 25.07 EPS for the current fiscal year.

Insider Activity

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Talen Energy

Several hedge funds have recently added to or reduced their stakes in TLN. Amundi purchased a new position in shares of Talen Energy during the 1st quarter valued at about $299,000. AQR Capital Management LLC purchased a new stake in shares of Talen Energy in the first quarter worth about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Talen Energy by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider’s stock worth $1,454,000 after acquiring an additional 761 shares during the period. NewEdge Advisors LLC raised its position in Talen Energy by 17,400.0% during the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider’s stock valued at $175,000 after acquiring an additional 870 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in Talen Energy by 15.3% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider’s stock valued at $9,794,000 after acquiring an additional 6,498 shares during the period. 0.38% of the stock is owned by hedge funds and other institutional investors.

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).