Talen Energy (NASDAQ:TLN) Price Target Cut to $421.00 by Analysts at JPMorgan Chase & Co.

Talen Energy (NASDAQ:TLN) had its price objective reduced by JPMorgan Chase & Co. from $448.00 to $421.00 in a research report released on Thursday morning,Benzinga reports. They currently have an overweight rating on the utilities provider’s stock.

Several other brokerages have also recently issued reports on TLN. 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 research report on Tuesday, January 20th. BNP Paribas Exane began coverage on shares of Talen Energy in a research report on Wednesday. They issued an “outperform” rating and a $548.00 price target on the stock. Morgan Stanley set a $474.00 price target on shares of Talen Energy in a report on Friday, February 20th. Barclays reduced their price objective on shares of Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Finally, Weiss Ratings downgraded shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a report on Friday, February 27th. 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.com, Talen Energy presently has an average rating of “Moderate Buy” and a consensus price target of $438.17.

Talen Energy Stock Up 0.4%

Talen Energy stock opened at $340.07 on Thursday. Talen Energy has a 52 week low of $162.31 and a 52 week high of $451.28. The stock has a market cap of $15.54 billion, a price-to-earnings ratio of -68.84, a PEG ratio of 0.49 and a beta of 1.94. The company’s 50-day moving average price is $356.40 and its two-hundred day moving average price is $379.32. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares during the period. Norges Bank acquired a new position in shares of Talen Energy in the fourth quarter worth $225,930,000. Invesco Ltd. raised its holdings in shares of Talen Energy by 77.5% during the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after acquiring an additional 464,014 shares in the last quarter. Sachem Head Capital Management LP raised its holdings in shares of Talen Energy by 72.4% during the fourth quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock worth $374,840,000 after acquiring an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP acquired a new stake in Talen Energy during the fourth quarter valued at $103,081,000. 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).