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

Talen Energy Corporation (NASDAQ:TLN) shares fell 7.1% during mid-day 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 traded 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.

Other analysts have also issued research reports about the stock. Wells Fargo & Company raised their target price on shares of 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 report on Wednesday. They set an “outperform” rating and a $548.00 price target for the company. Weiss Ratings cut Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Barclays cut their price objective on Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, February 11th. Finally, Morgan Stanley set a $474.00 target price on Talen Energy in a report on Friday, February 20th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $438.17.

Institutional Investors Weigh In On Talen Energy

Large investors have recently modified their holdings of the company. State Street Corp lifted its stake in shares of Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after purchasing an additional 627,467 shares during the period. Norges Bank acquired a new stake in Talen Energy during the fourth quarter worth approximately $225,930,000. Invesco Ltd. grew its stake in 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 purchasing an additional 464,014 shares during the period. Sachem Head Capital Management LP increased its holdings in Talen Energy by 72.4% in 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 purchasing an additional 420,000 shares in the last quarter. Finally, Deltroit Asset Management UK LLP bought a new stake in Talen Energy in the fourth quarter worth approximately $103,081,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Stock Performance

The stock has a market capitalization of $13.84 billion, a price-to-earnings ratio of -61.33, a price-to-earnings-growth ratio of 0.49 and a beta of 1.94. The company has a 50 day simple moving average of $355.05 and a 200-day simple moving average of $378.80. The company has a quick ratio of 1.02, a current ratio of 1.28 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).