Talen Energy Corp. (TLN) Bonds Trading 2.3% Higher
An issue of Talen Energy Corp. (NYSE:TLN) bonds rose 2.3% as a percentage of their face value during trading on Friday. The high-yield debt issue has a 6.5% coupon and is set to mature on June 1, 2025. The debt is now trading at $85.50 and was trading at $80.25 last week. Price moves in a company’s bonds in credit markets sometimes anticipate parallel moves in its share price.
A number of analysts have weighed in on TLN shares. Barclays PLC cut shares of Talen Energy Corp. from an “overweight” rating to an “equal weight” rating and set a $14.00 target price on the stock. in a research note on Friday, June 17th. Zacks Investment Research raised shares of Talen Energy Corp. from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Friday, July 8th. Finally, Deutsche Bank AG reissued a “hold” rating on shares of Talen Energy Corp. in a research note on Thursday, August 25th. Seven analysts have rated the stock with a hold rating, Talen Energy Corp. has a consensus rating of “Hold” and an average target price of $13.40.
Talen Energy Corp. (NYSE:TLN) remained flat at $13.87 during trading on Friday. 360,385 shares of the company’s stock were exchanged. The stock’s market capitalization is $1.78 billion. The firm has a 50-day moving average of $13.82 and a 200 day moving average of $12.80. Talen Energy Corp. has a 12 month low of $5.73 and a 12 month high of $14.03.
Talen Energy Corp. (NYSE:TLN) last posted its earnings results on Thursday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.28) by $0.26. Talen Energy Corp. had a negative net margin of 7.14% and a positive return on equity of 2.23%. The business had revenue of $697 million for the quarter, compared to analysts’ expectations of $869.16 million. Talen Energy Corp.’s quarterly revenue was down 26.5% compared to the same quarter last year. On average, analysts expect that Talen Energy Corp. will post $1.18 earnings per share for the current year.
A number of hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC boosted its stake in Talen Energy Corp. by 42.5% in the second quarter. Acrospire Investment Management LLC now owns 7,374 shares of the company’s stock valued at $100,000 after buying an additional 2,198 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Talen Energy Corp. by 313.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,575 shares of the company’s stock valued at $116,000 after buying an additional 6,500 shares during the period. LGL Partners LLC bought a new stake in Talen Energy Corp. during the first quarter valued at $124,000. Walleye Trading LLC bought a new stake in Talen Energy Corp. during the second quarter valued at $130,000. Finally, Amalgamated Bank bought a new stake in Talen Energy Corp. during the second quarter valued at $139,000. Institutional investors and hedge funds own 96.63% of the company’s stock.
About Talen Energy Corp.
Talen Energy Corporation, through its principal subsidiary, Talen Energy Supply, LLC, is an energy and power generation and marketing company. The Company operates through two segments: East and West. The East segment includes the generating, marketing and trading activities in PJM Interconnection, LLC.
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