Talen Energy (NASDAQ:TLN) Sets New 12-Month Low on Analyst Downgrade

Talen Energy Corporation (NASDAQ:TLN)’s stock price hit a new 52-week low during mid-day trading on Thursday after Zacks Research downgraded the stock from a strong-buy rating to a hold rating. The stock traded as low as $300.52 and last traded at $301.6020, with a volume of 140279 shares changing hands. The stock had previously closed at $306.29.

Several other equities analysts have also recently commented on TLN. Morgan Stanley lowered their price target on shares of Talen Energy from $508.00 to $503.00 and set an “overweight” rating on the stock in a report on Friday, August 21st. Wells Fargo & Company upped their price objective on shares of Talen Energy from $482.00 to $501.00 and gave the stock an “overweight” rating in a report on Thursday, August 6th. Wall Street Zen downgraded shares of Talen Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. New Street Research set a $405.00 price objective on Talen Energy in a research report on Monday. Finally, BNP Paribas Exane reiterated an “outperform” rating and set a $560.00 target price on shares of Talen Energy in a research report on Wednesday, August 19th. Ten equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $466.86.

Insiders Place Their Bets

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the sale, the director directly owned 2,606 shares of the company’s stock, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TLN. Corient Private Wealth LP bought a new stake in Talen Energy in the 2nd quarter valued at $555,000. HighTower Advisors LLC grew its position in shares of Talen Energy by 57.3% during the 2nd quarter. HighTower Advisors LLC now owns 1,554 shares of the utilities provider’s stock worth $597,000 after purchasing an additional 566 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Talen Energy during the second quarter worth approximately $5,118,000. California State Teachers Retirement System grew its holdings in shares of Talen Energy by 39,750.4% during the 2nd quarter. California State Teachers Retirement System now owns 18,232,753 shares of the utilities provider’s stock worth $7,006,118,000 after purchasing an additional 18,187,000 shares in the last quarter. Finally, Fortitude Advisory Group L.L.C. increased its holdings in Talen Energy by 4.9% in the 2nd quarter. Fortitude Advisory Group L.L.C. now owns 3,761 shares of the utilities provider’s stock valued at $1,445,000 after buying an additional 175 shares during the period. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Price Performance

The business’s 50 day moving average is $358.05 and its 200-day moving average is $356.13. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The firm has a market capitalization of $14.19 billion, a P/E ratio of -71.01 and a beta of 1.90.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). The company had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. As a group, sell-side analysts predict that Talen Energy Corporation will post 21.99 EPS for the current fiscal year.

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).