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

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Barclays lowered their price target on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Morgan Stanley reaffirmed an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research report on Wednesday, June 24th. Zacks Research upgraded Talen Energy from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 29th. Finally, Jefferies Financial Group reduced their target price on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and an average target price of $476.58.

Talen Energy Trading Down 10.3%

The business’s 50 day moving average price is $371.73 and its 200-day moving average price is $358.31. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The company has a market cap of $15.35 billion, a price-to-earnings ratio of -77.00 and a beta of 1.90.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS 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 company had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. On average, equities analysts anticipate that Talen Energy Corporation will post 25.07 EPS for the current fiscal year.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s 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 owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.78% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Talen Energy

Large investors have recently made changes to their positions in the company. Advisory Services Network LLC acquired a new stake in Talen Energy during the 3rd quarter worth approximately $35,000. Northwestern Mutual Wealth Management Co. grew its holdings in Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after buying an additional 90 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in Talen Energy in the 2nd quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new position in Talen Energy during the 4th quarter worth $39,000. Finally, Bessemer Group Inc. increased its position in Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after buying an additional 101 shares during the period. Institutional investors own 0.38% of the company’s stock.

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).