Talen Energy (NASDAQ:TLN) Reaches New 1-Year Low Following Analyst Downgrade

Talen Energy Corporation (NASDAQ:TLN) reached a new 52-week low 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 trading hands. The stock had previously closed at $306.29.

Several other research firms have also weighed in on TLN. Weiss Ratings lowered Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. Scotiabank raised their price objective on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. Wall Street Zen cut Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Morgan Stanley dropped their price objective on shares of Talen Energy from $508.00 to $503.00 and set an “overweight” rating for the company in a research note on Friday, August 21st. Finally, Mizuho initiated coverage on shares of Talen Energy in a research report on Monday, August 24th. They set an “outperform” rating and a $405.00 price objective for the company. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $466.86.

Insider Buying and Selling

In other news, Director Gizman I. Abbas sold 2,600 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were 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 $990,280. The trade was a 49.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.78% of the company’s stock.

Hedge Funds Weigh In On Talen Energy

Several institutional investors have recently added to or reduced their stakes in TLN. Continuum Advisory LLC purchased a new stake in shares of Talen Energy during the 2nd quarter worth approximately $33,000. Advisory Services Network LLC bought a new stake in shares of Talen Energy in the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Talen Energy by 1,500.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after acquiring an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Talen Energy during the second quarter valued at about $38,000. Finally, Bessemer Group Inc. grew its position in shares of Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 101 shares in the last quarter. Institutional investors own 0.38% of the company’s stock.

Talen Energy Trading Down 2.8%

The stock has a 50-day moving average price of $358.05 and a 200-day moving average price of $356.13. The stock has a market cap of $14.19 billion, a P/E ratio of -71.01 and a beta of 1.90. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The business had revenue of $747.00 million for the quarter, compared to analysts’ expectations of $832.81 million. On average, equities research analysts expect that Talen Energy Corporation will post 21.99 EPS for the current year.

Talen Energy Company Profile

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).