Talen Energy (NASDAQ:TLN) Reaches New 1-Year Low – Here’s What Happened

Talen Energy Corporation (NASDAQ:TLN) shares reached a new 52-week low on Wednesday . The company traded as low as $288.58 and last traded at $293.73, with a volume of 947993 shares traded. The stock had previously closed at $295.76.

Wall Street Analyst Weigh In

Several brokerages have issued reports on TLN. Scotiabank upped their price target on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research report on Wednesday, July 15th. Weiss Ratings lowered shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, August 18th. The Goldman Sachs Group restated a “buy” rating and issued a $509.00 price objective on shares of Talen Energy in a report on Monday, August 10th. Morgan Stanley lowered their target price on Talen Energy from $508.00 to $503.00 and set an “overweight” rating for the company in a research report on Friday, August 21st. Finally, Zacks Research downgraded Talen Energy from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 27th. Ten investment 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $466.86.

Talen Energy Price Performance

The firm has a market capitalization of $14.07 billion, a P/E ratio of -70.44 and a beta of 1.85. The company has a fifty day moving average of $352.84 and a 200 day moving average of $355.28. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55.

Talen Energy (NASDAQ:TLN) last released 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). The firm had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. Sell-side analysts predict that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction on 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 transaction, the director owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is currently owned by company insiders.

Institutional Trading of Talen Energy

Institutional investors have recently bought and sold shares of the company. Oppenheimer Asset Management Inc. bought a new stake in Talen Energy in the second quarter worth approximately $4,132,000. Ninepoint Partners LP bought a new position in shares of Talen Energy during the 2nd quarter worth approximately $1,694,000. 180 GPS Investments IC Ltd acquired a new stake in shares of Talen Energy during the 2nd quarter worth approximately $8,636,000. Global Retirement Partners LLC acquired a new stake in shares of Talen Energy during the 2nd quarter worth approximately $1,213,000. Finally, Diversify Advisory Services LLC acquired a new stake in shares of Talen Energy during the 2nd quarter worth approximately $12,228,000. 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).