Talen Energy Corporation (NASDAQ:TLN – Get Free Report) was the recipient of some unusual options trading on Tuesday. Traders bought 6,812 call options on the company. This represents an increase of 115% compared to the average daily volume of 3,165 call options.
Talen Energy Trading Up 7.1%
Shares of NASDAQ:TLN traded up $27.57 on Tuesday, hitting $413.78. 710,166 shares of the company’s stock were exchanged, compared to its average volume of 798,185. Talen Energy has a 12 month low of $255.50 and a 12 month high of $451.28. The stock has a market capitalization of $18.79 billion, a price-to-earnings ratio of -616.18 and a beta of 1.81. The business’s 50 day simple moving average is $358.16 and its two-hundred day simple moving average is $358.23. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on the company. BNP Paribas Exane assumed coverage on Talen Energy in a research report on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price target for the company. Morgan Stanley restated an “overweight” rating and issued a $499.00 price target on shares of Talen Energy in a research report on Thursday, May 21st. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Raymond James Financial restated an “outperform” rating and issued a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. lowered their price target on Talen Energy from $448.00 to $421.00 and set an “overweight” rating for the company in a research report on Thursday, March 19th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and an average target price of $448.58.
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the company. American Century Companies Inc. increased its stake in Talen Energy by 1.6% during the 3rd quarter. American Century Companies Inc. now owns 342,914 shares of the utilities provider’s stock valued at $145,870,000 after purchasing an additional 5,389 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Talen Energy by 1,526.3% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after purchasing an additional 24,452 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Talen Energy by 157.0% during the third quarter. Victory Capital Management Inc. now owns 111,104 shares of the utilities provider’s stock worth $47,261,000 after purchasing an additional 67,881 shares during the period. South Dakota Investment Council acquired a new stake in shares of Talen Energy during the third quarter worth about $1,489,000. Finally, Vaughan Nelson Investment Management L.P. lifted its holdings in shares of Talen Energy by 11.8% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 45,250 shares of the utilities provider’s stock worth $16,962,000 after purchasing an additional 4,770 shares during the period. 0.38% of the stock is currently owned by hedge funds and other institutional investors.
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).
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