Talen Energy Corporation (NASDAQ:TLN – Get Free Report) hit a new 52-week low during trading on Thursday . The stock traded as low as $300.52 and last traded at $301.6020, with a volume of 140279 shares traded. The stock had previously closed at $306.29.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on TLN. New Street Research set a $405.00 price target on shares of Talen Energy in a report on Monday. Susquehanna set a $449.00 price objective on shares of Talen Energy in a report on Friday, August 7th. Scotiabank upped their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research report on Wednesday, July 15th. Wall Street Zen cut shares of Talen Energy from a “hold” rating to a “sell” rating in a report on Saturday, August 8th. Finally, Weiss Ratings downgraded shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Talen Energy has a consensus rating of “Moderate Buy” and an average price target of $466.86.
Read Our Latest Analysis on Talen Energy
Talen Energy Price Performance
Talen Energy (NASDAQ:TLN – Get Free Report) 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). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The firm had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. On average, equities research analysts anticipate that Talen Energy Corporation will post 21.99 earnings per share for the current fiscal year.
Insiders Place Their Bets
In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy 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 transaction, the director owned 2,606 shares in the company, valued at approximately $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 accessible through this link. Company insiders own 0.78% of the company’s stock.
Institutional Trading of Talen Energy
Several large investors have recently modified their holdings of the business. Advisory Services Network LLC purchased a new stake in Talen Energy in the 3rd quarter valued at approximately $35,000. Continuum Advisory LLC purchased a new position in Talen Energy during the second quarter worth $33,000. Northwestern Mutual Wealth Management Co. increased its position in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock worth $36,000 after buying an additional 90 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Talen Energy in the second quarter worth $38,000. Finally, Silvant Capital Management LLC acquired a new position in shares of Talen Energy in the second quarter worth $42,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.
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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