JPMorgan Chase & Co. Cuts Talen Energy (NASDAQ:TLN) Price Target to $421.00

Talen Energy (NASDAQ:TLN) had its price objective decreased by JPMorgan Chase & Co. from $448.00 to $421.00 in a report published on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the utilities provider’s stock.

Several other equities analysts also recently weighed in on TLN. Wells Fargo & Company raised their target price on shares of Talen Energy from $445.00 to $506.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Weiss Ratings lowered shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research report on Friday, February 27th. BNP Paribas Exane started coverage on shares of Talen Energy in a research note on Wednesday. They set an “outperform” rating and a $548.00 price objective for the company. Barclays cut their price objective on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Finally, Morgan Stanley set a $474.00 target price on Talen Energy in a report on Friday, February 20th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $438.17.

Talen Energy Price Performance

Talen Energy stock opened at $302.97 on Thursday. Talen Energy has a 52 week low of $162.31 and a 52 week high of $451.28. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20. The firm’s 50-day simple moving average is $355.05 and its 200 day simple moving average is $378.82. The firm has a market capitalization of $13.84 billion, a PE ratio of -61.33, a P/E/G ratio of 0.43 and a beta of 1.94.

Institutional Trading of Talen Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Flagship Harbor Advisors LLC purchased a new position in shares of Talen Energy during the 4th quarter worth $27,000. Grove Bank & Trust purchased a new stake in shares of Talen Energy in the third quarter valued at $32,000. Assetmark Inc. increased its stake in Talen Energy by 581.8% in the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after purchasing an additional 64 shares during the last quarter. Neo Ivy Capital Management purchased a new position in Talen Energy during the third quarter worth about $34,000. Finally, Advisory Services Network LLC purchased a new position in Talen Energy during the third quarter worth about $35,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

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).