Talen Energy (NASDAQ:TLN) Shares Gap Up - Here's Why

Key Points

• Talen Energy shares jumped: The stock opened at $349.15 versus a prior close of $331.87 and last traded near $364.95 on volume of 348,433 shares.
• Analyst sentiment remains positive: Eight analysts rate Talen a Buy, three Hold and one Sell, producing a “Moderate Buy” consensus and an average price target of $460.08.
• Quarterly results were mixed: Talen reported revenue of $959 million, above estimates, but posted a $2.00 per-share loss versus expectations for $3.21 in earnings per share.

Talen Energy Corporation (NASDAQ:TLN - Get Free Report) gapped up prior to trading on Tuesday. The stock had previously closed at $331.87, but opened at $349.15. Talen Energy shares last traded at $364.9460, with a volume of 348,433 shares traded.

Analyst Ratings Changes

Several analysts have issued reports on TLN shares. Jefferies Financial Group cut their price objective on Talen Energy from $453.00 to $422.00 and set a "hold" rating on the stock in a report on Monday, July 20th. Scotiabank increased their price target on shares of Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a research note on Wednesday, July 15th. BNP Paribas Exane reaffirmed an "outperform" rating and set a $560.00 price objective on shares of Talen Energy in a report on Wednesday, August 19th. Wells Fargo & Company boosted their price objective on Talen Energy from $482.00 to $501.00 and gave the stock an "overweight" rating in a research report on Thursday, August 6th. Finally, Morgan Stanley raised their target price on Talen Energy from $503.00 to $514.00 and gave the company an "overweight" rating in a report on Friday, September 18th. Eight research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $460.08.

Talen Energy Stock Performance

The stock's 50 day simple moving average is $317.88 and its two-hundred day simple moving average is $347.33. The company has a market capitalization of $17.94 billion, a P/E ratio of -89.91 and a beta of 1.82. 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 - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing analysts' consensus estimates of $3.21 by ($5.21). The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. As a group, research analysts expect that Talen Energy Corporation will post 21.99 earnings per share for the current year.

Institutional Trading of Talen Energy

Several hedge funds have recently added to or reduced their stakes in the business. Continuum Advisory LLC acquired a new stake in shares of Talen Energy in the second quarter valued at about $33,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in shares of Talen Energy during the second quarter worth about $38,000. Northwestern Mutual Wealth Management Co. bought a new stake in Talen Energy in the second quarter valued at approximately $41,000. Silvant Capital Management LLC bought a new stake in Talen Energy during the second quarter valued at $42,000. Finally, Bessemer Group Inc. increased its holdings in Talen Energy by 404.0% in the first quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 0.38% of the company's stock.

About Talen Energy

Talen Energy Corporation NASDAQ: TLN is an independent power producer that owns and operates a portfolio of electricity-generation facilities in the United States. The company supplies power and related services to wholesale electricity markets, utilities, commercial customers and other counterparties.

Talen's generation portfolio includes the Susquehanna nuclear power plant in Pennsylvania, one of the largest nuclear facilities in the country, as well as natural gas-fired and other generating assets.

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