Talen Energy Target of Unusually High Options Trading (NASDAQ:TLN)

Key Points

• Options activity surged: Investors purchased 6,613 Talen Energy call options, 74% above the typical volume of 3,806 contracts.
• Analyst sentiment remains broadly positive: The stock carries a “Moderate Buy” consensus rating with an average price target of $477.58, despite ratings ranging from “Strong Buy” to “Sell.”
• Shares and quarterly results weakened: Talen stock fell 1.2% to $313.22, while the company reported a $2.00 quarterly loss per share and revenue of $747 million, missing analyst expectations on both measures.

Talen Energy Corporation (NASDAQ:TLN - Get Free Report) was the recipient of unusually large options trading on Friday. Stock investors acquired 6,613 call options on the company. This represents an increase of 74% compared to the typical volume of 3,806 call options.

Analysts Set New Price Targets

Several analysts have commented on TLN shares. Raymond James Financial reissued an "outperform" rating and set a $457.00 price target on shares of Talen Energy in a research report on Monday, April 27th. BNP Paribas Exane reaffirmed an "outperform" rating and issued a $560.00 price objective on shares of Talen Energy in a research report on Wednesday. Weiss Ratings lowered shares of Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday. Zacks Research raised shares of Talen Energy from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, July 29th. Finally, Jefferies Financial Group decreased their target price on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research report on Monday, July 20th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $477.58.

Talen Energy Stock Down 1.2%

NASDAQ:TLN traded down $3.77 during mid-day trading on Friday, hitting $313.22. 178,545 shares of the company's stock traded hands, compared to its average volume of 823,106. The company has a fifty day moving average of $370.07 and a 200 day moving average of $357.47. Talen Energy has a twelve month low of $301.45 and a twelve month high of $451.28. The company has a market capitalization of $15.01 billion, a P/E ratio of -75.11 and a beta of 1.90. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78.

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 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 business had revenue of $747.00 million during the quarter, compared to analyst estimates of $832.81 million. On average, analysts forecast that Talen Energy will post 25.07 EPS for the current year.

Insiders Place Their Bets

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.78% of the stock is currently owned by insiders.

Institutional Trading of Talen Energy

Institutional investors have recently bought and sold shares of the stock. Advisory Services Network LLC purchased a new position in shares of Talen Energy in the third quarter worth $35,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider's stock valued at $36,000 after acquiring an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of Talen Energy in the 2nd quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Talen Energy in the 4th quarter worth $39,000. Finally, Bessemer Group Inc. raised its stake in Talen Energy by 404.0% in the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider's stock worth $41,000 after acquiring an additional 101 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

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).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source