Talen Energy (NASDAQ:TLN) Shares Gap Up – Should You Buy?

Talen Energy Corporation (NASDAQ:TLN)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $314.57, but opened at $331.77. Talen Energy shares last traded at $343.5290, with a volume of 145,924 shares.

Wall Street Analysts Forecast Growth

TLN has been the topic of a number of analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Talen Energy from $448.00 to $421.00 and set an “overweight” rating on the stock in a research note on Thursday, March 19th. Morgan Stanley reaffirmed an “overweight” rating and issued a $499.00 price objective on shares of Talen Energy in a research note on Thursday. BNP Paribas Exane initiated coverage on shares of Talen Energy in a research note on Wednesday, March 18th. They issued an “outperform” rating and a $548.00 price objective on the stock. Weiss Ratings raised shares of Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $457.00 price objective on shares of Talen Energy in a research note on Monday, April 27th. Twelve investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Talen Energy has a consensus rating of “Moderate Buy” and an average target price of $448.58.

Talen Energy Stock Performance

The company has a quick ratio of 1.05, a current ratio of 1.25 and a debt-to-equity ratio of 6.32. The company’s 50 day moving average is $341.00 and its 200-day moving average is $359.26. The firm has a market capitalization of $16.37 billion, a P/E ratio of -538.02 and a beta of 1.90.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Talen Energy by 2.7% during the third quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock worth $1,924,061,000 after buying an additional 117,266 shares during the last quarter. Fred Alger Management LLC raised its holdings in Talen Energy by 8.4% during the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock worth $676,247,000 after buying an additional 140,345 shares during the last quarter. Reaves W H & Co. Inc. raised its holdings in Talen Energy by 7.9% during the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock worth $570,393,000 after buying an additional 111,160 shares during the last quarter. Invesco Ltd. raised its holdings in Talen Energy by 35.6% during the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock worth $540,287,000 after buying an additional 378,357 shares during the last quarter. Finally, State Street Corp raised its holdings in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after buying an additional 627,467 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

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).