Talen Energy (NASDAQ:TLN) Shares Gap Down – Here’s Why

Talen Energy Corporation (NASDAQ:TLN) gapped down before the market opened on Monday . The stock had previously closed at $245.06, but opened at $217.00. Talen Energy shares last traded at $193.58, with a volume of 1,315,881 shares traded.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. started coverage on Talen Energy in a research report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price target on the stock. Barclays raised their price target on shares of Talen Energy from $245.00 to $293.00 and gave the stock an “overweight” rating in a research note on Monday. Daiwa Capital Markets assumed coverage on Talen Energy in a report on Wednesday, December 4th. They issued a “buy” rating and a $248.00 price objective for the company. UBS Group upped their target price on Talen Energy from $242.00 to $269.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Finally, Guggenheim upped their price target on shares of Talen Energy from $219.00 to $246.00 and gave the stock a “buy” rating in a research report on Tuesday, October 8th. Ten research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $229.90.

Talen Energy Stock Down 19.3 %

The stock’s fifty day moving average is $214.95 and its two-hundred day moving average is $158.95. The firm has a market cap of $10.05 billion and a P/E ratio of 10.44. The company has a current ratio of 4.10, a quick ratio of 3.37 and a debt-to-equity ratio of 1.07.

Insider Buying and Selling

In related news, major shareholder Rubric Capital Management Lp sold 4,893,507 shares of Talen Energy stock in a transaction on Friday, December 13th. The shares were sold at an average price of $204.35, for a total value of $999,988,155.45. Following the transaction, the insider now directly owns 6,475,107 shares of the company’s stock, valued at $1,323,188,115.45. The trade was a 43.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Rubric Capital Management LP purchased a new stake in shares of Talen Energy in the third quarter worth $2,026,342,000. River Road Asset Management LLC bought a new stake in shares of Talen Energy in the third quarter worth $277,653,000. Monarch Alternative Capital LP bought a new position in Talen Energy in the third quarter valued at about $258,448,000. Mirabella Financial Services LLP bought a new stake in shares of Talen Energy during the 3rd quarter valued at about $168,108,000. Finally, Sachem Head Capital Management LP purchased a new position in shares of Talen Energy in the third quarter worth approximately $167,724,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.