On June 23, Talen Energy fell 5.36% in regular trading, trading at $416.215/share, with turnover of $80.78 million.
On the news front, the company filed a prospectus to register up to 2.4 million common shares for resale by stockholders who received the shares as equity consideration in its acquisition of three power plants from affiliates of Energy Capital Partners. The acquired assets include the 875-megawatt Waterford Energy Center and 456-megawatt Darby Generating Station in Ohio, as well as the 1,120-megawatt Lawrenceburg Power Plant in Indiana.
The stock had previously rallied on the completion of the western PJM asset acquisition and a Goldman Sachs initiation at Buy with a $499 target price. The registration of shares for potential resale by acquisition sellers, combined with short-term profit-taking following the recent run-up, created downward pressure on the stock.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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