Talen Energy (NASDAQ:TLN) Stock Rated Buy in New Coverage at TD Cowen

by · The Markets Daily

TD Cowen initiated coverage on shares of Talen Energy (NASDAQ:TLN – Free Report) in a research report report published on Thursday, Marketbeat reports. The firm issued a buy rating and a $475.00 price target on the utilities provider’s stock.

Several other equities analysts also recently commented on the company. HSBC started coverage on Talen Energy in a research report on Thursday. They issued a “buy” rating and a $444.30 price objective on the stock. BNP Paribas Exane reiterated an “outperform” rating and set a $560.00 target price on shares of Talen Energy in a research report on Wednesday, August 19th. Wells Fargo & Company increased their target price on Talen Energy from $482.00 to $501.00 and gave the stock an “overweight” rating in a research report on Thursday, August 6th. Scotiabank lifted their target price on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 15th. Finally, Susquehanna set a $449.00 price target on Talen Energy in a report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, two have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and an average price target of $461.95.

Check Out Our Latest Research Report on TLN

Talen Energy Trading Down 1.1%

Shares of Talen Energy stock opened at $327.91 on Thursday. The company has a market capitalization of $15.71 billion, a P/E ratio of -78.64 and a beta of 1.82. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The company has a fifty day moving average of $322.69 and a 200 day moving average of $350.75. Talen Energy has a fifty-two week low of $279.77 and a fifty-two week high of $449.84.

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 (EPS) for the quarter, missing analysts’ consensus estimates 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 $959.00 million during the quarter, compared to analysts’ expectations of $832.81 million. On average, sell-side analysts anticipate that Talen Energy will post 21.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Talen Energy

Several institutional investors have recently bought and sold shares of the stock. BlackRock Inc. bought a new stake in Talen Energy in the 2nd quarter valued at $1,673,803,000. MFN Partners Management LP purchased a new stake in Talen Energy in the 2nd quarter worth $1,152,780,000. Carronade Capital Management LP boosted its holdings in shares of Talen Energy by 11.6% during the 1st quarter. Carronade Capital Management LP now owns 644,484 shares of the utilities provider’s stock valued at $205,739,000 after purchasing an additional 67,245 shares during the last quarter. Two Seas Capital LP bought a new position in shares of Talen Energy during the 2nd quarter valued at about $194,900,000. Finally, William Blair Investment Management LLC bought a new position in shares of Talen Energy during the 2nd quarter valued at about $191,231,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Company Profile

(Get Free Report)

Talen Energy Corporation (NASDAQ:TLN) is an independent power producer that owns and operates power generation and energy infrastructure assets in the United States. The company sells electricity, capacity and ancillary services into wholesale power markets, serving utilities, commercial and industrial customers, and other energy market participants.

Talen’s generation portfolio includes nuclear, natural gas and other power assets. Its Susquehanna nuclear power station in Pennsylvania is a central part of the company’s operations, and Talen has also pursued energy infrastructure projects designed to support large-scale electricity users, including data centers and other technology-related facilities.

The company was formed in 2015 through the separation of competitive power generation assets from PPL Corporation.

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