BNP Paribas Exane Initiates Coverage on Talen Energy (NASDAQ:TLN)

Equities research analysts at BNP Paribas Exane began coverage on shares of Talen Energy (NASDAQ:TLN) in a report released on Wednesday. The brokerage set an “outperform” rating and a $548.00 price target on the utilities provider’s stock. BNP Paribas Exane’s price target indicates a potential upside of 67.51% from the company’s previous close.

Other research analysts also recently issued reports about the company. Morgan Stanley set a $474.00 price objective on Talen Energy in a research note on Friday, February 20th. Weiss Ratings cut Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Wells Fargo & Company lifted their target price on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Finally, Barclays dropped their price target on Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Twelve analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $439.92.

Talen Energy Price Performance

Shares of NASDAQ TLN opened at $327.14 on Wednesday. Talen Energy has a twelve month low of $162.31 and a twelve month high of $451.28. The firm has a fifty day simple moving average of $357.44 and a 200 day simple moving average of $379.89. The company has a market capitalization of $14.95 billion, a PE ratio of -66.22, a P/E/G ratio of 0.46 and a beta of 1.94. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20.

Institutional Trading of Talen Energy

Large investors have recently made changes to their positions in the company. State Street Corp boosted its holdings in Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Norges Bank bought a new stake in shares of Talen Energy during the fourth quarter valued at approximately $225,930,000. Invesco Ltd. raised its position in shares of Talen Energy by 77.5% during the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after purchasing an additional 464,014 shares during the period. Sachem Head Capital Management LP raised its position in shares of Talen Energy by 72.4% during the fourth quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock worth $374,840,000 after purchasing an additional 420,000 shares during the period. Finally, Deltroit Asset Management UK LLP bought a new position in shares of Talen Energy in the 4th quarter worth $103,081,000. 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).