Talen Energy Corporation (NASDAQ:TLN) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Talen Energy Corporation (NASDAQ:TLN) have earned a consensus recommendation of “Moderate Buy” from the fifteen analysts that are currently covering the firm, Marketbeat.com reports. Three equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $448.5833.

Several analysts recently issued reports on TLN shares. Barclays increased their target price on Talen Energy from $408.00 to $411.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 19th. Raymond James Financial reiterated an “outperform” rating and set a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. BNP Paribas Exane started coverage on Talen Energy in a research report on Wednesday, March 18th. They set an “outperform” rating and a $548.00 target price for the company. Weiss Ratings upgraded Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Wells Fargo & Company increased their target price on Talen Energy from $465.00 to $477.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 6th.

Talen Energy Stock Performance

NASDAQ:TLN opened at $358.74 on Wednesday. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32. Talen Energy has a 12-month low of $246.95 and a 12-month high of $451.28. The stock has a 50-day moving average price of $355.35 and a 200 day moving average price of $358.69. The stock has a market capitalization of $16.29 billion, a P/E ratio of -535.42 and a beta of 1.80.

Hedge Funds Weigh In On Talen Energy

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 valued at $1,924,061,000 after buying an additional 117,266 shares during the last quarter. Fred Alger Management LLC raised its stake 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 valued at $676,247,000 after purchasing an additional 140,345 shares in the last quarter. Reaves W H & Co. Inc. raised its stake 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 valued at $570,393,000 after purchasing an additional 111,160 shares in the last quarter. Invesco Ltd. raised its stake in Talen Energy by 35.6% during the fourth quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after purchasing an additional 378,357 shares in the last quarter. Finally, State Street Corp raised its position in shares of Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after buying an additional 627,467 shares in the last quarter. 0.38% of the stock is owned by institutional investors.

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).