Talen Energy (NASDAQ:TLN) Now Covered by Analysts at TD Cowen

Stock analysts at TD Cowen initiated coverage on shares of Talen Energy (NASDAQ:TLN) in a research note issued to investors on Thursday, MarketBeat reports. The firm set a “buy” rating and a $475.00 price target on the utilities provider’s stock. TD Cowen’s target price points to a potential upside of 32.13% from the stock’s previous close.

A number of other research firms have also weighed in on TLN. Canadian Imperial Bank of Commerce assumed coverage on shares of Talen Energy in a report on Thursday, October 15th. They set a “sector outperform” rating and a $499.00 target price on the stock. HSBC initiated coverage on shares of Talen Energy in a research note on Thursday. They set a “buy” rating and a $444.30 price target for the company. Barclays reduced their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 28th. BNP Paribas Exane reissued an “outperform” rating and issued a $560.00 price objective on shares of Talen Energy in a research note on Wednesday, August 19th. Finally, New Street Research set a $405.00 price objective on Talen Energy in a report on Monday, August 24th. Eleven analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $461.95.

Talen Energy Stock Performance

Shares of TLN stock opened at $359.49 on Thursday. The firm has a market capitalization of $17.22 billion, a price-to-earnings ratio of -86.21 and a beta of 1.82. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The business’s 50-day moving average price is $323.93 and its 200-day moving average price is $350.89. Talen Energy has a 12 month low of $279.77 and a 12 month high of $449.84.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by ($5.21). The firm had revenue of $959.00 million during the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Equities research analysts forecast that Talen Energy will post 21.83 EPS for the current year.

Hedge Funds Weigh In On Talen Energy

Hedge funds have recently bought and sold shares of the company. Crescent Grove Advisors LLC boosted its position in Talen Energy by 80.1% during the third quarter. Crescent Grove Advisors LLC now owns 1,255 shares of the utilities provider’s stock valued at $392,000 after acquiring an additional 558 shares during the last quarter. Crossmark Global Holdings Inc. raised its position in shares of Talen Energy by 10.9% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 3,259 shares of the utilities provider’s stock worth $1,019,000 after acquiring an additional 320 shares in the last quarter. Canoe Financial LP acquired a new position in shares of Talen Energy in the 3rd quarter valued at about $22,747,000. Quadrant Capital Group LLC acquired a new position in shares of Talen Energy in the 3rd quarter valued at about $299,000. Finally, Compound Global Advisors LLC bought a new stake in shares of Talen Energy during the 3rd quarter valued at about $125,000. Institutional investors own 0.38% of the company’s stock.

Talen Energy Company Profile

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.