Talen Energy (NASDAQ:TLN) Downgraded to "Hold" Rating by Zacks Research

Key Points

• Zacks Research downgraded Talen Energy from “strong buy” to “hold,” although the broader analyst consensus remains “moderate buy” with a $466.86 price target.
• Talen Energy shares opened at $296.11, near their 52-week low of $294.75 and well below the 52-week high of $451.28.
• The company reported a quarterly loss of $2.00 per share, missing expectations by $5.21, while revenue of $747 million also fell short of the $832.81 million consensus estimate.

Talen Energy (NASDAQ:TLN - Get Free Report) was downgraded by stock analysts at Zacks Research from a "strong-buy" rating to a "hold" rating in a report released on Thursday,Zacks.com reports.

Other research analysts have also recently issued reports about the stock. Scotiabank lifted their target price on shares of Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 15th. Susquehanna set a $449.00 price target on shares of Talen Energy in a research report on Friday, August 7th. Weiss Ratings lowered shares of Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a report on Tuesday, August 18th. New Street Research set a $405.00 price objective on Talen Energy in a research report on Monday. Finally, Wells Fargo & Company increased their target price on Talen Energy from $482.00 to $501.00 and gave the company an "overweight" rating in a research note on Thursday, August 6th. Ten equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $466.86.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $296.11 on Thursday. Talen Energy has a 1-year low of $294.75 and a 1-year high of $451.28. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The business has a fifty day moving average price of $358.05 and a 200-day moving average price of $356.13. The company has a market capitalization of $14.19 billion, a PE ratio of -71.01 and a beta of 1.90.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings results 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). Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%.The company had revenue of $747.00 million during the quarter, compared to analysts' expectations of $832.81 million. As a group, equities analysts expect that Talen Energy will post 21.99 EPS for the current fiscal year.

Insider Buying and Selling at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of the stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares in the company, valued at $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.78% of the stock is owned by insiders.

Hedge Funds Weigh In On Talen Energy

A number of institutional investors and hedge funds have recently modified their holdings of TLN. Amundi purchased a new stake in Talen Energy during the first quarter valued at $299,000. AQR Capital Management LLC purchased a new position in Talen Energy in the first quarter worth about $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Talen Energy by 11.7% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider's stock valued at $1,454,000 after purchasing an additional 761 shares during the period. NewEdge Advisors LLC grew its stake in shares of Talen Energy by 17,400.0% during the 1st quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider's stock valued at $175,000 after purchasing an additional 870 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Talen Energy by 15.3% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider's stock valued at $9,794,000 after purchasing an additional 6,498 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other 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).

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