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

Key Points

• TD Cowen initiated coverage of Talen Energy with a “buy” rating and a $475 price target, implying 32.13% upside from the prior close.
• Analyst sentiment is broadly positive: 11 analysts rate the stock a Buy, three a Hold and one a Sell, producing a “Moderate Buy” consensus and an average price target of $461.95.
• Talen’s latest quarter missed expectations on earnings, reporting a $2.00-per-share loss versus the $3.21 consensus, although revenue of $959 million exceeded estimates of $832.81 million.

Equities research analysts at TD Cowen assumed coverage on shares of Talen Energy (NASDAQ:TLN - Get Free Report) in a report released on Thursday, MarketBeat Ratings reports. The brokerage set a "buy" rating and a $475.00 price target on the utilities provider's stock. TD Cowen's price target suggests a potential upside of 32.13% from the stock's previous close.

Other analysts also recently issued research reports about the stock. BNP Paribas Exane reaffirmed an "outperform" rating and set a $560.00 price target on shares of Talen Energy in a report on Wednesday, August 19th. Wall Street Zen cut shares of Talen Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Canadian Imperial Bank of Commerce started coverage on shares of Talen Energy in a research report on Thursday, October 15th. They set a "sector outperform" rating and a $499.00 price objective for the company. HSBC assumed coverage on Talen Energy in a research note on Thursday. They set a "buy" rating and a $444.30 target price for the company. Finally, Wells Fargo & Company raised their target price on Talen Energy from $482.00 to $501.00 and gave the company an "overweight" rating in a report on Thursday, August 6th. Eleven analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $461.95.

Talen Energy Stock Up 2.9%

TLN stock opened at $359.49 on Thursday. Talen Energy has a 52 week low of $279.77 and a 52 week high of $449.84. The business has a 50-day simple moving average of $323.93 and a 200 day simple moving average of $350.89. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The company has a market cap of $17.22 billion, a PE ratio of -86.21 and a beta of 1.82.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $959.00 million for the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. Sell-side analysts anticipate that Talen Energy will post 21.83 EPS for the current fiscal year.

Institutional Investors Weigh In On Talen Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. bought a new position in Talen Energy in the 2nd quarter valued at approximately $4,132,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Talen Energy in the second quarter valued at approximately $5,118,000. Tidal Investments LLC grew its stake in shares of Talen Energy by 84.7% during the second quarter. Tidal Investments LLC now owns 46,686 shares of the utilities provider's stock worth $17,940,000 after buying an additional 21,406 shares during the last quarter. Silicon Valley Capital Partners bought a new stake in shares of Talen Energy during the second quarter worth $2,386,000. Finally, Ninepoint Partners LP bought a new stake in shares of Talen Energy during the second quarter worth $1,694,000. 0.38% of the stock is owned by institutional investors.

About Talen Energy

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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