Talen Energy (NASDAQ:TLN) Stock Rated "Buy" in New Coverage at HSBC

Key Points

• HSBC initiated coverage of Talen Energy with a “Buy” rating and a $444.30 price target, implying 23.59% upside from the reported share price.
• Analyst sentiment is broadly positive: 11 analysts rate the stock Buy, three Hold, and one Sell, resulting in a “Moderate Buy” consensus and an average target price of $461.95.
• Talen’s latest quarter missed EPS expectations by $5.21 despite revenue exceeding forecasts; shares opened at $359.49, while the company continues to operate nuclear, natural-gas, and other power-generation assets.

Equities research analysts at HSBC started coverage on shares of Talen Energy (NASDAQ:TLN - Get Free Report) in a research note issued on Thursday, MarketBeat.com reports. The firm set a "buy" rating and a $444.30 price target on the utilities provider's stock. HSBC's target price would indicate a potential upside of 23.59% from the stock's current price.

TLN has been the topic of several other research reports. The Goldman Sachs Group reaffirmed a "buy" rating and set a $509.00 target price on shares of Talen Energy in a research report on Monday, August 10th. BNP Paribas Exane restated an "outperform" rating and set a $560.00 price objective on shares of Talen Energy in a research note on Wednesday, August 19th. Canadian Imperial Bank of Commerce initiated coverage on Talen Energy in a research report on Thursday, October 15th. They set a "sector outperform" rating and a $499.00 price objective on the stock. Wall Street Zen lowered Talen Energy from a "hold" rating to a "sell" rating in a research note on Saturday, August 8th. Finally, Susquehanna set a $449.00 target price on Talen Energy in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Talen Energy presently has an average rating of "Moderate Buy" and a consensus target price of $461.95.

Talen Energy Price Performance

NASDAQ TLN opened at $359.49 on Thursday. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The firm's 50 day moving average price is $323.93 and its 200-day moving average price is $350.89. Talen Energy has a 52-week low of $279.77 and a 52-week high of $449.84. 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 issued 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 business had revenue of $959.00 million for the quarter, compared to analysts' expectations of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Sell-side analysts forecast that Talen Energy will post 21.83 EPS for the current fiscal year.

Hedge Funds Weigh In On Talen Energy

Hedge funds and other institutional investors have recently bought and sold shares of the company. Crescent Grove Advisors LLC increased its stake in Talen Energy by 80.1% in the third quarter. Crescent Grove Advisors LLC now owns 1,255 shares of the utilities provider's stock valued at $392,000 after purchasing an additional 558 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of Talen Energy by 10.9% in the third quarter. Crossmark Global Holdings Inc. now owns 3,259 shares of the utilities provider's stock valued at $1,019,000 after buying an additional 320 shares during the last quarter. Canoe Financial LP purchased a new stake in shares of Talen Energy in the third quarter valued at about $22,747,000. Quadrant Capital Group LLC acquired a new stake in shares of Talen Energy during the third quarter worth about $299,000. Finally, Compound Global Advisors LLC acquired a new stake in shares of Talen Energy during the third quarter worth about $125,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.