Wells Fargo & Company Issues Pessimistic Forecast for Talen Energy (NASDAQ:TLN) Stock Price

Key Points

• Wells Fargo lowered Talen Energy’s price target from $501 to $479 while maintaining an “overweight” rating, implying approximately 38% upside from the reported $346.36 share price.
• Analyst sentiment is mixed: Talen has a “Moderate Buy” consensus rating and a $459.09 average price target, but recent firms including Weiss Ratings and Zacks Research issued downgrade recommendations.
• Talen’s latest quarterly results missed earnings expectations, reporting a $2.00-per-share loss versus the anticipated $3.21 profit, although revenue of $959 million exceeded estimates.

Talen Energy (NASDAQ:TLN - Get Free Report) had its price target decreased by investment analysts at Wells Fargo & Company from $501.00 to $479.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's price objective indicates a potential upside of 38.29% from the stock's current price.

A number of other research firms also recently weighed in on TLN. Weiss Ratings downgraded Talen Energy from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 18th. Jefferies Financial Group decreased their price objective on Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research note on Monday, July 20th. Bank of America reiterated a "buy" rating on shares of Talen Energy in a report on Tuesday. Zacks Research lowered Talen Energy from a "hold" rating to a "strong sell" rating in a research note on Thursday, October 22nd. Finally, New Street Research set a $405.00 target price on Talen Energy in a report on Monday, August 24th. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $459.09.

Talen Energy Stock Performance

TLN traded up $0.63 during midday trading on Wednesday, hitting $346.36. The company had a trading volume of 124,590 shares, compared to its average volume of 854,080. The company has a market capitalization of $16.60 billion, a PE ratio of -83.04 and a beta of 1.82. Talen Energy has a twelve month low of $279.77 and a twelve month high of $449.84. The firm's 50-day simple moving average is $322.89 and its 200-day simple moving average is $349.86.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share for the quarter, missing the consensus estimate of $3.21 by ($5.21). The company had revenue of $959.00 million for the quarter, compared to analysts' expectations of $832.81 million. As a group, sell-side analysts anticipate that Talen Energy will post 21.15 EPS for the current fiscal year.

Institutional Trading of Talen Energy

Several hedge funds and other institutional investors have recently modified their holdings of TLN. BlackRock Inc. acquired a new position in Talen Energy during the second quarter worth $1,673,803,000. MFN Partners Management LP acquired a new position in shares of Talen Energy during the 2nd quarter worth about $1,152,780,000. Carronade Capital Management LP boosted its stake in shares of Talen Energy by 11.6% during the 1st quarter. Carronade Capital Management LP now owns 644,484 shares of the utilities provider's stock worth $205,739,000 after buying an additional 67,245 shares during the last quarter. Two Seas Capital LP acquired a new position in shares of Talen Energy during the 2nd quarter worth about $194,900,000. Finally, William Blair Investment Management LLC bought a new position in shares of Talen Energy in the 2nd quarter valued at about $191,231,000. Institutional investors and hedge funds 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.

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