Melius Initiates Coverage on Talen Energy (NASDAQ:TLN)

Key Points

• Melius has initiated coverage on Talen Energy (NASDAQ: TLN) with a buy rating and a price target of $427.00, indicating a potential upside of 15.98% from its previous close.
• Talen Energy reported better-than-expected earnings with $1.50 EPS for the quarter, exceeding the consensus estimate of -$1.13, and achieved a revenue of $630 million against an expected $481.48 million.
• Currently, Talen Energy has a consensus rating of "Buy" from fifteen analysts, with an average target price of $307.46.

Equities researchers at Melius initiated coverage on shares of Talen Energy (NASDAQ:TLN - Get Free Report) in a research note issued on Wednesday,Briefing.com Automated Import reports. The brokerage set a "buy" rating and a $427.00 price target on the utilities provider's stock. Melius' price objective would suggest a potential upside of 15.98% from the company's previous close.

Several other brokerages also recently issued reports on TLN. Wall Street Zen raised shares of Talen Energy from a "sell" rating to a "hold" rating in a report on Monday, August 11th. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Jefferies Financial Group upped their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a research note on Friday, July 18th. Raymond James Financial began coverage on shares of Talen Energy in a research note on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective on the stock. Finally, UBS Group set a $431.00 price objective on shares of Talen Energy and gave the company a "buy" rating in a research note on Friday, July 25th. Fifteen investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average target price of $307.46.

Talen Energy Trading Down 2.3%

NASDAQ TLN opened at $368.16 on Wednesday. The stock has a market capitalization of $16.82 billion, a P/E ratio of 104.29, a P/E/G ratio of 2.77 and a beta of 1.90. Talen Energy has a 52-week low of $133.02 and a 52-week high of $394.07. The firm has a 50-day moving average price of $319.60 and a 200 day moving average price of $254.06. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The company had revenue of $630.00 million for the quarter, compared to the consensus estimate of $481.48 million. Equities research analysts expect that Talen Energy will post 15.94 EPS for the current year.

Insider Buying and Selling

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction on Friday, June 27th. The shares were sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the sale, the insider owned 5,734,970 shares of the company's stock, valued at $1,697,780,518.80. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold a total of 388,530 shares of company stock worth $114,090,933 over the last ninety days.

Institutional Investors Weigh In On Talen Energy

Large investors have recently made changes to their positions in the business. Crescent Grove Advisors LLC acquired a new stake in shares of Talen Energy in the first quarter worth $285,000. TCW Group Inc. acquired a new stake in shares of Talen Energy in the first quarter worth $9,266,000. Thoroughbred Financial Services LLC acquired a new stake in shares of Talen Energy in the first quarter worth $756,000. Principal Financial Group Inc. increased its position in shares of Talen Energy by 114.9% in the first quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider's stock worth $717,000 after acquiring an additional 1,920 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in shares of Talen Energy in the first quarter worth $703,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.

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