Melius Research Initiates Coverage on Talen Energy (NASDAQ:TLN)

Key Points

• Melius Research has initiated coverage on Talen Energy (NASDAQ:TLN) with a buy rating and a price target of $427.00, indicating a potential upside of 20.14% from its previous close.
• The company recently reported earnings of $1.50 per share, significantly exceeding the consensus estimate of ($1.13), along with revenue of $630 million.
• Multiple research firms have issued favorable ratings on Talen Energy, with an average consensus rating of "Buy" and various price targets ranging from $314 to $418.

Research analysts at Melius Research began coverage on shares of Talen Energy (NASDAQ:TLN - Get Free Report) in a report released on Wednesday,Benzinga reports. The firm set a "buy" rating and a $427.00 price target on the utilities provider's stock. Melius Research's target price suggests a potential upside of 20.14% from the company's previous close.

TLN has been the topic of several other research reports. Raymond James Financial assumed coverage on shares of Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective on the stock. Oppenheimer set a $315.00 price target on shares of Talen Energy and gave the company an "outperform" rating in a research report on Friday, July 11th. Morgan Stanley upped their target price on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Barclays upped their target price on shares of Talen Energy from $353.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Sixteen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $316.00.

Talen Energy Stock Performance

Talen Energy stock traded down $12.73 on Wednesday, reaching $355.43. 294,018 shares of the stock were exchanged, compared to its average volume of 1,164,382. The stock has a market cap of $16.24 billion, a PE ratio of 100.51, a PEG ratio of 2.77 and a beta of 1.90. The company has a current ratio of 1.84, a quick ratio of 1.34 and a debt-to-equity ratio of 2.39. Talen Energy has a twelve month low of $136.56 and a twelve month high of $394.07. The firm has a fifty day moving average price of $319.60 and a two-hundred day moving average price of $254.06.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of ($1.13) by $2.63. The firm had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. Sell-side analysts anticipate that Talen Energy will post 15.94 EPS for the current year.

Insider Buying and Selling

In other Talen Energy 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 in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 388,530 shares of company stock valued at $114,090,933 in the last ninety days.

Institutional Investors Weigh In On Talen Energy

A number of institutional investors have recently added to or reduced their stakes in TLN. Third Point LLC acquired a new position in shares of Talen Energy in the 1st quarter worth approximately $116,807,000. Norges Bank bought a new position in Talen Energy during the second quarter valued at about $168,188,000. Fred Alger Management LLC grew its position in Talen Energy by 152.9% during the fourth quarter. Fred Alger Management LLC now owns 954,747 shares of the utilities provider's stock valued at $192,353,000 after buying an additional 577,257 shares during the period. State Street Corp grew its position in Talen Energy by 151.0% during the second quarter. State Street Corp now owns 711,231 shares of the utilities provider's stock valued at $206,805,000 after buying an additional 427,910 shares during the period. Finally, PointState Capital LP bought a new position in Talen Energy during the first quarter valued at about $75,148,000. 0.38% of the stock is owned by institutional investors.

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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