Talen Energy (NASDAQ:TLN) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Talen Energy from “hold” to “sell,” contrasting with the broader analyst consensus of “Moderate Buy” and an average price target of $475.75.
• Talen Energy shares opened at $347.71, up 2.8%, but remain below their 52-week high of $451.28. The company’s latest quarterly results missed expectations, reporting a $2.00 loss per share versus the projected $3.21 profit and revenue of $747 million versus $832.81 million expected.
• Director Gizman I. Abbas sold 2,600 shares worth approximately $988,000, reducing his holdings by nearly half; insiders own 0.78% of the company.

Talen Energy (NASDAQ:TLN - Get Free Report) was downgraded by Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued to clients and investors on Saturday.

TLN has been the subject of several other reports. Barclays dropped their target price on shares of Talen Energy from $411.00 to $408.00 and set an "overweight" rating for the company in a research report on Tuesday, July 28th. Morgan Stanley restated an "overweight" rating and set a $508.00 price objective on shares of Talen Energy in a research report on Wednesday, June 24th. 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. Zacks Research raised Talen Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Finally, Raymond James Financial restated an "outperform" rating and set a $457.00 price objective on shares of Talen Energy in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $475.75.

Talen Energy Stock Up 2.8%

Shares of NASDAQ TLN opened at $347.71 on Friday. The company has a debt-to-equity ratio of 5.82, a quick ratio of 1.05 and a current ratio of 0.78. Talen Energy has a 52 week low of $301.45 and a 52 week high of $451.28. The stock has a market capitalization of $16.66 billion, a P/E ratio of -83.38 and a beta of 1.90. The stock's fifty day moving average is $373.84 and its 200 day moving average is $358.70.

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 firm had revenue of $747.00 million for the quarter, compared to the consensus estimate 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 forecast that Talen Energy will post 27.82 earnings per share for the current fiscal year.

Insider Transactions at Talen Energy

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the sale, the director owned 2,606 shares of the company's stock, valued at approximately $990,280. This trade represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.78% of the company's stock.

Institutional Trading of Talen Energy

Several hedge funds have recently bought and sold shares of TLN. BlackRock Inc. bought a new position in shares of Talen Energy in the second quarter valued at approximately $1,673,803,000. State Street Corp grew its holdings in Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after buying an additional 627,467 shares in the last quarter. Norges Bank bought a new stake in Talen Energy during the fourth quarter worth $225,930,000. Invesco Ltd. raised its position in Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider's stock valued at $452,189,000 after buying an additional 464,014 shares during the last quarter. Finally, Sachem Head Capital Management LP raised its position in Talen Energy by 72.4% in the 4th quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider's stock valued at $374,840,000 after buying an additional 420,000 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Company Profile

Talen Energy Inc is an independent power producer that develops and operates a diversified portfolio of thermal and renewable generation facilities across the United States. The company supplies wholesale electricity and related services to utilities, large industrial customers, and power marketers, participating actively in regional markets such as PJM Interconnection and the Electric Reliability Council of Texas (ERCOT). Talen's asset base comprises a mix of natural gas-fired, coal-fired and nuclear generation, supplemented by battery storage and other flexible resources designed to support the evolving needs of the grid.

Established in December 2015 through the combination of the competitive generation businesses previously held by two major utility groups, Talen Energy was structured as a standalone, publicly traded entity on the NASDAQ stock exchange (TLN).

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