Talen Energy (NASDAQ:TLN) Upgraded to "Strong-Buy" at Zacks Research

Key Points

• Zacks Research upgraded Talen Energy to “Strong Buy” from “Hold,” citing improving earnings prospects ahead of the company’s upcoming results.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $476.45, despite several recent target reductions.
• Talen shares opened at $332.54, below the consensus target and their 52-week high of $451.28; a director also recently sold $988,000 worth of shares.

Talen Energy (NASDAQ:TLN - Get Free Report) was upgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

A number of other analysts have also recently weighed in on TLN. Wells Fargo & Company increased their price objective on Talen Energy from $477.00 to $482.00 and gave the stock an "overweight" rating in a research report on Monday. Scotiabank increased their price target on Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 15th. Barclays dropped their price objective on shares of Talen Energy from $411.00 to $408.00 and set an "overweight" rating on the stock in a research note on Tuesday. Jefferies Financial Group cut their price objective on shares of Talen Energy from $453.00 to $422.00 and set a "hold" rating for the company in a research report on Monday, July 20th. Finally, Morgan Stanley restated an "overweight" rating and issued a $508.00 target price on shares of Talen Energy in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $476.45.

Talen Energy Price Performance

Shares of NASDAQ:TLN opened at $332.54 on Wednesday. The company has a debt-to-equity ratio of 6.32, a quick ratio of 1.05 and a current ratio of 1.25. Talen Energy has a one year low of $301.45 and a one year high of $451.28. The company has a 50-day simple moving average of $378.79 and a 200-day simple moving average of $360.36. The stock has a market capitalization of $15.93 billion, a price-to-earnings ratio of -496.32 and a beta of 1.82.

Insider Transactions at Talen Energy

In related news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the completion of the transaction, the director directly owned 2,606 shares of the company's stock, valued at approximately $990,280. The trade was a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 0.78% of the company's stock.

Institutional Trading of Talen Energy

Institutional investors and hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in shares of Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock valued at $569,455,000 after buying an additional 627,467 shares during the last quarter. Norges Bank purchased a new stake in Talen Energy in the 4th quarter worth approximately $225,930,000. Invesco Ltd. grew its stake in Talen Energy by 77.5% in the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider's stock worth $452,189,000 after acquiring an additional 464,014 shares during the period. Sachem Head Capital Management LP raised its holdings 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 acquiring an additional 420,000 shares during the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Talen Energy by 183.3% in the 2nd quarter. Assenagon Asset Management S.A. now owns 434,728 shares of the utilities provider's stock valued at $167,049,000 after acquiring an additional 281,291 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy News Summary

Here are the key news stories impacting Talen Energy this week:

• Positive Sentiment: Zacks upgraded Talen Energy to Strong Buy, citing strengthening earnings prospects. The upgrade could attract additional buying ahead of the company’s upcoming results. All You Need to Know About Talen Energy Corporation Rating Upgrade to Strong Buy
• Positive Sentiment: Wall Street expects earnings growth in next week’s report, with Zacks indicating that Talen Energy has factors that could support an earnings beat. This is raising expectations ahead of the announcement, although it also creates execution risk if results disappoint. Talen Energy Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Wells Fargo and Goldman Sachs maintained Buy ratings on Talen Energy, reinforcing favorable institutional analyst sentiment. Wells Fargo Remains a Buy on Talen Energy Goldman Sachs Remains a Buy on Talen Energy
• Neutral Sentiment: Commentary identified TLN as positioned to benefit from long-term clean-energy demand, including renewable power growth and rising electricity needs from electric-vehicle adoption. The theme is supportive but does not represent a specific new contract or financial announcement. Talen Energy Powers a Fresh Market Story

About Talen Energy

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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