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

Key Points

• Wells Fargo raised its Talen Energy price target to $501 from $482 and maintained an “overweight” rating, implying 46.85% potential upside from the stock’s $341.16 price.
• Analyst sentiment remains favorable, with one Strong Buy, nine Buy and three Hold ratings; the consensus is “Moderate Buy” with an average price target of $478.18.
• Talen Energy shares rose 3.4% to $341.16, despite the company reporting quarterly EPS of $0.16—well below the $3.21 consensus—and revenue of $747 million versus estimates of $832.81 million.

Talen Energy (NASDAQ:TLN - Get Free Report) had its price target boosted by research analysts at Wells Fargo & Company from $482.00 to $501.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's target price points to a potential upside of 46.85% from the company's current price.

Other analysts have also issued reports about the stock. Zacks Research upgraded shares of Talen Energy from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 29th. Scotiabank upped their price objective on shares of Talen Energy from $463.00 to $470.00 and gave the stock a "sector perform" rating in a report on Wednesday, July 15th. The Goldman Sachs Group started coverage on shares of Talen Energy in a research report on Thursday, June 18th. They set a "buy" rating and a $499.00 price objective for the company. 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 report on Tuesday, July 28th. Finally, Morgan Stanley restated an "overweight" rating and set a $508.00 price target on shares of Talen Energy in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $478.18.

Talen Energy Trading Up 3.4%

TLN traded up $11.32 during trading hours on Thursday, reaching $341.16. The company's stock had a trading volume of 779,585 shares, compared to its average volume of 815,958. The stock has a market cap of $16.34 billion, a PE ratio of -508.34 and a beta of 1.90. Talen Energy has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The company has a debt-to-equity ratio of 6.32, a current ratio of 1.25 and a quick ratio of 1.05. The business's 50-day moving average is $375.49 and its 200-day moving average is $359.02.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by ($3.05). Talen Energy had a positive return on equity of 41.58% and a negative net margin of 0.63%.The business had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. As a group, equities research analysts predict that Talen Energy will post 25.62 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Gizman I. Abbas sold 2,600 shares of the firm's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.78% of the company's stock.

Institutional Investors Weigh In On Talen Energy

A number of hedge funds have recently added to or reduced their stakes in TLN. Fred Alger Management LLC increased its position in shares of Talen Energy by 8.4% during the fourth quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider's stock worth $676,247,000 after acquiring an additional 140,345 shares during the period. Reaves W H & Co. Inc. boosted its holdings in Talen Energy by 7.9% in the fourth quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider's stock valued at $570,393,000 after purchasing an additional 111,160 shares during the period. Invesco Ltd. grew its stake in Talen Energy by 35.6% during the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider's stock worth $540,287,000 after purchasing an additional 378,357 shares in the last quarter. State Street Corp increased its holdings in Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider's stock worth $569,455,000 after purchasing an additional 627,467 shares during the period. Finally, Geode Capital Management LLC raised its position in Talen Energy by 9.1% in the 4th quarter. Geode Capital Management LLC now owns 1,049,196 shares of the utilities provider's stock valued at $409,559,000 after purchasing an additional 87,784 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

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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