Talen Energy Corporation (NASDAQ:TLN) Receives $396.50 Average Target Price from Brokerages

Shares of Talen Energy Corporation (NASDAQ:TLN) have received a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are presently covering the firm, MarketBeat reports. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $396.50.

Several analysts have recently commented on the company. Scotiabank initiated coverage on Talen Energy in a research note on Monday, September 22nd. They issued a “sector perform” rating and a $418.00 target price for the company. Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, October 8th. Wells Fargo & Company cut their target price on Talen Energy from $453.00 to $445.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Zacks Research downgraded shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. Finally, Morgan Stanley restated an “overweight” rating and set a $443.00 price target on shares of Talen Energy in a research note on Tuesday, December 16th.

Talen Energy Stock Performance

NASDAQ:TLN opened at $376.86 on Friday. The company has a quick ratio of 1.72, a current ratio of 2.29 and a debt-to-equity ratio of 2.02. Talen Energy has a twelve month low of $158.08 and a twelve month high of $451.28. The company has a fifty day moving average of $374.39 and a 200-day moving average of $374.15. The firm has a market capitalization of $17.22 billion, a P/E ratio of 81.57, a P/E/G ratio of 0.58 and a beta of 1.97.

Talen Energy (NASDAQ:TLN) last issued its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business had revenue of $812.00 million for the quarter, compared to analyst estimates of $707.90 million. During the same period in the prior year, the firm earned $3.16 earnings per share. Talen Energy’s revenue was up 24.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Talen Energy will post 15.94 EPS for the current year.

Hedge Funds Weigh In On Talen Energy

Large investors have recently added to or reduced their stakes in the business. MAI Capital Management increased its holdings in Talen Energy by 115.7% during the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock worth $32,000 after purchasing an additional 59 shares in the last quarter. B. Riley Wealth Advisors Inc. boosted its position in shares of Talen Energy by 8.1% during the third quarter. B. Riley Wealth Advisors Inc. now owns 787 shares of the utilities provider’s stock valued at $335,000 after buying an additional 59 shares during the last quarter. Main Management ETF Advisors LLC grew its holdings in Talen Energy by 1.7% during the second quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the utilities provider’s stock worth $1,066,000 after buying an additional 60 shares in the last quarter. Wedbush Securities Inc. raised its position in Talen Energy by 4.8% in the 2nd quarter. Wedbush Securities Inc. now owns 1,379 shares of the utilities provider’s stock valued at $401,000 after buying an additional 63 shares during the last quarter. Finally, Assetmark Inc. raised its position in Talen Energy by 581.8% in the 3rd quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after buying an additional 64 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

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).