Talen Energy (NASDAQ:TLN) Stock Rated “Buy” in New Coverage at HSBC

HSBC started coverage on shares of Talen Energy (NASDAQ:TLN) in a research note published on Thursday, MarketBeat.com reports. The firm issued a buy rating and a $444.30 price objective on the utilities provider’s stock.

Other equities research analysts have also recently issued reports about the company. Zacks Research cut Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Weiss Ratings lowered Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Mizuho initiated coverage on Talen Energy in a research report on Monday, August 24th. They set an “outperform” rating and a $405.00 price objective for the company. Scotiabank boosted their target price on shares of Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a report on Wednesday, July 15th. Finally, Susquehanna set a $449.00 target price on shares of Talen Energy in a research report on Friday, August 7th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $461.95.

Talen Energy Stock Performance

Talen Energy stock opened at $327.91 on Thursday. Talen Energy has a fifty-two week low of $279.77 and a fifty-two week high of $449.84. The stock’s 50 day simple moving average is $322.69 and its two-hundred day simple moving average is $350.75. The company has a debt-to-equity ratio of 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The stock has a market cap of $15.71 billion, a price-to-earnings ratio of -78.64 and a beta of 1.82.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by ($5.21). The firm had revenue of $959.00 million during 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%. As a group, analysts expect that Talen Energy will post 21.15 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Talen Energy

Several large investors have recently made changes to their positions in the business. Evergreen Capital Management LLC boosted its position in shares of Talen Energy by 8.0% in the 3rd quarter. Evergreen Capital Management LLC now owns 1,397 shares of the utilities provider’s stock worth $437,000 after purchasing an additional 103 shares in the last quarter. RWC Asset Management LLP increased its position in Talen Energy by 19.8% during the 3rd quarter. RWC Asset Management LLP now owns 50,306 shares of the utilities provider’s stock valued at $15,730,000 after buying an additional 8,312 shares in the last quarter. Sterling Capital Management LLC increased its position in Talen Energy by 1,781.5% during the 3rd quarter. Sterling Capital Management LLC now owns 11,571 shares of the utilities provider’s stock valued at $3,618,000 after buying an additional 10,956 shares in the last quarter. Inspire Investing LLC increased its position in Talen Energy by 17.1% during the 3rd quarter. Inspire Investing LLC now owns 2,497 shares of the utilities provider’s stock valued at $781,000 after buying an additional 365 shares in the last quarter. Finally, Crescent Grove Advisors LLC increased its position in Talen Energy by 80.1% during the 3rd quarter. Crescent Grove Advisors LLC now owns 1,255 shares of the utilities provider’s stock valued at $392,000 after buying an additional 558 shares in the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

Talen Energy Company Profile

Talen Energy Corporation (NASDAQ:TLN) is an independent power producer that owns and operates power generation and energy infrastructure assets in the United States. The company sells electricity, capacity and ancillary services into wholesale power markets, serving utilities, commercial and industrial customers, and other energy market participants.

Talen’s generation portfolio includes nuclear, natural gas and other power assets. Its Susquehanna nuclear power station in Pennsylvania is a central part of the company’s operations, and Talen has also pursued energy infrastructure projects designed to support large-scale electricity users, including data centers and other technology-related facilities.

The company was formed in 2015 through the separation of competitive power generation assets from PPL Corporation.