Talen Energy (NASDAQ:TLN) Now Covered by Analysts at Mizuho

Stock analysts at Mizuho began coverage on shares of Talen Energy (NASDAQ:TLN) in a note issued to investors on Monday,Benzinga reports. The brokerage set an “outperform” rating and a $405.00 price target on the utilities provider’s stock. Mizuho’s price objective would indicate a potential upside of 28.79% from the stock’s previous close.

TLN has been the subject of several other reports. New Street Research set a $405.00 target price on Talen Energy in a report on Monday. Wall Street Zen cut Talen Energy from a “hold” rating to a “sell” rating in a research report on Saturday, August 8th. Weiss Ratings downgraded Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Scotiabank lifted their target price on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a research note on Wednesday, July 15th. Finally, Barclays cut their price target on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a report on Tuesday, July 28th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $466.86.

Talen Energy Price Performance

Talen Energy stock opened at $314.46 on Monday. 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 5.82, a quick ratio of 0.55 and a current ratio of 0.78. The firm’s 50-day simple moving average is $369.15 and its 200 day simple moving average is $357.29. The stock has a market cap of $15.07 billion, a PE ratio of -75.41 and a beta of 1.90.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The firm had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $832.81 million. Research analysts predict that Talen Energy will post 25.07 EPS for the current fiscal year.

Insider Activity at Talen Energy

In other news, Director Gizman I. Abbas sold 2,600 shares of the 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 owned 2,606 shares in the company, valued at approximately $990,280. This represents a 49.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.78% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Talen Energy

Institutional investors have recently added to or reduced their stakes in the business. California State Teachers Retirement System boosted its position in Talen Energy by 39,750.4% during the second quarter. California State Teachers Retirement System now owns 18,232,753 shares of the utilities provider’s stock worth $7,006,118,000 after purchasing an additional 18,187,000 shares during the period. BlackRock Inc. purchased a new position in shares of Talen Energy in the second quarter worth about $1,673,803,000. MFN Partners Management LP bought a new stake in shares of Talen Energy in the second quarter valued at approximately $1,152,780,000,000. 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 purchasing an additional 627,467 shares during the period. Finally, Norges Bank purchased a new stake in shares of Talen Energy during the 4th quarter valued at approximately $225,930,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

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).