Talen Energy (NASDAQ:TLN) Stock Gets Price Target Reduction from Wells Fargo & Company

Talen Energy (NASDAQ:TLN) had its price objective decreased by Wells Fargo & Company from $501.00 to $479.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the utilities provider’s stock.

Other equities analysts have also issued research reports about the stock. Zacks Research lowered shares of Talen Energy from a “hold” rating to a “strong sell” rating in a report on Thursday, October 22nd. Mizuho began coverage on Talen Energy in a research note on Monday, August 24th. They set an “outperform” rating and a $405.00 target price for the company. Barclays lowered their target price on Talen Energy from $408.00 to $387.00 and set an “overweight” rating for the company in a research note on Tuesday. Weiss Ratings lowered Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, August 18th. Finally, Jefferies Financial Group cut their price target on Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research note on Monday, July 20th. Twelve investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $458.69.

Talen Energy Stock Down 1.6%

NASDAQ TLN opened at $343.12 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. Talen Energy has a fifty-two week low of $279.77 and a fifty-two week high of $449.84. The business has a 50 day moving average price of $324.54 and a two-hundred day moving average price of $349.58. The stock has a market cap of $16.44 billion, a PE ratio of -82.28 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 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 analysts’ expectations of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. As a group, sell-side analysts predict that Talen Energy will post 18.02 EPS for the current fiscal year.

Institutional Trading of Talen Energy

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oppenheimer Asset Management Inc. bought a new stake in shares of Talen Energy during the 2nd quarter valued at about $4,132,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Talen Energy during the second quarter worth about $5,118,000. Tidal Investments LLC lifted its holdings in Talen Energy by 84.7% in the second quarter. Tidal Investments LLC now owns 46,686 shares of the utilities provider’s stock worth $17,940,000 after acquiring an additional 21,406 shares during the last quarter. Silicon Valley Capital Partners bought a new position in Talen Energy in the second quarter worth about $2,386,000. Finally, Ninepoint Partners LP bought a new position in Talen Energy in the second quarter worth about $1,694,000. Institutional investors own 0.38% of the company’s stock.

About Talen Energy

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.