Wells Fargo & Company Cuts Talen Energy (NASDAQ:TLN) Price Target to $445.00

Talen Energy (NASDAQ:TLN) had its price objective trimmed by Wells Fargo & Company from $453.00 to $445.00 in a research report report published on Thursday,Benzinga reports. The brokerage currently has an overweight rating on the utilities provider’s stock.

Several other research firms have also recently weighed in on TLN. UBS Group set a $431.00 price objective on shares of Talen Energy and gave the stock a “buy” rating in a research report on Friday, July 25th. Barclays lowered their price target on Talen Energy from $440.00 to $439.00 and set an “overweight” rating on the stock in a report on Tuesday, October 21st. JPMorgan Chase & Co. upped their price target on Talen Energy from $432.00 to $442.00 and gave the company an “overweight” rating in a research report on Monday, October 20th. Jefferies Financial Group raised their price objective on Talen Energy from $326.00 to $380.00 and gave the stock a “buy” rating in a research report on Friday, July 18th. Finally, Wall Street Zen raised Talen Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 11th. Fourteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $395.07.

Talen Energy Trading Up 0.2%

Shares of TLN opened at $386.57 on Thursday. The business’s 50-day moving average price is $407.51 and its 200 day moving average price is $332.84. The company has a current ratio of 2.29, a quick ratio of 1.34 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $17.66 billion, a P/E ratio of 83.67, a P/E/G ratio of 2.36 and a beta of 1.83. Talen Energy has a 1-year low of $158.08 and a 1-year high of $451.28.

Talen Energy (NASDAQ:TLN) last announced its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 EPS for the quarter, topping the consensus estimate of $4.01 by $0.24. The company had revenue of $812.00 million during the quarter, compared to analysts’ expectations of $707.90 million. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same period last year, the company posted $3.16 earnings per share. Analysts expect that Talen Energy will post 15.94 earnings per share for the current year.

Institutional Investors Weigh In On Talen Energy

Several institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Talen Energy by 2.7% during the third quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock valued at $1,924,061,000 after acquiring an additional 117,266 shares in the last quarter. Fred Alger Management LLC increased its stake in shares of Talen Energy by 56.3% during the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock worth $297,937,000 after purchasing an additional 537,398 shares during the last quarter. Reaves W H & Co. Inc. raised its holdings in shares of Talen Energy by 12.6% during the 3rd quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock valued at $600,014,000 after purchasing an additional 158,047 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Talen Energy by 26.1% in the 2nd quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock valued at $231,150,000 after purchasing an additional 164,734 shares during the last quarter. Finally, Third Point LLC lifted its stake in shares of Talen Energy by 34.2% in the 2nd quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock valued at $228,254,000 after purchasing an additional 200,000 shares during the last quarter. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Company Profile

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.