Talen Energy (NASDAQ:TLN) Coverage Initiated at Scotiabank

Equities researchers at Scotiabank assumed coverage on shares of Talen Energy (NASDAQ:TLN) in a research note issued on Monday, MarketBeat Ratings reports. The firm set a “sector perform” rating and a $418.00 price target on the utilities provider’s stock. Scotiabank’s price objective would suggest a potential downside of 1.21% from the stock’s previous close.

Other equities analysts have also issued research reports about the stock. Morgan Stanley upped their target price on shares of Talen Energy from $330.00 to $430.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 10th. Raymond James Financial initiated coverage on shares of Talen Energy in a research report on Friday, June 13th. They set an “outperform” rating and a $314.00 target price for the company. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, September 18th. UBS Group set a $431.00 target price on shares of Talen Energy and gave the stock a “buy” rating in a research report on Friday, July 25th. Finally, Barclays upped their target price on shares of Talen Energy from $418.00 to $440.00 and gave the stock an “overweight” rating in a research report on Thursday, September 11th. Fifteen investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Talen Energy currently has a consensus rating of “Moderate Buy” and an average target price of $358.53.

Talen Energy Stock Performance

TLN opened at $423.13 on Monday. The firm has a market cap of $19.33 billion, a P/E ratio of 119.87, a PEG ratio of 2.27 and a beta of 1.89. Talen Energy has a 1-year low of $148.02 and a 1-year high of $430.71. The company has a 50 day simple moving average of $372.91 and a two-hundred day simple moving average of $283.18. The company has a debt-to-equity ratio of 2.39, a current ratio of 1.84 and a quick ratio of 1.34.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The business had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. Equities analysts forecast that Talen Energy will post 15.94 earnings per share for the current fiscal year.

Insider Transactions at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This represents a 3.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLN. Third Point LLC bought a new position in Talen Energy during the 1st quarter worth about $116,807,000. Norges Bank bought a new position in Talen Energy during the 2nd quarter worth about $168,188,000. Fred Alger Management LLC grew its holdings in 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 acquiring an additional 537,398 shares in the last quarter. State Street Corp boosted its holdings in shares of Talen Energy by 151.0% in the 2nd quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock valued at $206,805,000 after buying an additional 427,910 shares in the last quarter. Finally, PointState Capital LP purchased a new position in shares of Talen Energy in the 1st quarter worth approximately $75,148,000. 0.38% of the stock is currently owned by institutional investors.

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.