Talen Energy (NASDAQ:TLN) Raised to “Strong-Buy” at Zacks Research

Talen Energy (NASDAQ:TLN) was upgraded by equities research analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Morgan Stanley reissued an “overweight” rating and set a $508.00 price objective on shares of Talen Energy in a research note on Wednesday, June 24th. Wells Fargo & Company lifted their price target on Talen Energy from $477.00 to $482.00 and gave the stock an “overweight” rating in a research note on Monday. Jefferies Financial Group dropped their target price on shares of Talen Energy from $453.00 to $422.00 and set a “hold” rating on the stock in a research report on Monday, July 20th. The Goldman Sachs Group began coverage on Talen Energy in a report on Thursday, June 18th. They set a “buy” rating and a $499.00 price target on the stock. Finally, Weiss Ratings raised Talen Energy from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $476.45.

Talen Energy Price Performance

Shares of Talen Energy stock opened at $332.54 on Wednesday. Talen Energy has a 52 week low of $301.45 and a 52 week high of $451.28. The stock has a market cap of $15.93 billion, a PE ratio of -496.32 and a beta of 1.82. The company’s 50-day moving average price is $378.79 and its two-hundred day moving average price is $360.36. The company has a current ratio of 1.25, a quick ratio of 1.05 and a debt-to-equity ratio of 6.32.

Insider Activity

In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction on Monday, June 15th. The shares were sold at an average price of $380.00, for a total value of $988,000.00. Following the transaction, the director directly owned 2,606 shares in the company, valued at approximately $990,280. This trade represents a 49.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.78% of the company’s stock.

Institutional Trading of Talen Energy

A number of institutional investors and hedge funds have recently modified their holdings of TLN. State Street Corp lifted its holdings in shares of Talen Energy by 88.2% during the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares during the period. Norges Bank acquired a new position in Talen Energy in the fourth quarter worth about $225,930,000. Invesco Ltd. lifted its stake in Talen Energy by 77.5% during the third quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock worth $452,189,000 after purchasing an additional 464,014 shares during the period. Sachem Head Capital Management LP lifted its stake in Talen Energy by 72.4% during the fourth quarter. Sachem Head Capital Management LP now owns 1,000,000 shares of the utilities provider’s stock worth $374,840,000 after purchasing an additional 420,000 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Talen Energy by 183.3% during the second quarter. Assenagon Asset Management S.A. now owns 434,728 shares of the utilities provider’s stock valued at $167,049,000 after purchasing an additional 281,291 shares in the last quarter. 0.38% of the stock is currently owned by institutional investors.

Talen Energy News Summary

Here are the key news stories impacting Talen Energy this week:

• Positive Sentiment: Zacks upgraded Talen Energy to Strong Buy, citing strengthening earnings prospects. The upgrade could attract additional buying ahead of the company’s upcoming results. All You Need to Know About Talen Energy Corporation Rating Upgrade to Strong Buy
• Positive Sentiment: Wall Street expects earnings growth in next week’s report, with Zacks indicating that Talen Energy has factors that could support an earnings beat. This is raising expectations ahead of the announcement, although it also creates execution risk if results disappoint. Talen Energy Reports Next Week: Wall Street Expects Earnings Growth
• Positive Sentiment: Wells Fargo and Goldman Sachs maintained Buy ratings on Talen Energy, reinforcing favorable institutional analyst sentiment. Wells Fargo Remains a Buy on Talen Energy Goldman Sachs Remains a Buy on Talen Energy
• Neutral Sentiment: Commentary identified TLN as positioned to benefit from long-term clean-energy demand, including renewable power growth and rising electricity needs from electric-vehicle adoption. The theme is supportive but does not represent a specific new contract or financial announcement. Talen Energy Powers a Fresh Market Story

About Talen Energy

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).