Talen Energy (NASDAQ:TLN) Upgraded to Strong-Buy at Canadian Imperial Bank of Commerce

Canadian Imperial Bank of Commerce upgraded shares of Talen Energy (NASDAQ:TLN) to a strong-buy rating in a report released on Thursday morning,Zacks reports.

A number of other research analysts also recently issued reports on the stock. Zacks Research downgraded shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 27th. Wall Street Zen downgraded shares of Talen Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Wells Fargo & Company increased their price objective on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a report on Thursday, August 6th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $509.00 price objective on shares of Talen Energy in a research note on Monday, August 10th. Finally, BNP Paribas Exane reaffirmed an “outperform” rating and set a $560.00 target price on shares of Talen Energy in a report on Wednesday, August 19th. One equities research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $463.08.

Talen Energy Trading Up 0.3%

Shares of NASDAQ TLN traded up $1.21 during midday trading on Thursday, hitting $354.81. The stock had a trading volume of 737,500 shares, compared to its average volume of 1,181,225. The firm has a market cap of $17.00 billion, a P/E ratio of -85.09 and a beta of 1.82. Talen Energy has a fifty-two week low of $279.77 and a fifty-two week high of $449.84. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 0.55. The company’s 50-day simple moving average is $324.05 and its 200 day simple moving average is $350.03.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) earnings per share (EPS) for the quarter, missing the consensus estimate of $3.21 by ($5.21). The firm had revenue of $959.00 million for the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Research analysts anticipate that Talen Energy will post 21.99 EPS for the current year.

Institutional Investors Weigh In On Talen Energy

Several hedge funds have recently bought and sold shares of TLN. Vanguard Capital Wealth Advisors acquired a new position in shares of Talen Energy in the 3rd quarter valued at $578,000. Hudock Inc. raised its stake in Talen Energy by 24.7% during the 3rd quarter. Hudock Inc. now owns 984 shares of the utilities provider’s stock worth $308,000 after buying an additional 195 shares during the period. Fortitude Family Office LLC bought a new position in Talen Energy during the third quarter worth about $37,000. Sanders Morris Harris LLC bought a new position in Talen Energy during the third quarter worth about $4,564,000. Finally, Generate Investment Management Ltd acquired a new position in Talen Energy in the third quarter valued at about $31,269,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

About Talen Energy

Talen Energy Corporation (NASDAQ: TLN) is an independent power producer that owns and operates a portfolio of electricity-generation facilities in the United States. The company supplies power and related services to wholesale electricity markets, utilities, commercial customers and other counterparties.

Talen’s generation portfolio includes the Susquehanna nuclear power plant in Pennsylvania, one of the largest nuclear facilities in the country, as well as natural gas-fired and other generating assets.