Wells Fargo & Company Has Lowered Expectations for Talen Energy (NASDAQ:TLN) Stock Price

Talen Energy (NASDAQ:TLN) had its price target decreased by research analysts at Wells Fargo & Company from $501.00 to $479.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target points to a potential upside of 38.29% from the company’s previous close.

Several other equities analysts have also weighed in on the stock. Susquehanna set a $449.00 price objective on shares of Talen Energy in a research report on Friday, August 7th. The Goldman Sachs Group restated a “buy” rating and set a $509.00 target price on shares of Talen Energy in a research note on Monday, August 10th. New Street Research set a $405.00 target price on shares of Talen Energy in a report on Monday, August 24th. Weiss Ratings lowered shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Finally, HSBC started coverage on shares of Talen Energy in a research note on Thursday, October 22nd. They issued a “buy” rating and a $444.30 price target on the stock. Twelve research analysts have rated the stock with a Buy rating, two have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, Talen Energy presently has a consensus rating of “Moderate Buy” and a consensus price target of $459.09.

Talen Energy Price Performance

TLN stock traded up $0.63 during trading hours on Wednesday, reaching $346.36. The stock had a trading volume of 124,590 shares, compared to its average volume of 854,080. The stock has a 50-day simple moving average of $322.89 and a 200 day simple moving average of $349.86. Talen Energy has a fifty-two week low of $279.77 and a fifty-two week high of $449.84. The stock has a market capitalization of $16.60 billion, a PE ratio of -83.04 and a beta of 1.82.

Talen Energy (NASDAQ:TLN) last posted its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing analysts’ consensus estimates of $3.21 by ($5.21). The company had revenue of $959.00 million during the quarter, compared to analyst estimates of $832.81 million. On average, sell-side analysts forecast that Talen Energy will post 21.15 EPS for the current fiscal year.

Institutional Trading of Talen Energy

A number of institutional investors have recently modified their holdings of TLN. Grove Bank & Trust grew its holdings in shares of Talen Energy by 40.5% during the 3rd quarter. Grove Bank & Trust now owns 104 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 30 shares in the last quarter. Ritholtz Wealth Management grew its stake in Talen Energy by 3.6% during the first quarter. Ritholtz Wealth Management now owns 1,045 shares of the utilities provider’s stock worth $334,000 after buying an additional 36 shares in the last quarter. BOKF NA grew its stake in Talen Energy by 1.8% during the third quarter. BOKF NA now owns 2,030 shares of the utilities provider’s stock worth $635,000 after buying an additional 36 shares in the last quarter. Compound Planning Inc. increased its holdings in Talen Energy by 5.7% in the 1st quarter. Compound Planning Inc. now owns 889 shares of the utilities provider’s stock valued at $284,000 after buying an additional 48 shares during the period. Finally, Ancora Advisors LLC increased its holdings in Talen Energy by 2.2% in the 2nd quarter. Ancora Advisors LLC now owns 2,273 shares of the utilities provider’s stock valued at $873,000 after buying an additional 50 shares during the period. 0.38% of the stock is currently owned by institutional investors.

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.