Talen Energy (NASDAQ:TLN) Downgraded to “Hold” Rating by Zacks Research

Zacks Research lowered shares of Talen Energy (NASDAQ:TLN) from a strong-buy rating to a hold rating in a research note published on Thursday,Zacks.com reports.

TLN has been the subject of a number of other research reports. Wall Street Zen lowered Talen Energy from a “hold” rating to a “sell” rating in a research note on Saturday, August 8th. Mizuho began coverage on Talen Energy in a research report on Monday, August 24th. They set an “outperform” rating and a $405.00 price target on the stock. BNP Paribas Exane restated an “outperform” rating and issued a $560.00 price target on shares of Talen Energy in a report on Wednesday, August 19th. Barclays lowered their price objective on shares of Talen Energy from $411.00 to $408.00 and set an “overweight” rating for the company in a research report on Tuesday, July 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Talen Energy from $482.00 to $501.00 and gave the company an “overweight” rating in a research note on Thursday, August 6th. Ten analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $466.86.

Talen Energy Stock Down 2.8%

Shares of Talen Energy stock opened at $296.11 on Thursday. Talen Energy has a twelve month low of $294.75 and a twelve month high of $451.28. The stock has a market cap of $14.19 billion, a price-to-earnings ratio of -71.01 and a beta of 1.90. The company has a current ratio of 0.78, a quick ratio of 0.55 and a debt-to-equity ratio of 5.82. The company has a fifty day moving average price of $358.05 and a 200 day moving average price of $356.13.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings data on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). The company had revenue of $747.00 million during the quarter, compared to analysts’ expectations of $832.81 million. Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. Equities research analysts forecast that Talen Energy will post 21.99 earnings per share for the current fiscal year.

Insider Activity

In other Talen Energy news, Director Gizman I. Abbas sold 2,600 shares of Talen Energy stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the sale, the director directly owned 2,606 shares in the company, valued at $990,280. The trade was a 49.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.78% of the company’s stock.

Institutional Investors Weigh In On Talen Energy

A number of institutional investors have recently modified their holdings of the stock. Continuum Advisory LLC acquired a new position in Talen Energy in the second quarter worth about $33,000. Advisory Services Network LLC acquired a new stake in Talen Energy during the third quarter valued at approximately $35,000. Northwestern Mutual Wealth Management Co. raised its stake in Talen Energy by 1,500.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after buying an additional 90 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Talen Energy during the second quarter valued at approximately $38,000. Finally, Bessemer Group Inc. lifted its holdings in Talen Energy by 404.0% during the 1st quarter. Bessemer Group Inc. now owns 126 shares of the utilities provider’s stock worth $41,000 after buying an additional 101 shares during the last quarter. Institutional investors and hedge funds own 0.38% of the company’s stock.

Talen Energy Company Profile

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).