Talen Energy Corporation (NASDAQ:TLN – Get Free Report)’s share price crossed above its two hundred day moving average during trading on Tuesday following a better than expected earnings announcement. The stock has a two hundred day moving average of $349.27 and traded as high as $365.92. Talen Energy shares last traded at $357.28, with a volume of 2,188,293 shares.
The utilities provider reported $2.88 earnings per share for the quarter, missing the consensus estimate of $8.33 by ($5.45). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The company had revenue of $1.33 billion for the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the firm posted $4.25 earnings per share.
Analysts Set New Price Targets
Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on Talen Energy from $501.00 to $479.00 and set an “overweight” rating on the stock in a report on Wednesday, October 28th. Bank of America reiterated a “buy” rating on shares of Talen Energy in a research report on Tuesday, October 27th. Jefferies Financial Group dropped their price target on Talen Energy from $453.00 to $422.00 and set a “hold” rating for the company in a research note on Monday, July 20th. Mizuho assumed coverage on Talen Energy in a report on Monday, August 24th. They set an “outperform” rating and a $405.00 price target for the company. Finally, Zacks Research downgraded Talen Energy from a “hold” rating to a “strong sell” rating in a research note on Thursday, October 22nd. Twelve equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, Talen Energy presently has an average rating of “Moderate Buy” and an average target price of $458.69.
View Our Latest Research Report on TLN
Institutional Investors Weigh In On Talen Energy
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in shares of Talen Energy in the 2nd quarter worth $1,673,803,000. MFN Partners Management LP bought a new position in shares of Talen Energy during the 2nd quarter worth $1,152,780,000. Carronade Capital Management LP increased its stake in shares of Talen Energy by 11.6% during the first quarter. Carronade Capital Management LP now owns 644,484 shares of the utilities provider’s stock valued at $205,739,000 after buying an additional 67,245 shares during the period. Two Seas Capital LP purchased a new position in shares of Talen Energy during the second quarter valued at $194,900,000. Finally, William Blair Investment Management LLC bought a new stake in shares of Talen Energy in the second quarter valued at about $191,231,000. Institutional investors own 0.38% of the company’s stock.
Talen Energy Price Performance
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 firm has a fifty day moving average of $325.95 and a two-hundred day moving average of $349.27. The stock has a market capitalization of $17.12 billion, a P/E ratio of -85.68 and a beta of 1.77.
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.
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