Talen Energy (NASDAQ:TLN – Get Free Report) had its target price hoisted by stock analysts at Wells Fargo & Company from $482.00 to $501.00 in a report issued on Thursday,Benzinga reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 46.85% from the company’s current price.
Other equities research analysts have also issued research reports about the company. Barclays cut their target price on Talen Energy from $411.00 to $408.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 28th. Zacks Research raised shares of Talen Energy from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 29th. Scotiabank raised their price objective on Talen Energy from $463.00 to $470.00 and gave the stock a “sector perform” rating in a report on Wednesday, July 15th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Talen Energy in a research report on Tuesday. Finally, Raymond James Financial reissued an “outperform” rating and issued a $457.00 target price on shares of Talen Energy in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $478.18.
Get Our Latest Stock Report on Talen Energy
Talen Energy Stock Up 3.4%
Talen Energy (NASDAQ:TLN – Get Free Report) last issued its earnings results on Wednesday, August 5th. The utilities provider reported $0.16 EPS for the quarter, missing analysts’ consensus estimates of $3.21 by ($3.05). The firm had revenue of $747.00 million for the quarter, compared to analyst estimates of $832.81 million. Talen Energy had a positive return on equity of 41.58% and a negative net margin of 0.63%. Equities research analysts expect that Talen Energy will post 25.62 earnings per share for the current year.
Insider Buying and Selling at Talen Energy
In related news, Director Gizman I. Abbas sold 2,600 shares of the firm’s stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $380.00, for a total transaction of $988,000.00. Following the transaction, the director owned 2,606 shares of the company’s stock, valued at $990,280. This trade represents a 49.94% decrease in their ownership of the stock. 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 Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of TLN. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Talen Energy by 1,526.3% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,054 shares of the utilities provider’s stock worth $9,766,000 after acquiring an additional 24,452 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Talen Energy by 400.5% in the 4th quarter. Oppenheimer & Co. Inc. now owns 14,105 shares of the utilities provider’s stock valued at $5,287,000 after purchasing an additional 11,287 shares in the last quarter. Sanctuary Advisors LLC raised its holdings in Talen Energy by 116.8% during the fourth quarter. Sanctuary Advisors LLC now owns 6,454 shares of the utilities provider’s stock worth $2,419,000 after purchasing an additional 3,477 shares during the last quarter. Massachusetts Financial Services Co. MA purchased a new stake in Talen Energy during the fourth quarter worth $50,324,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT grew its holdings in Talen Energy by 10.7% in the fourth quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT now owns 117,200 shares of the utilities provider’s stock valued at $43,931,000 after purchasing an additional 11,300 shares during the last quarter. 0.38% of the stock is currently owned by hedge funds and other institutional investors.
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).
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