Wells Fargo & Company Increases Talen Energy (NASDAQ:TLN) Price Target to $501.00

Talen Energy (NASDAQ:TLN) had its price target increased by investment analysts at Wells Fargo & Company from $482.00 to $501.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s target price would suggest a potential upside of 44.09% from the company’s previous close.

Several other brokerages have also recently weighed in on TLN. Scotiabank increased their price target on Talen Energy from $463.00 to $470.00 and gave the company a “sector perform” rating in a research note on Wednesday, July 15th. The Goldman Sachs Group initiated coverage on shares of Talen Energy in a research note on Thursday, June 18th. They set a “buy” rating and a $499.00 target price for the company. Zacks Research upgraded Talen Energy from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 29th. Barclays lowered their price objective on 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, Morgan Stanley reissued an “overweight” rating and issued a $508.00 price objective on shares of Talen Energy in a research note on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $475.75.

Talen Energy Trading Up 2.8%

TLN opened at $347.71 on Thursday. The company has a debt-to-equity ratio of 5.82, a current ratio of 0.78 and a quick ratio of 1.05. Talen Energy has a fifty-two week low of $301.45 and a fifty-two week high of $451.28. The firm has a market capitalization of $16.66 billion, a price-to-earnings ratio of -83.38 and a beta of 1.90. The company’s 50 day moving average price is $373.84 and its two-hundred day moving average price is $358.70.

Talen Energy (NASDAQ:TLN) last announced its 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 company had revenue of $747.00 million for the quarter, compared to the consensus estimate of $832.81 million. Talen Energy had a positive return on equity of 43.32% and a negative net margin of 5.38%. As a group, research analysts predict that Talen Energy will post 27.82 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Gizman I. Abbas sold 2,600 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were 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 in the company, valued at approximately $990,280. This represents a 49.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.78% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Flagship Harbor Advisors LLC bought a new stake in shares of Talen Energy during the fourth quarter valued at approximately $27,000. Advisory Services Network LLC bought a new position in shares of Talen Energy in the 3rd quarter worth $35,000. Northwestern Mutual Wealth Management Co. grew its position in Talen Energy by 1,500.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 96 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 90 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in Talen Energy in the 2nd quarter valued at $38,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in Talen Energy during the 4th quarter valued at $39,000. 0.38% of the stock is owned by institutional investors and hedge funds.

About Talen Energy

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).