Talen Energy (NASDAQ:TLN) Now Covered by BNP Paribas Exane

BNP Paribas Exane initiated coverage on shares of Talen Energy (NASDAQ:TLN) in a report issued on Wednesday, Marketbeat reports. The firm issued an outperform rating and a $548.00 target price on the utilities provider’s stock.

TLN has been the subject of a number of other research reports. Barclays decreased their price target on Talen Energy from $457.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, February 11th. Weiss Ratings lowered shares of Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Morgan Stanley set a $474.00 target price on shares of Talen Energy in a report on Friday, February 20th. Finally, Wells Fargo & Company lifted their target price on shares of Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 20th. Twelve analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Talen Energy currently has an average rating of “Moderate Buy” and a consensus target price of $439.92.

Talen Energy Stock Performance

TLN opened at $338.60 on Wednesday. The company has a quick ratio of 1.02, a current ratio of 1.28 and a debt-to-equity ratio of 6.20. The firm has a market cap of $15.47 billion, a PE ratio of -68.54, a P/E/G ratio of 0.47 and a beta of 1.94. The business has a fifty day simple moving average of $356.72 and a 200-day simple moving average of $379.60. Talen Energy has a fifty-two week low of $162.31 and a fifty-two week high of $451.28.

Hedge Funds Weigh In On Talen Energy

A number of hedge funds have recently modified their holdings of TLN. Vanguard Group Inc. increased its position in Talen Energy by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock worth $1,924,061,000 after purchasing an additional 117,266 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Talen Energy by 8.4% during the 4th quarter. Fred Alger Management LLC now owns 1,804,094 shares of the utilities provider’s stock valued at $676,247,000 after buying an additional 140,345 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in shares of Talen Energy by 7.9% during the 4th quarter. Reaves W H & Co. Inc. now owns 1,521,697 shares of the utilities provider’s stock valued at $570,393,000 after buying an additional 111,160 shares during the last quarter. Invesco Ltd. grew its stake in shares of Talen Energy by 35.6% in the 4th quarter. Invesco Ltd. now owns 1,441,381 shares of the utilities provider’s stock valued at $540,287,000 after buying an additional 378,357 shares in the last quarter. Finally, State Street Corp increased its holdings in Talen Energy by 88.2% in the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after buying an additional 627,467 shares during the last quarter. 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).