BNP Paribas Exane Begins Coverage on Talen Energy (NASDAQ:TLN)

Research analysts at BNP Paribas Exane assumed coverage on shares of Talen Energy (NASDAQ:TLN) in a research report issued on Wednesday, Marketbeat.com reports. The firm set an “outperform” rating and a $548.00 price target on the utilities provider’s stock. BNP Paribas Exane’s target price points to a potential upside of 61.14% from the stock’s previous close.

A number of other equities analysts have also commented on TLN. Barclays lowered their price objective on Talen Energy from $457.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 11th. Wells Fargo & Company increased their target price on Talen Energy from $445.00 to $506.00 and gave the stock an “overweight” rating in a report on Tuesday, January 20th. Morgan Stanley set a $474.00 price target on Talen Energy in a research report on Friday, February 20th. Finally, Weiss Ratings downgraded Talen Energy from a “hold (c)” rating to a “sell (d+)” rating in a research note on Friday, February 27th. Twelve investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $438.17.

Talen Energy Stock Up 0.4%

NASDAQ TLN opened at $340.07 on Wednesday. The company has a current ratio of 1.28, a quick ratio of 1.02 and a debt-to-equity ratio of 6.20. The company has a market cap of $15.54 billion, a price-to-earnings ratio of -68.84, a PEG ratio of 0.49 and a beta of 1.94. The company has a 50 day moving average of $356.40 and a 200-day moving average of $379.32. Talen Energy has a 1-year low of $162.31 and a 1-year high of $451.28.

Institutional Investors Weigh In On Talen Energy

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Flagship Harbor Advisors LLC bought a new position in shares of Talen Energy in the 4th quarter valued at $27,000. Grove Bank & Trust bought a new stake in shares of Talen Energy during the 3rd quarter worth $32,000. Assetmark Inc. boosted its stake in Talen Energy by 581.8% in the third quarter. Assetmark Inc. now owns 75 shares of the utilities provider’s stock valued at $32,000 after buying an additional 64 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in Talen Energy in the third quarter valued at about $34,000. Finally, Advisory Services Network LLC bought a new position in Talen Energy in the third quarter valued at about $35,000. 0.38% of the stock is currently owned by 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).