Canadian Imperial Bank of Commerce Begins Coverage on Talen Energy (NASDAQ:TLN)

Equities research analysts at Canadian Imperial Bank of Commerce started coverage on shares of Talen Energy (NASDAQ:TLN) in a research report issued on Thursday, Marketbeat.com reports. The firm set a “sector outperform” rating and a $499.00 price target on the utilities provider’s stock. Canadian Imperial Bank of Commerce’s target price would suggest a potential upside of 40.64% from the stock’s previous close.

Several other brokerages have also recently issued reports on TLN. New Street Research set a $405.00 target price on shares of Talen Energy in a report on Monday, August 24th. The Goldman Sachs Group reiterated a “buy” rating and set a $509.00 price target on shares of Talen Energy in a research note on Monday, August 10th. Zacks Research lowered shares of Talen Energy from a “strong-buy” rating to a “hold” rating in a research note on Thursday, August 27th. Susquehanna set a $449.00 price target on shares of Talen Energy in a research report on Friday, August 7th. Finally, Weiss Ratings downgraded shares of Talen Energy from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, August 18th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $463.08.

Talen Energy Price Performance

TLN stock opened at $354.81 on Thursday. The business has a 50 day moving average price of $324.05 and a 200 day moving average price of $350.29. The company has a quick ratio of 0.55, a current ratio of 0.78 and a debt-to-equity ratio of 5.82. The stock has a market cap of $17.00 billion, a price-to-earnings ratio of -85.09 and a beta of 1.82. Talen Energy has a fifty-two week low of $279.77 and a fifty-two week high of $449.84.

Talen Energy (NASDAQ:TLN) last announced its quarterly earnings results on Wednesday, August 5th. The utilities provider reported ($2.00) EPS for the quarter, missing the consensus estimate of $3.21 by ($5.21). Talen Energy had a negative net margin of 5.38% and a positive return on equity of 43.32%. The company had revenue of $959.00 million during the quarter, compared to analysts’ expectations of $832.81 million. Equities research analysts anticipate that Talen Energy will post 21.99 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Talen Energy

A number of hedge funds have recently modified their holdings of TLN. IFP Advisors Inc increased its holdings in shares of Talen Energy by 1,765.4% in the 3rd quarter. IFP Advisors Inc now owns 5,708 shares of the utilities provider’s stock valued at $1,785,000 after purchasing an additional 5,402 shares in the last quarter. Vanguard Capital Wealth Advisors acquired a new stake in shares of Talen Energy in the third quarter valued at about $578,000. Hudock Inc. lifted its stake in shares of Talen Energy by 24.7% in the third quarter. Hudock Inc. now owns 984 shares of the utilities provider’s stock valued at $308,000 after purchasing an additional 195 shares during the period. Fortitude Family Office LLC purchased a new stake in Talen Energy during the third quarter worth about $37,000. Finally, Sanders Morris Harris LLC purchased a new stake in Talen Energy during the third quarter worth about $4,564,000. 0.38% of the stock is currently owned by hedge funds and other institutional investors.

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.