Evercore ISI Raises Talen Energy (NASDAQ:TLN) Price Target to $450.00

Key Points

• Evercore ISI has raised Talen Energy's price target from $410.00 to $450.00, indicating a potential upside of 14.07% from its current price, while maintaining an "outperform" rating for the stock.
• In its latest quarterly earnings report, Talen Energy exceeded estimates by reporting $1.50 earnings per share against a consensus estimate of ($1.13), alongside revenue of $630 million that also surpassed expectations.
• Fifteen investment analysts have rated Talen Energy as a "Buy," with an average price target of $334.93, reflecting strong confidence in the company's stock performance going forward.

Talen Energy (NASDAQ:TLN - Get Free Report) had its price target lifted by stock analysts at Evercore ISI from $410.00 to $450.00 in a research report issued to clients and investors on Tuesday, Marketbeat reports. The brokerage currently has an "outperform" rating on the utilities provider's stock. Evercore ISI's price target would suggest a potential upside of 11.79% from the company's previous close.

Several other equities analysts have also recently issued reports on the stock. Raymond James Financial assumed coverage on shares of Talen Energy in a research note on Friday, June 13th. They issued an "outperform" rating and a $314.00 price objective on the stock. Oppenheimer set a $315.00 target price on shares of Talen Energy and gave the stock an "outperform" rating in a research report on Friday, July 11th. Morgan Stanley boosted their target price on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a research report on Friday, July 18th. Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research report on Monday, August 11th. Finally, Susquehanna reiterated an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Fifteen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, Talen Energy presently has a consensus rating of "Buy" and an average target price of $354.29.

Talen Energy Stock Up 0.4%

Talen Energy stock traded up $1.61 during trading on Tuesday, reaching $402.53. The stock had a trading volume of 435,205 shares, compared to its average volume of 1,161,560. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. Talen Energy has a 52-week low of $148.02 and a 52-week high of $410.00. The business has a 50 day moving average price of $353.19 and a 200 day moving average price of $272.30. The stock has a market cap of $18.39 billion, a PE ratio of 114.03, a P/E/G ratio of 1.92 and a beta of 1.89.

Talen Energy (NASDAQ:TLN - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, topping analysts' consensus estimates of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. The company had revenue of $630.00 million for the quarter, compared to analysts' expectations of $481.48 million. On average, analysts predict that Talen Energy will post 15.94 EPS for the current year.

Insiders Place Their Bets

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the transaction, the insider owned 5,734,970 shares of the company's stock, valued at $1,697,780,518.80. This represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 388,530 shares of company stock valued at $114,090,933. Insiders own 0.18% of the company's stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of TLN. Russell Investments Group Ltd. increased its position in Talen Energy by 75.8% during the 1st quarter. Russell Investments Group Ltd. now owns 17,502 shares of the utilities provider's stock worth $3,495,000 after purchasing an additional 7,547 shares in the last quarter. Crescent Grove Advisors LLC acquired a new stake in Talen Energy during the 1st quarter worth approximately $285,000. Thoroughbred Financial Services LLC acquired a new stake in Talen Energy during the 1st quarter worth approximately $756,000. TCW Group Inc. purchased a new position in Talen Energy in the 1st quarter worth approximately $9,266,000. Finally, Principal Financial Group Inc. boosted its holdings in Talen Energy by 114.9% in the 1st quarter. Principal Financial Group Inc. now owns 3,591 shares of the utilities provider's stock worth $717,000 after acquiring an additional 1,920 shares during the period. Institutional investors and hedge funds own 0.38% of the company's stock.

About Talen Energy

Talen Energy Corporation is a U.S.-based energy and power generation company. The Company owns or controls approximately 16,000 megawatts of capacity in wholesale power markets, principally in the Northeast, Mid-Atlantic and Southwest regions of the United States. The Company generates and sells electricity, capacity and related products from power plants that use fuel sources, such as nuclear, natural gas and coal.