Evercore ISI Forecasts Strong Price Appreciation for Talen Energy (NASDAQ:TLN) Stock

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 objective raised by equities research analysts at Evercore ISI from $410.00 to $450.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has an "outperform" rating on the utilities provider's stock. Evercore ISI's target price points to a potential upside of 14.07% from the company's current price.

TLN has been the subject of a number of other research reports. Raymond James Financial began coverage on shares of Talen Energy in a research report on Friday, June 13th. They set an "outperform" rating and a $314.00 target price for the company. Morgan Stanley raised their price target on shares of Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a research report on Friday, July 18th. Barclays raised their price target on shares of Talen Energy from $353.00 to $418.00 and gave the company an "overweight" rating in a research report on Wednesday, August 13th. Melius initiated coverage on shares of Talen Energy in a research note on Wednesday, August 20th. They issued a "buy" rating and a $427.00 price target on the stock. Finally, Jefferies Financial Group lifted their price target on Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Fifteen investment analysts have rated the stock with a Buy rating, According to MarketBeat, Talen Energy has a consensus rating of "Buy" and an average price target of $334.93.

Talen Energy Trading Up 2.9%

Talen Energy stock traded up $10.99 during trading hours on Tuesday, hitting $394.48. The company had a trading volume of 528,113 shares, compared to its average volume of 1,183,543. The company has a 50-day moving average price of $344.10 and a two-hundred day moving average price of $267.56. Talen Energy has a 1 year low of $145.05 and a 1 year high of $398.78. The firm has a market cap of $18.02 billion, a P/E ratio of 111.79, a P/E/G ratio of 2.68 and a beta of 1.89. The company has a debt-to-equity ratio of 2.39, a quick ratio of 1.34 and a current ratio of 1.84.

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

Insider Transactions at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction on Friday, June 27th. The stock was sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the sale, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This represents a 3.01% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last three months, insiders sold 388,530 shares of company stock valued at $114,090,933.

Institutional Trading of Talen Energy

A number of large investors have recently modified their holdings of TLN. Northern Trust Corp increased its stake in Talen Energy by 7.8% during the 4th quarter. Northern Trust Corp now owns 118,949 shares of the utilities provider's stock valued at $23,965,000 after buying an additional 8,626 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Talen Energy by 6.1% in the 4th quarter. Ameriprise Financial Inc. now owns 4,518 shares of the utilities provider's stock valued at $910,000 after buying an additional 261 shares in the last quarter. Cetera Investment Advisers bought a new stake in Talen Energy in the fourth quarter valued at about $490,000. Cresset Asset Management LLC bought a new stake in Talen Energy in the fourth quarter valued at about $312,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Talen Energy during the 4th quarter valued at about $422,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Company Profile

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.

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