Morgan Stanley Boosts Talen Energy (NASDAQ:TLN) Price Target to $430.00

Key Points

• Morgan Stanley has raised the price target for Talen Energy (NASDAQ:TLN) from $330.00 to $430.00, indicating a potential upside of 6.25% from its current price.
• Talen Energy's stock has received positive ratings from multiple analysts, with fifteen analysts currently rating it as a Buy and an average target price of $342.07.
• The company reported strong quarterly earnings, with an EPS of $1.50, significantly beating expectations, and revenues of $630 million compared to the forecast of $481.48 million.

Talen Energy (NASDAQ:TLN - Get Free Report) had its price objective hoisted by equities researchers at Morgan Stanley from $330.00 to $430.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's target price would indicate a potential upside of 6.25% from the stock's current price.

Other equities analysts have also issued reports about the stock. Wall Street Zen upgraded shares of Talen Energy from a "sell" rating to a "hold" rating in a research report on Monday, August 11th. Susquehanna restated an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Barclays raised their target price on shares of Talen Energy from $353.00 to $418.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 13th. Raymond James Financial assumed 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 on the stock. Finally, Jefferies Financial Group increased 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 equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Talen Energy presently has an average rating of "Buy" and an average target price of $342.07.

Talen Energy Stock Performance

Shares of Talen Energy stock opened at $404.71 on Wednesday. The firm has a market capitalization of $18.49 billion, a P/E ratio of 114.52, a P/E/G ratio of 2.64 and a beta of 1.89. Talen Energy has a 52 week low of $148.02 and a 52 week high of $403.99. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. The firm's 50 day moving average is $346.29 and its two-hundred day moving average is $268.41.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, beating the consensus estimate of ($1.13) by $2.63. The company had revenue of $630.00 million for the quarter, compared to analyst estimates of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. Research analysts forecast that Talen Energy will post 15.94 EPS for the current fiscal year.

Insider Buying and Selling

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's 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 owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 388,530 shares of company stock valued at $114,090,933 over the last three months.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC raised its stake in shares of Talen Energy by 310.0% during the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after buying an additional 93 shares during the last quarter. Brooklyn Investment Group purchased a new stake in Talen Energy during the 1st quarter worth about $25,000. Atlantic Union Bankshares Corp purchased a new stake in Talen Energy during the 2nd quarter worth about $27,000. MAI Capital Management increased its position in Talen Energy by 115.7% during the 2nd quarter. MAI Capital Management now owns 110 shares of the utilities provider's stock worth $32,000 after purchasing an additional 59 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new stake in Talen Energy during the 1st quarter worth about $35,000. 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.

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