Morgan Stanley Increases 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 target price hoisted by investment analysts at Morgan Stanley from $330.00 to $430.00 in a research note issued to investors on Wednesday, MarketBeat reports. The firm currently has an "overweight" rating on the utilities provider's stock. Morgan Stanley's price objective would suggest a potential upside of 5.06% from the stock's current price.

Several other equities analysts also recently weighed in on TLN. Raymond James Financial began coverage on Talen Energy in a research report on Friday, June 13th. They issued an "outperform" rating and a $314.00 target price on the stock. Wall Street Zen upgraded Talen Energy from a "sell" rating to a "hold" rating in a report on Monday, August 11th. UBS Group set a $431.00 target price on shares of Talen Energy and gave the stock a "buy" rating in a research note on Friday, July 25th. Oppenheimer set a $315.00 target price on shares of Talen Energy and gave the company an "outperform" rating in a research report on Friday, July 11th. Finally, Melius Research 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. Fifteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, Talen Energy has a consensus rating of "Buy" and an average target price of $354.29.

Talen Energy Price Performance

Shares of NASDAQ TLN traded up $6.75 during trading on Wednesday, hitting $409.28. The company had a trading volume of 245,771 shares, compared to its average volume of 1,172,433. The firm has a market capitalization of $18.70 billion, a price-to-earnings ratio of 115.61, a price-to-earnings-growth ratio of 1.93 and a beta of 1.89. The stock has a fifty day simple moving average of $353.19 and a two-hundred day simple moving average of $272.80. 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 fifty-two week low of $148.02 and a fifty-two week high of $411.36.

Talen Energy (NASDAQ:TLN - Get Free Report) last released 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. The firm had revenue of $630.00 million during the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a net margin of 8.75% and a return on equity of 17.81%. On average, research analysts expect that Talen Energy will post 15.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the stock in a transaction that occurred on Friday, June 27th. The shares were 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 $1,697,780,518.80. This represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders have sold 388,530 shares of company stock valued at $114,090,933.

Hedge Funds Weigh In On Talen Energy

Several large investors have recently modified their holdings of the business. Atlantic Union Bankshares Corp purchased a new stake in Talen Energy in the 2nd quarter valued at about $27,000. MAI Capital Management increased its position in shares of Talen Energy by 115.7% during the second quarter. MAI Capital Management now owns 110 shares of the utilities provider's stock valued at $32,000 after acquiring an additional 59 shares during the last quarter. Signaturefd LLC raised its stake in shares of Talen Energy by 310.0% in the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 93 shares during the period. Brooklyn Investment Group acquired a new position in shares of Talen Energy in the 1st quarter worth approximately $25,000. Finally, Golden State Wealth Management LLC boosted its position in shares of Talen Energy by 5,100.0% during the 2nd quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider's stock worth $45,000 after purchasing an additional 153 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.