Talen Energy Corporation (NASDAQ:TLN) Given Consensus Rating of "Buy" by Brokerages

Key Points

• Talen Energy Corporation (NASDAQ: TLN) has received an average recommendation of "Buy" from 15 research firms, with a 12-month price target averaging $326.08.
• Major shareholder Rubric Capital Management sold 178,000 shares at an average price of $296.04, reducing their ownership by **3.01%**, while insiders have sold a total of about $114 million worth of stock over the last ninety days.
• In the latest quarterly earnings report, Talen Energy reported an EPS of $1.50, exceeding analysts' expectations, along with revenue of $630 million for the quarter compared to an estimate of $481.48 million.

Shares of Talen Energy Corporation (NASDAQ:TLN - Get Free Report) have been given an average recommendation of "Buy" by the fifteen ratings firms that are covering the stock, MarketBeat.com reports. Fifteen research analysts have rated the stock with a buy rating. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $326.0769.

A number of research analysts have recently commented on TLN shares. Melius Research started coverage on Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target on the stock. UBS Group set a $431.00 price target on Talen Energy and gave the company a "buy" rating in a report on Friday, July 25th. Melius assumed coverage on Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target on the stock. Barclays raised their target price on Talen Energy from $353.00 to $418.00 and gave the company an "overweight" rating in a research note on Wednesday, August 13th. Finally, Oppenheimer set a $315.00 target price on Talen Energy and gave the company an "outperform" rating in a research note on Friday, July 11th.

Insiders Place Their Bets

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was 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 trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders sold a total of 388,530 shares of company stock worth $114,090,933 over the last ninety days.

Hedge Funds Weigh In On Talen Energy

A number of hedge funds and other institutional investors have recently modified their holdings of TLN. Third Point LLC acquired a new position in shares of Talen Energy in the 1st quarter valued at $116,807,000. Norges Bank acquired a new position in shares of Talen Energy in the 2nd quarter valued at $168,188,000. Fred Alger Management LLC boosted its position in shares of Talen Energy by 56.3% in the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider's stock valued at $297,937,000 after purchasing an additional 537,398 shares during the period. State Street Corp boosted its position in shares of Talen Energy by 151.0% in the 2nd quarter. State Street Corp now owns 711,231 shares of the utilities provider's stock valued at $206,805,000 after purchasing an additional 427,910 shares during the period. Finally, PointState Capital LP acquired a new position in shares of Talen Energy in the 1st quarter valued at $75,148,000. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Price Performance

Shares of TLN opened at $389.19 on Monday. The firm has a market capitalization of $17.78 billion, a price-to-earnings ratio of 110.25, a price-to-earnings-growth 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 has a one year low of $137.55 and a one year high of $394.25. The stock's fifty day moving average is $342.25 and its 200-day moving average is $266.41.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 EPS for the quarter, beating analysts' consensus estimates 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 return on equity of 17.81% and a net margin of 8.75%. Equities analysts anticipate that Talen Energy will post 15.94 EPS for the current year.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.