Brokerages Set Talen Energy Corporation (NASDAQ:TLN) PT at $326.08

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 rating of "Buy" by the fifteen ratings firms that are presently covering the firm, MarketBeat Ratings reports. Fifteen equities research analysts have rated the stock with a buy recommendation. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $354.2857.

Several equities analysts recently issued reports on TLN shares. Jefferies Financial Group increased their target price on Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Wall Street Zen raised Talen Energy from a "sell" rating to a "hold" rating in a research note on Monday, August 11th. Raymond James Financial started coverage on Talen Energy in a research note on Friday, June 13th. They set an "outperform" rating and a $314.00 target price on the stock. Finally, UBS Group set a $431.00 target price on Talen Energy and gave the stock a "buy" rating in a research note on Friday, July 25th.

Insider Transactions at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the 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 transaction, the insider owned 5,734,970 shares of the company's stock, valued at approximately $1,697,780,518.80. This represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders sold 388,530 shares of company stock worth $114,090,933. 0.18% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Talen Energy

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

Talen Energy Trading Up 0.4%

Shares of NASDAQ TLN traded up $1.61 during mid-day trading on Monday, reaching $402.53. 435,205 shares of the company's stock were exchanged, compared to its average volume of 1,161,560. The firm has a market capitalization of $18.39 billion, a price-to-earnings ratio of 114.03, a PEG ratio of 1.92 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 52-week low of $148.02 and a 52-week high of $410.00. The company's 50-day moving average is $353.19 and its 200-day moving average is $271.93.

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 analysts' consensus estimates of ($1.13) by $2.63. The business had revenue of $630.00 million during the quarter, compared to analysts' expectations of $481.48 million. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%. Analysts expect that Talen Energy will post 15.94 EPS for the current fiscal 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.