Talen Energy (NASDAQ:TLN) Sets New 12-Month High Following Analyst Upgrade

Key Points

• Talen Energy shares reached a new 52-week high of $398.78, with a closing price of $394.07 and a trading volume of 260,393 shares.
• Analysts have a consensus rating of "Buy" for Talen Energy, with target prices ranging from $300 to $431, indicating strong investor confidence.
• In its recent earnings report, Talen Energy reported $1.50 earnings per share, significantly beating expectations, with a revenue of $630 million compared to estimates of $481.48 million.

Shares of Talen Energy Corporation (NASDAQ:TLN - Get Free Report) reached a new 52-week high on Tuesday after Barclays raised their price target on the stock from $418.00 to $440.00. Barclays currently has an overweight rating on the stock. Talen Energy traded as high as $398.78 and last traded at $394.07, with a volume of 260393 shares traded. The stock had previously closed at $383.49.

A number of other brokerages have also recently commented on TLN. Oppenheimer set a $315.00 price target on Talen Energy and gave the company an "outperform" rating in a research report on Friday, July 11th. Melius assumed coverage on Talen Energy in a research report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price target on the stock. Jefferies Financial Group upped their price target on Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a research report on Friday, July 18th. UBS Group set a $431.00 price target on Talen Energy and gave the company a "buy" rating in a research report on Friday, July 25th. Finally, Susquehanna reaffirmed an "overweight" rating on shares of Talen Energy in a research report on Thursday, June 12th. Fifteen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Talen Energy presently has an average rating of "Buy" and an average price target of $354.29.

Insider Activity

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the business's stock in a transaction on 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 sale, the insider directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. The trade was a 3.01% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 388,530 shares of company stock worth $114,090,933. Insiders own 0.18% of the company's stock.

Institutional Trading of Talen Energy

A number of hedge funds and other institutional investors have recently made changes to their positions in TLN. Third Point LLC bought a new stake in shares of Talen Energy during the 1st quarter valued at $116,807,000. Norges Bank bought a new position in Talen Energy in the 2nd quarter worth about $168,188,000. Fred Alger Management LLC increased its stake in 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 worth $297,937,000 after acquiring an additional 537,398 shares during the last quarter. State Street Corp increased its stake in Talen Energy by 151.0% in 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 during the last quarter. Finally, PointState Capital LP bought a new position in Talen Energy in the 1st quarter worth about $75,148,000. 0.38% of the stock is currently owned by institutional investors.

Talen Energy Price Performance

The firm has a market capitalization of $18.39 billion, a P/E ratio of 114.03, a price-to-earnings-growth 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. The business has a 50 day simple moving average of $353.19 and a two-hundred day simple moving average of $272.30.

Talen Energy (NASDAQ:TLN - Get Free Report) last announced its 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 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%. On average, sell-side analysts expect that Talen Energy Corporation 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.