Talen Energy (NASDAQ:TLN) Hits New 1-Year High - Should You Buy?

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.

Talen Energy Corporation (NASDAQ:TLN - Get Free Report) shares reached a new 52-week high on Tuesday . The stock 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.

Analyst Ratings Changes

TLN has been the topic of a number of research analyst reports. Morgan Stanley increased their price objective on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a report on Friday, July 18th. Melius initiated coverage on shares of Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price objective on the stock. Melius Research started coverage on shares of Talen Energy in a report on Wednesday, August 20th. They set a "buy" rating and a $427.00 price objective on the stock. UBS Group set a $431.00 target price on shares of Talen Energy and gave the company a "buy" rating in a research note on Friday, July 25th. Finally, Raymond James Financial started coverage on shares of Talen Energy in a research note on Friday, June 13th. They issued an "outperform" rating and a $314.00 target price on the stock. Fifteen analysts have rated the stock with a Buy rating, According to data from MarketBeat, Talen Energy presently has an average rating of "Buy" and a consensus price target of $326.08.

Talen Energy Stock Up 2.5%

The firm has a market capitalization of $17.96 billion, a price-to-earnings ratio of 111.18, a P/E/G ratio of 2.68 and a beta of 1.89. The business's 50-day moving average is $344.10 and its two-hundred day moving average is $267.56. 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 (NASDAQ:TLN - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of ($1.13) by $2.63. The business had revenue of $630.00 million for 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, equities analysts anticipate that Talen Energy Corporation will post 15.94 earnings per share for the current year.

Insider Buying and Selling at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm's stock in a transaction that occurred on Friday, June 27th. The shares were 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 directly 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders have sold 388,530 shares of company stock worth $114,090,933.

Hedge Funds Weigh In On Talen Energy

Hedge funds have recently made changes to their positions in the business. Signaturefd LLC grew its stake in shares of Talen Energy by 310.0% in the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock valued at $25,000 after buying an additional 93 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of Talen Energy in the first quarter valued at $25,000. Atlantic Union Bankshares Corp bought a new position in shares of Talen Energy in the second quarter valued at $27,000. MAI Capital Management grew its stake in shares of Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider's stock valued at $32,000 after buying an additional 59 shares in the last quarter. Finally, Golden State Wealth Management LLC bought a new position in shares of Talen Energy in the first quarter valued at $35,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Company Profile

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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