Talen Energy (NASDAQ:TLN) Sets New 52-Week High on Analyst Upgrade

Talen Energy Corporation (NASDAQ:TLN - Get Free Report) reached a new 52-week high on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock traded as high as $301.70 and last traded at $294.90, with a volume of 79373 shares trading hands. The stock had previously closed at $297.88.

A number of other analysts also recently issued reports on the stock. Daiwa Capital Markets set a $200.00 price target on shares of Talen Energy in a report on Wednesday, March 5th. Morgan Stanley began coverage on Talen Energy in a research report on Wednesday, March 12th. They issued an "overweight" rating and a $243.00 target price on the stock. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Barclays decreased their price objective on Talen Energy from $293.00 to $282.00 and set an "overweight" rating on the stock in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a research report on Friday, March 28th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Talen Energy currently has a consensus rating of "Moderate Buy" and an average target price of $255.25.

Insider Activity at Talen Energy

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company's stock in a transaction on Friday, June 27th. The stock was 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 directly owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This represents a 3.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold 388,530 shares of company stock valued at $114,090,933 in the last quarter. Corporate insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Talen Energy

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Signaturefd LLC boosted its position in Talen Energy by 310.0% in the 1st quarter. Signaturefd LLC now owns 123 shares of the utilities provider's stock worth $25,000 after purchasing an additional 93 shares in the last quarter. Brooklyn Investment Group acquired a new position in Talen Energy during the first quarter worth about $25,000. Golden State Wealth Management LLC purchased a new position in Talen Energy in the 1st quarter worth approximately $35,000. LRI Investments LLC grew its holdings in Talen Energy by 179.0% in the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock valued at $35,000 after buying an additional 111 shares in the last quarter. Finally, N.E.W. Advisory Services LLC acquired a new stake in shares of Talen Energy in the 1st quarter worth $35,000. 0.38% of the stock is owned by hedge funds and other institutional investors.

Talen Energy Stock Up 5.9%

The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.20 and a current ratio of 1.62. The business has a 50 day simple moving average of $253.05 and a 200-day simple moving average of $225.67. The firm has a market capitalization of $13.31 billion, a price-to-earnings ratio of 30.37, a P/E/G ratio of 6.63 and a beta of 1.85.

Talen Energy (NASDAQ:TLN - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.17 by ($0.35). The company had revenue of $390.00 million during the quarter, compared to analysts' expectations of $556.93 million. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. On average, equities analysts expect that Talen Energy Corporation 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.