Talen Energy (NASDAQ:TLN) Posts Quarterly Earnings Results, Beats Estimates By $2.63 EPS

Key Points

• Talen Energy reported a quarterly earnings of $1.50 EPS, greatly exceeding analyst estimates which predicted a loss of $1.13 EPS, leading to a positive reaction in investor sentiment.
• The company's revenue reached $630 million for the quarter, significantly surpassing expectations of $481.48 million, highlighting strong performance in its operations.
• Despite solid earnings, Talen Energy's stock price faced a decline of 0.90, closing at $374.68, following increased insider selling activity among major shareholders.

Talen Energy (NASDAQ:TLN - Get Free Report) released its quarterly earnings data on Thursday. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $2.63, Zacks reports. Talen Energy had a return on equity of 16.68% and a net margin of 8.75%. The business had revenue of $630.00 million during the quarter, compared to analysts' expectations of $481.48 million.

Talen Energy Price Performance

NASDAQ TLN traded down $0.90 during mid-day trading on Friday, hitting $374.68. The stock had a trading volume of 619,829 shares, compared to its average volume of 1,483,426. Talen Energy has a 52-week low of $113.41 and a 52-week high of $394.07. The company has a market cap of $17.05 billion, a price-to-earnings ratio of 106.14, a P/E/G ratio of 3.12 and a beta of 1.90. The company has a 50 day simple moving average of $302.73 and a 200 day simple moving average of $246.55. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52.

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 that occurred 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 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders sold 388,530 shares of company stock valued at $114,090,933. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Talen Energy

Several hedge funds have recently bought and sold shares of the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Talen Energy by 15.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 49,050 shares of the utilities provider's stock worth $9,794,000 after buying an additional 6,498 shares in the last quarter. AQR Capital Management LLC purchased a new position in Talen Energy during the first quarter worth $1,732,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Talen Energy by 11.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,280 shares of the utilities provider's stock worth $1,454,000 after buying an additional 761 shares in the last quarter. Amundi purchased a new position in Talen Energy during the first quarter worth $299,000. Finally, NewEdge Advisors LLC increased its position in Talen Energy by 17,400.0% during the first quarter. NewEdge Advisors LLC now owns 875 shares of the utilities provider's stock worth $175,000 after buying an additional 870 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group set a $431.00 target price on Talen Energy and gave the company a "buy" rating in a report on Friday, July 25th. Raymond James Financial assumed coverage on Talen Energy in a report on Friday, June 13th. They issued an "outperform" rating and a $314.00 target price for the company. Jefferies Financial Group boosted their target price on Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a report on Friday, July 18th. Susquehanna reissued an "overweight" rating on shares of Talen Energy in a report on Thursday, June 12th. Finally, Wall Street Zen downgraded Talen Energy from a "hold" rating to a "sell" rating in a report on Sunday, August 3rd. One analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $292.58.

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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