Talen Energy (NASDAQ:TLN) Price Target Raised to $440.00

Key Points

• Barclays has raised Talen Energy's price target from $418.00 to $440.00, suggesting a potential upside of 9.28% from its previous close.
• Multiple analysts have shown positive outlooks on Talen Energy, with a consensus rating of "Buy" and an average target price of $354.29.
• Talen Energy reported quarterly earnings of $1.50 per share, significantly beating estimates, while also generating revenue of $630 million compared to expectations of $481.48 million.

Talen Energy (NASDAQ:TLN - Get Free Report) had its price target boosted by analysts at Barclays from $418.00 to $440.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Barclays's price target indicates a potential upside of 9.28% from the company's previous close.

TLN has been the topic of a number of other research reports. Raymond James Financial began coverage on Talen Energy in a research note on Friday, June 13th. They issued an "outperform" rating and a $314.00 target price on the stock. Morgan Stanley increased their target price on Talen Energy from $330.00 to $430.00 and gave the stock an "overweight" rating in a research note on Wednesday. Evercore ISI increased their target price on Talen Energy from $410.00 to $450.00 and gave the stock an "outperform" rating in a research note on Tuesday. 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. Finally, Susquehanna reiterated an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Fifteen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus price target of $354.29.

Talen Energy Stock Performance

NASDAQ:TLN opened at $402.65 on Thursday. The stock's fifty day moving average is $348.82 and its 200 day moving average is $269.33. Talen Energy has a fifty-two week low of $148.02 and a fifty-two week high of $410.00. The firm has a market capitalization of $18.40 billion, a PE ratio of 114.07, a PEG ratio of 2.68 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 (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, beating the consensus estimate of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%.The company had revenue of $630.00 million for the quarter, compared to analyst estimates of $481.48 million. On average, sell-side analysts anticipate that Talen Energy will post 15.94 earnings per share for the current year.

Insider Activity at Talen Energy

In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the firm'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 transaction, the insider owned 5,734,970 shares in the company, valued at approximately $1,697,780,518.80. This trade represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Insiders sold a total of 388,530 shares of company stock worth $114,090,933 in the last 90 days. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Talen Energy

Institutional investors have recently made changes to their positions in the company. Third Point LLC purchased a new position in Talen Energy in the first quarter valued at about $116,807,000. Norges Bank purchased a new position in Talen Energy in the second quarter valued at about $168,188,000. Fred Alger Management LLC grew its stake in Talen Energy by 56.3% in the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider's stock valued at $297,937,000 after purchasing an additional 537,398 shares during the last quarter. State Street Corp grew its stake in Talen Energy by 151.0% in the second quarter. State Street Corp now owns 711,231 shares of the utilities provider's stock valued at $206,805,000 after purchasing an additional 427,910 shares during the last quarter. Finally, PointState Capital LP purchased a new position in Talen Energy in the first quarter valued at about $75,148,000. Hedge funds and other institutional investors own 0.38% of the company's stock.

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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