Talen Energy (NASDAQ:TLN) Reaches New 1-Year High - Here's Why

Key Points

• Talen Energy's stock reached a new 52-week high, trading at $430.93 during mid-day, with significant trading volume of 38,809 shares.
• Several major banks have upgraded their ratings and target prices for Talen Energy, with Morgan Stanley increasing their target from $330.00 to $430.00.
• The company reported strong earnings results, with an EPS of $1.50 for the quarter, greatly exceeding the consensus estimate of ($1.13), demonstrating positive financial performance.

Shares of Talen Energy Corporation (NASDAQ:TLN - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $430.93 and last traded at $426.09, with a volume of 38809 shares changing hands. The stock had previously closed at $425.38.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley boosted their target price on shares of Talen Energy from $330.00 to $430.00 and gave the company an "overweight" rating in a report on Wednesday, September 10th. Jefferies Financial Group boosted their target price on shares of Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a report on Friday, July 18th. Raymond James Financial assumed coverage on shares of Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 target price on the stock. Evercore ISI boosted their target price on shares of Talen Energy from $410.00 to $450.00 and gave the company an "outperform" rating in a report on Tuesday, September 9th. Finally, Wall Street Zen raised shares of Talen Energy from a "sell" rating to a "hold" rating in a report on Monday, August 11th. Fourteen equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, Talen Energy presently has an average rating of "Moderate Buy" and an average price target of $367.50.

Talen Energy Price Performance

The firm's 50-day moving average is $384.99 and its 200-day moving average is $291.12. The company has a market capitalization of $19.61 billion, a PE ratio of 121.86, a price-to-earnings-growth ratio of 2.47 and a beta of 1.89. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39.

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 (EPS) for the quarter, topping the consensus estimate of ($1.13) by $2.63. Talen Energy had a net margin of 8.75% and a return on equity of 9.58%. The company had revenue of $630.00 million during the quarter, compared to analyst estimates of $481.48 million. Equities analysts predict that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Atlantic Union Bankshares Corp purchased a new position in Talen Energy in the second quarter worth $27,000. MAI Capital Management boosted its position in Talen Energy by 115.7% during 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 during the period. Signaturefd LLC boosted its position in Talen Energy by 310.0% during 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 during the period. Brooklyn Investment Group purchased a new stake in Talen Energy during the first quarter valued at about $25,000. Finally, Golden State Wealth Management LLC boosted its position in Talen Energy by 5,100.0% during the second quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider's stock valued at $45,000 after buying an additional 153 shares during the period. 0.38% of the stock is currently owned by hedge funds and other 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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