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

Key Points

• Talen Energy's stock reached a new 52-week high of $351.71 after an upgrade by UBS Group, which raised its price target from $399.00 to $431.00.
• Despite positive ratings from multiple firms, including a "buy" rating from UBS and an "overweight" rating from Barclays, Talen Energy faced a downgrade from Wall Street Zen from "hold" to "sell."
• Insiders have sold a significant quantity of shares recently, with major shareholder Rubric Capital Management selling 178,000 shares for over $52 million, decreasing their stake by 3.01%.
• Institutional investors are increasingly acquiring Talen Energy shares, with Vanguard and Fred Alger Management growing their holdings significantly in the last quarters.

Shares of Talen Energy Corporation (NASDAQ:TLN - Get Free Report) hit a new 52-week high on Friday after UBS Group raised their price target on the stock from $399.00 to $431.00. UBS Group currently has a buy rating on the stock. Talen Energy traded as high as $351.71 and last traded at $349.57, with a volume of 328703 shares. The stock had previously closed at $339.16.

A number of other brokerages have also recently issued reports on TLN. JPMorgan Chase & Co. dropped their price objective on Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a report on Friday, March 28th. Barclays lifted their price objective on Talen Energy from $269.00 to $359.00 and gave the company an "overweight" rating in a research note on Friday, July 18th. Wall Street Zen downgraded Talen Energy from a "hold" rating to a "sell" rating in a research note on Friday, July 18th. Raymond James Financial initiated coverage on Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 price target for the company. Finally, Jefferies Financial Group boosted their price target on Talen Energy from $326.00 to $380.00 and gave the company a "buy" rating in a report on Friday, July 18th. One equities research analyst has rated the stock with a sell rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $292.58.

Insiders Place Their Bets

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 transaction of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This represents a 3.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold 388,530 shares of company stock valued at $114,090,933 in the last ninety days. Corporate insiders own 0.18% of the company's stock.

Institutional Trading of Talen Energy

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Talen Energy by 5.7% during the fourth quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider's stock worth $964,302,000 after buying an additional 256,414 shares during the last quarter. Fred Alger Management LLC grew its stake in Talen Energy by 56.3% in the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider's stock worth $297,937,000 after acquiring an additional 537,398 shares during the period. Lone Pine Capital LLC lifted its holdings in shares of Talen Energy by 27.2% during the 4th quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after acquiring an additional 233,165 shares in the last quarter. Invesco Ltd. lifted its holdings in Talen Energy by 32.8% in the 4th quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider's stock worth $131,455,000 after buying an additional 161,269 shares in the last quarter. Finally, Third Point LLC bought a new position in shares of Talen Energy during the first quarter worth about $116,807,000. 0.38% of the stock is currently owned by institutional investors and hedge funds.

Talen Energy Trading Up 3.6%

The firm's 50 day moving average is $274.03 and its two-hundred day moving average is $235.33. The stock has a market cap of $15.99 billion, a price-to-earnings ratio of 36.53, a price-to-earnings-growth ratio of 7.83 and a beta of 1.85. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52.

Talen Energy (NASDAQ:TLN - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The utilities provider reported $0.82 EPS for the quarter, missing analysts' consensus estimates of $1.17 by ($0.35). The company had revenue of $390.00 million for the quarter, compared to analyst estimates of $556.93 million. Talen Energy had a net margin of 28.51% and a return on equity of 11.47%. Equities analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current year.

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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