Talen Energy (NASDAQ:TLN) Sets New 52-Week High - What's Next?

Key Points

• Talen Energy's stock price reached a new 52-week high of $376.16, reflecting significant trading activity with over 1.1 million shares exchanged.
• Analysts have a positive outlook on Talen Energy, with fourteen analysts assigning it a buy rating and an average target price of $292.58, highlighting confidence in the company's growth potential.
• Insiders have recently sold significant shares, with major shareholder Rubric Capital Management LP selling 178,000 shares at an average price of $296.04, indicating possible shifts in insider confidence.

Talen Energy Corporation (NASDAQ:TLN - Get Free Report)'s stock price hit a new 52-week high during trading on Thursday . The company traded as high as $376.16 and last traded at $373.36, with a volume of 1106231 shares. The stock had previously closed at $361.21.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on TLN. Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the stock an "outperform" rating in a research note on Friday, July 11th. Barclays lifted their price objective on shares of Talen Energy from $269.00 to $359.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. UBS Group set a $431.00 price objective on shares of Talen Energy and gave the stock a "buy" rating in a research note on Friday, July 25th. Morgan Stanley lifted their price objective on shares of Talen Energy from $300.00 to $330.00 and gave the stock an "overweight" rating in a research note on Friday, July 18th. Finally, Jefferies Financial Group lifted their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a research note on Friday, July 18th. One research analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Talen Energy currently has an average rating of "Moderate Buy" and an average target price of $292.58.

Talen Energy Stock Up 3.4%

The company's fifty day moving average price is $280.83 and its 200-day moving average price is $238.36. The stock has a market cap of $16.99 billion, a P/E ratio of 38.77, a price-to-earnings-growth ratio of 2.82 and a beta of 1.85. The company has a debt-to-equity ratio of 2.52, a quick ratio of 1.20 and a current ratio of 1.62.

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

Insiders Place Their Bets

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $296.04, for a total transaction of $52,695,120.00. Following the completion of the sale, the insider owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This trade represents a 3.01% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In the last three months, insiders have sold 388,530 shares of company stock worth $114,090,933. Company insiders own 0.18% of the company's stock.

Hedge Funds Weigh In On Talen Energy

Several institutional investors have recently bought and sold shares of the business. Fred Alger Management LLC increased its holdings in Talen Energy by 56.3% during 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 buying an additional 537,398 shares during the period. Lone Pine Capital LLC increased its holdings in Talen Energy by 27.2% during the fourth quarter. Lone Pine Capital LLC now owns 1,089,380 shares of the utilities provider's stock valued at $219,477,000 after buying an additional 233,165 shares during the period. Invesco Ltd. increased its holdings in Talen Energy by 32.8% during the fourth quarter. Invesco Ltd. now owns 652,478 shares of the utilities provider's stock valued at $131,455,000 after buying an additional 161,269 shares during the period. Third Point LLC bought a new position in shares of Talen Energy during the 1st quarter worth approximately $116,807,000. Finally, Carronade Capital Management LP raised its stake in shares of Talen Energy by 12.0% during the 4th quarter. Carronade Capital Management LP now owns 447,886 shares of the utilities provider's stock worth $90,236,000 after acquiring an additional 47,886 shares in the last quarter. 0.38% of the stock is owned by hedge funds and other institutional investors.

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.

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