Talen Energy (NASDAQ:TLN) Shares Gap Up After Analyst Upgrade

Talen Energy Corporation (NASDAQ:TLN - Get Free Report)'s stock price gapped up prior to trading on Friday after Morgan Stanley raised their price target on the stock from $300.00 to $330.00. The stock had previously closed at $264.00, but opened at $310.00. Morgan Stanley currently has an overweight rating on the stock. Talen Energy shares last traded at $319.43, with a volume of 707,275 shares trading hands.

Other equities research analysts have also issued research reports about the stock. JPMorgan Chase & Co. dropped their price target on shares of Talen Energy from $295.00 to $265.00 and set an "overweight" rating on the stock in a research note on Friday, March 28th. Oppenheimer set a $315.00 price objective on shares of Talen Energy and gave the company an "outperform" rating in a research note on Friday, July 11th. Raymond James Financial initiated coverage on shares of Talen Energy in a research note on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective on the stock. Susquehanna reiterated an "overweight" rating on shares of Talen Energy in a research note on Thursday, June 12th. Finally, UBS Group raised their price objective on shares of Talen Energy from $296.00 to $366.00 and gave the company a "buy" rating in a research note on Friday, June 27th. One analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $267.92.

Insider Buying and Selling

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 shares were 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 owned 5,734,970 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Over the last three months, insiders have 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

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Wedbush Securities Inc. boosted its stake in Talen Energy by 4.4% in the 1st quarter. Wedbush Securities Inc. now owns 1,316 shares of the utilities provider's stock worth $263,000 after purchasing an additional 55 shares during the period. IFP Advisors Inc boosted its stake in shares of Talen Energy by 42.4% during the 1st quarter. IFP Advisors Inc now owns 188 shares of the utilities provider's stock valued at $38,000 after buying an additional 56 shares during the period. Knights of Columbus Asset Advisors LLC boosted its stake in shares of Talen Energy by 2.7% during the 1st quarter. Knights of Columbus Asset Advisors LLC now owns 3,394 shares of the utilities provider's stock valued at $678,000 after buying an additional 88 shares during the period. Signaturefd LLC boosted its stake in shares of Talen Energy by 310.0% during the 1st 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. Finally, LRI Investments LLC boosted its stake in shares of Talen Energy by 179.0% during the 1st quarter. LRI Investments LLC now owns 173 shares of the utilities provider's stock valued at $35,000 after buying an additional 111 shares during the period. Institutional investors and hedge funds own 0.38% of the company's stock.

Talen Energy Stock Up 20.6%

The business's 50 day simple moving average is $265.26 and its 200-day simple moving average is $231.31. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 33.07, a price-to-earnings-growth ratio of 6.37 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 issued its earnings results on Thursday, May 8th. The utilities provider reported $0.82 earnings per share (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%. Sell-side analysts expect that Talen Energy Corporation will post 15.94 earnings per share for the current year.

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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