Talen Energy Corporation (NASDAQ:TLN - Get Free Report)'s stock price was up 9.4% on Wednesday . The company traded as high as $345.00 and last traded at $342.92. Approximately 556,311 shares changed hands during mid-day trading, a decline of 53% from the average daily volume of 1,175,132 shares. The stock had previously closed at $313.58.
Analysts Set New Price Targets
A number of equities analysts recently weighed in on TLN shares. Jefferies Financial Group boosted their price target on shares of Talen Energy from $326.00 to $380.00 and gave the stock a "buy" rating in a report on Friday, July 18th. Oppenheimer set a $315.00 price target on shares of Talen Energy and gave the stock an "outperform" rating in a report on Friday, July 11th. Morgan Stanley upped their price objective on shares of Talen Energy from $300.00 to $330.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Barclays upped their price objective on shares of Talen Energy from $269.00 to $359.00 and gave the company an "overweight" rating in a report on Friday, July 18th. Finally, Raymond James Financial started coverage on shares of Talen Energy in a report on Friday, June 13th. They set an "outperform" rating and a $314.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $292.58.
View Our Latest Research Report on TLN
Talen Energy Stock Performance
The company has a 50-day moving average price of $276.06 and a two-hundred day moving average price of $236.39. The stock has a market capitalization of $15.77 billion, a P/E ratio of 35.99, a PEG ratio of 8.00 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 announced its quarterly earnings results on Thursday, May 8th. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate 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 expect that Talen Energy Corporation will post 15.94 earnings per share for the current year.
Insider Buying and Selling at Talen Energy
In other news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company's stock in a transaction dated 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 sale, 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 sale was disclosed in a filing with the SEC, which is available at this link. Insiders sold 388,530 shares of company stock worth $114,090,933 in the last quarter. Corporate insiders own 0.18% of the company's stock.
Institutional Investors Weigh In On Talen Energy
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its stake in Talen Energy by 5.0% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 17,390 shares of the utilities provider's stock valued at $5,056,000 after purchasing an additional 833 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake in Talen Energy by 44.9% in the second quarter. Allspring Global Investments Holdings LLC now owns 189,972 shares of the utilities provider's stock valued at $53,190,000 after purchasing an additional 58,890 shares in the last quarter. Vanguard Personalized Indexing Management LLC purchased a new stake in Talen Energy in the second quarter valued at approximately $496,000. Gunderson Capital Management Inc. purchased a new stake in Talen Energy in the second quarter valued at approximately $3,048,000. Finally, Blair William & Co. IL purchased a new stake in Talen Energy in the second quarter valued at approximately $355,000. 0.38% of the stock is owned by hedge funds and other institutional investors.
About Talen Energy
(
Get Free Report)
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.
See Also
Before you consider Talen Energy, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Talen Energy wasn't on the list.
While Talen Energy currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
