Brokerages Set Talen Energy Corporation (NASDAQ:TLN) Target Price at $326.08

Talen Energy Corporation (NASDAQ:TLN) has been given an average recommendation of “Buy” by the fifteen brokerages that are presently covering the stock, Marketbeat.com reports. Fifteen research analysts have rated the stock with a buy rating. The average 12-month price target among analysts that have covered the stock in the last year is $354.2857.

A number of brokerages have recently issued reports on TLN. UBS Group set a $431.00 price target on Talen Energy and gave the stock a “buy” rating in a research report on Friday, July 25th. Wall Street Zen raised Talen Energy from a “sell” rating to a “hold” rating in a research report on Monday, August 11th. Oppenheimer set a $315.00 target price on Talen Energy and gave the company an “outperform” rating in a research report on Friday, July 11th. Barclays upped their target price on Talen Energy from $418.00 to $440.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Susquehanna reissued an “overweight” rating on shares of Talen Energy in a research report on Thursday, June 12th.

Talen Energy Stock Up 0.4%

Talen Energy stock opened at $402.53 on Monday. The business has a fifty day moving average of $353.19 and a two-hundred day moving average of $272.80. The firm has a market cap of $18.39 billion, a P/E ratio of 114.03, a P/E/G ratio of 1.93 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 has a twelve month low of $148.02 and a twelve month high of $410.00.

Talen Energy (NASDAQ:TLN) last issued its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.13) by $2.63. The business had revenue of $630.00 million for the quarter, compared to the consensus estimate of $481.48 million. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%. On average, analysts forecast that Talen Energy will post 15.94 earnings per share for the current fiscal year.

Insider Activity

In related 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 value of $52,695,120.00. Following the transaction, the insider directly owned 5,734,970 shares of the company’s stock, valued at $1,697,780,518.80. This represents a 3.01% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last 90 days, insiders sold 388,530 shares of company stock valued at $114,090,933.

Institutional Investors Weigh In On Talen Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TLN. Northern Trust Corp grew its position in Talen Energy by 7.8% during the 4th quarter. Northern Trust Corp now owns 118,949 shares of the utilities provider’s stock worth $23,965,000 after purchasing an additional 8,626 shares during the period. Ameriprise Financial Inc. grew its position in Talen Energy by 6.1% during the 4th quarter. Ameriprise Financial Inc. now owns 4,518 shares of the utilities provider’s stock worth $910,000 after purchasing an additional 261 shares during the period. Cetera Investment Advisers acquired a new stake in Talen Energy during the 4th quarter worth about $490,000. Cresset Asset Management LLC acquired a new stake in Talen Energy during the 4th quarter worth about $312,000. Finally, D. E. Shaw & Co. Inc. acquired a new stake in Talen Energy during the 4th quarter worth about $422,000. 0.38% of the stock is owned by institutional investors and hedge funds.

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.