Talen Energy (NASDAQ:TLN) Reaches New 1-Year High After Analyst Upgrade

Talen Energy Corporation (NASDAQ:TLN) reached a new 52-week high on Saturday after UBS Group raised their price target on the stock from $366.00 to $399.00. UBS Group currently has a buy rating on the stock. Talen Energy traded as high as $330.99 and last traded at $328.63, with a volume of 4493970 shares. The stock had previously closed at $264.00.

Other equities research analysts have also recently issued reports about the stock. Jefferies Financial Group upped their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a “buy” rating in a report on Friday. JPMorgan Chase & Co. decreased their price objective on shares of Talen Energy from $295.00 to $265.00 and set an “overweight” rating for the company in a report on Friday, March 28th. Barclays upped their price objective on shares of Talen Energy from $269.00 to $359.00 and gave the stock an “overweight” rating in a report on Friday. Raymond James Financial started coverage on shares of Talen Energy in a report on Friday, June 13th. They issued an “outperform” rating and a $314.00 price objective for the company. Finally, Morgan Stanley upped their price objective on shares of Talen Energy from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Friday. One analyst has rated the stock with a sell rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $289.92.

Insiders Place Their Bets

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 shares were sold at an average price of $296.04, for a total transaction 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 represents a 3.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last three months, insiders have sold 388,530 shares of company stock worth $114,090,933. 0.18% of the stock is owned by insiders.

Institutional Trading of Talen Energy

Large investors have recently added to or reduced their stakes in the company. Signaturefd LLC raised its holdings in Talen Energy by 310.0% in the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 93 shares during the period. Brooklyn Investment Group acquired a new stake in Talen Energy in the first quarter worth $25,000. Golden State Wealth Management LLC acquired a new stake in Talen Energy in the first quarter worth $35,000. LRI Investments LLC raised its holdings in Talen Energy by 179.0% in the first quarter. LRI Investments LLC now owns 173 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 111 shares during the period. Finally, N.E.W. Advisory Services LLC acquired a new stake in Talen Energy in the first quarter worth $35,000. 0.38% of the stock is owned by institutional investors.

Talen Energy Trading Up 24.5%

The company’s fifty day simple moving average is $267.33 and its two-hundred day simple moving average is $232.19. The company has a quick ratio of 1.20, a current ratio of 1.62 and a debt-to-equity ratio of 2.52. The company has a market capitalization of $14.96 billion, a price-to-earnings ratio of 34.13, a price-to-earnings-growth ratio of 6.35 and a beta of 1.85.

Talen Energy (NASDAQ:TLN) last issued 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 return on equity of 11.47% and a net margin of 28.51%. Research analysts forecast that Talen Energy Corporation will post 15.94 earnings per share for the current fiscal 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.