Morgan Stanley Increases Talen Energy (NASDAQ:TLN) Price Target to $330.00

Talen Energy (NASDAQ:TLN) had its price objective increased by equities research analysts at Morgan Stanley from $300.00 to $330.00 in a report released on Friday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 0.42% from the stock’s previous close.

TLN has been the subject of a number of other research reports. UBS Group increased their target price on Talen Energy from $296.00 to $366.00 and gave the company a “buy” rating in a report on Friday, June 27th. Oppenheimer set a $315.00 price target on Talen Energy and gave the company an “outperform” rating in a research report on Friday, July 11th. Susquehanna restated an “overweight” rating on shares of Talen Energy in a research report on Thursday, June 12th. JPMorgan Chase & Co. dropped their price target on Talen Energy from $295.00 to $265.00 and set an “overweight” rating for the company in a research report on Friday, March 28th. Finally, Raymond James Financial started coverage on Talen Energy in a research report on Friday, June 13th. They issued an “outperform” rating and a $314.00 price target for the company. One equities research analyst has rated the stock with a sell rating and fourteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $289.92.

Talen Energy Price Performance

TLN stock opened at $328.63 on Friday. Talen Energy has a 12 month low of $98.50 and a 12 month high of $330.99. The company has a current ratio of 1.62, a quick ratio of 1.20 and a debt-to-equity ratio of 2.52. The company has a 50-day moving average price of $267.33 and a 200 day moving average price of $232.40. The stock has a market cap of $14.96 billion, a PE ratio of 34.13, a P/E/G ratio of 7.91 and a beta of 1.85.

Talen Energy (NASDAQ:TLN) last announced its quarterly 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). 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 during the quarter, compared to analysts’ expectations of $556.93 million. Equities research analysts anticipate that Talen Energy 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 business’s stock in a transaction that occurred 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. The trade was a 3.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders sold 388,530 shares of company stock worth $114,090,933. 0.18% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Talen Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in shares of Talen Energy by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 4,786,331 shares of the utilities provider’s stock worth $964,302,000 after buying an additional 256,414 shares during the last quarter. Crescent Grove Advisors LLC acquired a new stake in Talen Energy in the 1st quarter valued at about $285,000. Sei Investments Co. lifted its stake in Talen Energy by 109.4% in the 4th quarter. Sei Investments Co. now owns 59,686 shares of the utilities provider’s stock valued at $12,024,000 after purchasing an additional 31,180 shares during the last quarter. Cinctive Capital Management LP lifted its stake in Talen Energy by 443.2% in the 4th quarter. Cinctive Capital Management LP now owns 32,871 shares of the utilities provider’s stock valued at $6,623,000 after purchasing an additional 26,820 shares during the last quarter. Finally, Situational Awareness LP acquired a new stake in Talen Energy in the 4th quarter valued at about $27,980,000. 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.