Evercore ISI Issues Positive Forecast for Talen Energy (NASDAQ:TLN) Stock Price

Talen Energy (NASDAQ:TLN) had its target price boosted by Evercore ISI from $410.00 to $450.00 in a research note issued to investors on Tuesday, Marketbeat.com reports. Evercore ISI currently has an outperform rating on the utilities provider’s stock.

A number of other brokerages have also commented on TLN. UBS Group set a $431.00 price target on Talen Energy and gave the company a “buy” rating in a research note on Friday, July 25th. Melius Research initiated coverage on Talen Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $427.00 price target for the company. Jefferies Financial Group increased their price target on Talen Energy from $326.00 to $380.00 and gave the company a “buy” rating in a research note on Friday, July 18th. Susquehanna reissued an “overweight” rating on shares of Talen Energy in a research note on Thursday, June 12th. Finally, Oppenheimer set a $315.00 price target on Talen Energy and gave the company an “outperform” rating in a research note on Friday, July 11th. Fifteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Talen Energy currently has a consensus rating of “Buy” and an average price target of $334.93.

Talen Energy Stock Performance

NASDAQ:TLN opened at $389.43 on Tuesday. The company has a current ratio of 1.84, a quick ratio of 1.34 and a debt-to-equity ratio of 2.39. Talen Energy has a 12-month low of $145.05 and a 12-month high of $398.78. The stock has a 50-day moving average price of $346.29 and a 200 day moving average price of $268.41. The stock has a market capitalization of $17.79 billion, a P/E ratio of 110.32, a P/E/G ratio of 2.64 and a beta of 1.89.

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

Insider Activity

In other 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 stock was sold at an average price of $296.04, for a total value of $52,695,120.00. Following the completion of the sale, the insider directly owned 5,734,970 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Over the last three months, insiders sold 388,530 shares of company stock valued at $114,090,933.

Institutional Investors Weigh In On Talen Energy

A number of institutional investors and hedge funds have recently modified their holdings of TLN. Northern Trust Corp lifted its stake in shares of 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 acquiring an additional 8,626 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of 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 acquiring an additional 261 shares during the last quarter. Cetera Investment Advisers bought a new stake in shares of Talen Energy during the 4th quarter worth approximately $490,000. Cresset Asset Management LLC bought a new stake in shares of Talen Energy during the 4th quarter worth approximately $312,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Talen Energy during the 4th quarter worth approximately $422,000. 0.38% of the stock is owned by institutional investors.

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.