Talen Energy (NASDAQ:TLN) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Talen Energy (NASDAQ:TLN) had its target price upped by analysts at Morgan Stanley from $330.00 to $430.00 in a research note issued on Wednesday, MarketBeat reports. The brokerage presently has an “overweight” rating on the utilities provider’s stock. Morgan Stanley’s target price indicates a potential upside of 7.25% from the stock’s current price.

TLN has been the subject of a number of other research reports. Wall Street Zen raised Talen Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 11th. UBS Group set a $431.00 target price on Talen Energy and gave the company a “buy” rating in a research note on Friday, July 25th. 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. Melius Research initiated coverage on Talen Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $427.00 price target for the company. Finally, Melius initiated coverage on Talen Energy in a research report on Wednesday, August 20th. They set a “buy” rating and a $427.00 price target for the company. Fifteen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $354.29.

Talen Energy Price Performance

TLN opened at $400.92 on Wednesday. The stock has a 50-day moving average price of $350.99 and a 200-day moving average price of $270.61. Talen Energy has a 12-month low of $148.02 and a 12-month high of $410.00. The company has a current ratio of 1.84, a quick ratio of 1.34 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $18.32 billion, a P/E ratio of 113.58, a PEG ratio of 2.77 and a beta of 1.89.

Talen Energy (NASDAQ:TLN) last released its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share 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 analysts predict that Talen Energy will post 15.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Talen Energy

In related news, major shareholder Rubric Capital Management Lp sold 178,000 shares of the company’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 sale, the insider owned 5,734,970 shares in the company, valued at $1,697,780,518.80. This represents a 3.01% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 388,530 shares of company stock valued at $114,090,933. Corporate insiders own 0.18% of the company’s stock.

Hedge Funds Weigh In On Talen Energy

Institutional investors and hedge funds have recently modified their holdings of the company. Third Point LLC purchased a new position in Talen Energy during the first quarter valued at $116,807,000. Norges Bank purchased a new position in Talen Energy during the second quarter valued at $168,188,000. Fred Alger Management LLC lifted its position in Talen Energy by 56.3% during the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock valued at $297,937,000 after purchasing an additional 537,398 shares in the last quarter. State Street Corp lifted its position in Talen Energy by 151.0% during the second quarter. State Street Corp now owns 711,231 shares of the utilities provider’s stock valued at $206,805,000 after purchasing an additional 427,910 shares in the last quarter. Finally, PointState Capital LP bought a new stake in Talen Energy during the first quarter valued at about $75,148,000. 0.38% of the stock is currently owned by hedge funds and other 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.