Brokerages Set Talen Energy Corporation (NASDAQ:TLN) Target Price at $297.50

Shares of Talen Energy Corporation (NASDAQ:TLN) have earned a consensus recommendation of “Buy” from the fourteen research firms that are currently covering the stock, Marketbeat.com reports. Fourteen investment analysts have rated the stock with a buy rating. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $297.50.

Several equities analysts have recently issued reports on TLN shares. 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. Barclays reiterated an “overweight” rating and issued a $418.00 price objective (up previously from $353.00) on shares of Talen Energy in a report on Wednesday. Raymond James Financial initiated coverage on Talen Energy in a research report on Friday, June 13th. They set an “outperform” rating and a $314.00 target price for the company. Susquehanna reaffirmed an “overweight” rating on shares of Talen Energy in a research note on Thursday, June 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Talen Energy from $326.00 to $380.00 and gave the stock a “buy” rating in a research note on Friday, July 18th.

Talen Energy Trading Down 0.7%

Shares of Talen Energy stock opened at $377.82 on Thursday. Talen Energy has a 12-month low of $131.31 and a 12-month high of $394.07. The company has a 50-day simple moving average of $314.94 and a 200 day simple moving average of $251.98. The company has a quick ratio of 1.34, a current ratio of 1.84 and a debt-to-equity ratio of 2.39. The stock has a market capitalization of $17.26 billion, a P/E ratio of 107.03, a price-to-earnings-growth ratio of 2.78 and a beta of 1.90.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (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 business had revenue of $630.00 million during the quarter, compared to analysts’ expectations of $481.48 million. Research analysts expect that Talen Energy will post 15.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Talen Energy news, major shareholder Rubric Capital Management Lp sold 178,000 shares of Talen Energy stock in a transaction dated 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 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 SEC, which is available through the SEC website. Over the last three months, insiders have sold 388,530 shares of company stock valued at $114,090,933. 0.18% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Atlantic Union Bankshares Corp bought a new stake in Talen Energy during the 2nd quarter worth about $27,000. MAI Capital Management increased its position in shares of Talen Energy by 115.7% in the second quarter. MAI Capital Management now owns 110 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 59 shares during the last quarter. Signaturefd LLC raised its holdings in Talen Energy by 310.0% during the first quarter. Signaturefd LLC now owns 123 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 93 shares in the last quarter. Brooklyn Investment Group bought a new stake in Talen Energy during the first quarter worth about $25,000. Finally, Golden State Wealth Management LLC boosted its position in Talen Energy by 5,100.0% during the second quarter. Golden State Wealth Management LLC now owns 156 shares of the utilities provider’s stock valued at $45,000 after purchasing an additional 153 shares during the last quarter. 0.38% of the stock is currently 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.