Morgan Stanley Boosts Talen Energy (NASDAQ:TLN) Price Target to $430.00

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

Several other equities research analysts have also recently weighed in on the company. Oppenheimer set a $315.00 price objective on Talen Energy and gave the stock an “outperform” rating in a research note on Friday, July 11th. Melius assumed coverage on Talen Energy in a research note on Wednesday, August 20th. They set a “buy” rating and a $427.00 price objective on the stock. Wall Street Zen raised Talen Energy from a “sell” rating to a “hold” rating in a research note on Monday, August 11th. Susquehanna reissued an “overweight” rating on shares of Talen Energy in a research note on Thursday, June 12th. Finally, Barclays boosted their price objective on Talen Energy from $353.00 to $418.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 13th. Fifteen analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $354.29.

Talen Energy Trading Down 0.4%

Shares of TLN stock opened at $400.92 on Wednesday. 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’s 50-day moving average price is $350.99 and its 200-day moving average price is $270.61. The stock has a market capitalization of $18.32 billion, a price-to-earnings ratio of 113.58, a price-to-earnings-growth ratio of 2.77 and a beta of 1.89.

Talen Energy (NASDAQ:TLN) last issued its earnings results on Thursday, August 7th. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.13) by $2.63. Talen Energy had a return on equity of 17.81% and a net margin of 8.75%.The firm had revenue of $630.00 million for the quarter, compared to analysts’ expectations of $481.48 million. Equities research analysts predict that Talen Energy will post 15.94 EPS 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 on Friday, June 27th. The stock was sold at an average price of $296.04, for a total transaction 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. The trade was a 3.01% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders sold 388,530 shares of company stock worth $114,090,933. Insiders own 0.18% of the company’s stock.

Institutional Trading of Talen Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Fred Alger Management LLC boosted its position in Talen Energy by 56.3% during the 1st quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock valued at $297,937,000 after acquiring an additional 537,398 shares in the last quarter. Geode Capital Management LLC boosted its position in Talen Energy by 26.1% during the 2nd quarter. Geode Capital Management LLC now owns 794,754 shares of the utilities provider’s stock valued at $231,150,000 after acquiring an additional 164,734 shares in the last quarter. Third Point LLC boosted its position in Talen Energy by 34.2% during the 2nd quarter. Third Point LLC now owns 785,000 shares of the utilities provider’s stock valued at $228,254,000 after acquiring an additional 200,000 shares in the last quarter. State Street Corp lifted its holdings in shares of Talen Energy by 151.0% during the 2nd 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 during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Talen Energy by 18.9% during the 2nd quarter. Invesco Ltd. now owns 599,010 shares of the utilities provider’s stock valued at $174,174,000 after purchasing an additional 95,147 shares during the last quarter. Institutional investors own 0.38% of the company’s stock.

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.