Talen Energy (NASDAQ:TLN) Hits New 1-Year High – Here’s Why

Talen Energy Corporation (NASDAQ:TLN) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $216.95 and last traded at $215.28, with a volume of 16336 shares changing hands. The stock had previously closed at $208.79.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. UBS Group assumed coverage on shares of Talen Energy in a report on Wednesday, September 18th. They set a “buy” rating and a $197.00 price objective for the company. Jefferies Financial Group started coverage on shares of Talen Energy in a research report on Friday, September 13th. They issued a “buy” rating and a $226.00 price objective on the stock. Barclays reduced their price objective on shares of Talen Energy from $207.00 to $202.00 and set an “overweight” rating on the stock in a research report on Monday, October 21st. Royal Bank of Canada assumed coverage on shares of Talen Energy in a research report on Thursday, September 26th. They set an “outperform” rating and a $233.00 target price on the stock. Finally, Oppenheimer increased their price objective on shares of Talen Energy from $165.00 to $210.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $205.33.

Talen Energy Price Performance

The company has a current ratio of 4.51, a quick ratio of 3.86 and a debt-to-equity ratio of 1.02. The company’s fifty day moving average is $148.25 and its 200-day moving average is $112.27.

Talen Energy (NASDAQ:TLN) last released its quarterly earnings data on Tuesday, August 13th. The utilities provider reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of ($1.14) by $1.33. The company had revenue of $489.00 million during the quarter, compared to analysts’ expectations of $437.50 million. Talen Energy had a net margin of 41.79% and a return on equity of 2.27%. As a group, equities analysts anticipate that Talen Energy Corporation will post 14.66 earnings per share for the current fiscal year.

Institutional Trading of Talen Energy

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Shikiar Asset Management Inc. acquired a new position in Talen Energy during the second quarter worth about $278,000. Allspring Global Investments Holdings LLC acquired a new position in Talen Energy in the 3rd quarter valued at about $29,464,000. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in Talen Energy in the 3rd quarter valued at about $7,967,000. Guidance Capital Inc. purchased a new stake in shares of Talen Energy in the 3rd quarter valued at approximately $348,000. Finally, Mcdaniel Terry & Co. purchased a new stake in shares of Talen Energy in the 3rd quarter valued at approximately $371,000. Hedge funds and other institutional investors own 0.38% of the company’s stock.

Talen Energy Company Profile

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.