Talen Energy (NASDAQ:TLN) Reaches New 12-Month High – Here’s Why

Talen Energy Corporation (NASDAQ:TLN)’s share price hit a new 52-week high on Wednesday . The company 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

TLN has been the subject of a number of research reports. Jefferies Financial Group initiated coverage on shares of Talen Energy in a report on Friday, September 13th. They issued a “buy” rating and a $226.00 price target for the company. UBS Group initiated coverage on shares of Talen Energy in a report on Wednesday, September 18th. They issued a “buy” rating and a $197.00 price target for the company. JPMorgan Chase & Co. initiated coverage on shares of Talen Energy in a report on Thursday, October 17th. They issued an “overweight” rating and a $268.00 price target for the company. Royal Bank of Canada initiated coverage on shares of Talen Energy in a report on Thursday, September 26th. They issued an “outperform” rating and a $233.00 price target for the company. Finally, Barclays lowered their price target on shares of Talen Energy from $207.00 to $202.00 and set an “overweight” rating for the company in a report on Monday, October 21st. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $205.33.

Talen Energy Stock Performance

The business’s 50-day moving average is $144.72 and its two-hundred day moving average is $111.00. The company has a debt-to-equity ratio of 1.02, a current ratio of 4.51 and a quick ratio of 3.86.

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, topping the consensus estimate of ($1.14) by $1.33. Talen Energy had a net margin of 41.79% and a return on equity of 2.27%. The business had revenue of $489.00 million for the quarter, compared to analyst estimates of $437.50 million. On average, analysts forecast that Talen Energy Corporation will post 14.66 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Roubaix Capital LLC bought a new position in Talen Energy in the third quarter valued at approximately $11,234,000. River Road Asset Management LLC bought a new position in Talen Energy in the third quarter valued at approximately $277,653,000. M&G PLC bought a new position in Talen Energy in the third quarter valued at approximately $14,797,000. Riggs Asset Managment Co. Inc. bought a new position in Talen Energy in the third quarter valued at approximately $1,001,000. Finally, CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in Talen Energy in the third quarter valued at approximately $7,967,000. 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.