Talen Energy (NASDAQ:TLN) Shares Gap Up – Time to Buy?

Talen Energy Corporation (NASDAQ:TLN)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $351.96, but opened at $374.91. Talen Energy shares last traded at $364.0650, with a volume of 77,398 shares traded.

Analysts Set New Price Targets

Several analysts recently issued reports on TLN shares. Weiss Ratings reissued a “hold (c)” rating on shares of Talen Energy in a research note on Wednesday, October 8th. Morgan Stanley reiterated an “overweight” rating and issued a $443.00 price objective on shares of Talen Energy in a research report on Tuesday. Scotiabank began coverage on Talen Energy in a report on Monday, September 22nd. They set a “sector perform” rating and a $418.00 target price for the company. JPMorgan Chase & Co. raised their price target on Talen Energy from $432.00 to $442.00 and gave the stock an “overweight” rating in a research note on Monday, October 20th. Finally, Melius Research boosted their price objective on shares of Talen Energy from $427.00 to $576.00 and gave the company a “buy” rating in a research report on Wednesday, September 10th. Thirteen investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $395.21.

Talen Energy Stock Performance

The company has a market capitalization of $17.60 billion, a P/E ratio of 83.37, a price-to-earnings-growth ratio of 2.05 and a beta of 1.89. The company’s 50 day moving average is $385.11 and its 200-day moving average is $359.93. The company has a current ratio of 2.29, a quick ratio of 1.72 and a debt-to-equity ratio of 2.02.

Talen Energy (NASDAQ:TLN) last released its earnings results on Wednesday, November 5th. The utilities provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.01 by $0.24. Talen Energy had a net margin of 9.83% and a return on equity of 13.52%. The firm had revenue of $812.00 million during the quarter, compared to analyst estimates of $707.90 million. During the same period last year, the business earned $3.16 earnings per share. The business’s revenue was up 24.9% on a year-over-year basis. Equities analysts anticipate that Talen Energy Corporation will post 15.94 EPS for the current fiscal year.

Hedge Funds Weigh In On Talen Energy

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Talen Energy by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,523,159 shares of the utilities provider’s stock valued at $1,924,061,000 after purchasing an additional 117,266 shares during the last quarter. Fred Alger Management LLC lifted its stake in shares of Talen Energy by 56.3% in the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock worth $297,937,000 after buying an additional 537,398 shares in the last quarter. Reaves W H & Co. Inc. grew its holdings in shares of Talen Energy by 12.6% during the third quarter. Reaves W H & Co. Inc. now owns 1,410,537 shares of the utilities provider’s stock valued at $600,014,000 after buying an additional 158,047 shares during the last quarter. State Street Corp increased its position in shares of Talen Energy by 88.2% during the third quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock valued at $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Finally, Lone Pine Capital LLC raised its holdings in Talen Energy by 9.5% in the 3rd quarter. Lone Pine Capital LLC now owns 1,192,516 shares of the utilities provider’s stock worth $507,272,000 after acquiring an additional 103,136 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.