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

Talen Energy Corporation (NASDAQ:TLN)’s share price gapped up before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Melius started coverage on Talen Energy in a research report on Wednesday, August 20th. They issued a “buy” rating and a $427.00 target price for the company. Morgan Stanley reiterated an “overweight” rating and issued a $443.00 price target on shares of Talen Energy in a research note on Tuesday. Weiss Ratings restated a “hold (c)” rating on shares of Talen Energy in a report on Wednesday, October 8th. Evercore ISI lifted their target price on shares of Talen Energy from $410.00 to $450.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 9th. Finally, Wells Fargo & Company lowered their price target on Talen Energy from $453.00 to $445.00 and set an “overweight” rating on the stock in a report on Thursday, November 6th. Thirteen research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, Talen Energy currently has a consensus rating of “Moderate Buy” and an average price target of $395.21.

Talen Energy Stock Up 9.4%

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

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in TLN. State Street Corp increased its holdings in Talen Energy by 88.2% in the 3rd quarter. State Street Corp now owns 1,338,698 shares of the utilities provider’s stock worth $569,455,000 after acquiring an additional 627,467 shares in the last quarter. Third Point LLC purchased a new stake in Talen Energy in the 1st quarter worth $116,807,000. Norges Bank bought a new stake in Talen Energy during the second quarter valued at about $168,188,000. Fred Alger Management LLC grew its position in shares of Talen Energy by 56.3% during the first quarter. Fred Alger Management LLC now owns 1,492,145 shares of the utilities provider’s stock worth $297,937,000 after purchasing an additional 537,398 shares in the last quarter. Finally, Invesco Ltd. raised its stake in Talen Energy by 77.5% during the 3rd quarter. Invesco Ltd. now owns 1,063,024 shares of the utilities provider’s stock valued at $452,189,000 after purchasing an additional 464,014 shares during the period. 0.38% of the stock is owned by hedge funds and other 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.